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Volvo To Go Full Electric, Says Goodbye To Gas Cars

Volvo XC 90.GabboT/Flickr

While it still remains one of the most well-known luxury brands of cars in the business, Volvo is not about to wait until it becomes left behind by current trends. As a result, the company has announced that it will be producing only electric cars in the future, saying goodbye to internal combustion engines. This makes Volvo the first of major car companies to take the leap.

It’s worth noting that many other companies are already putting in a lot of effort in creating their own electric car lineups, including Ford, GM, and BMW. However, none of the other major auto makers have declared an intention to fully commit to electric cars and abandon traditional gas vehicles. As Volvo CEO Håkan Samuelsson notes in a video attached to an official Tweet, the company is more than ready to do this.

“Volvo cars is taking a bold step forward,” Samuelsson said, “heralding the end of an era for the pure internal combustion engine.”

The company followed this up with a confirmation via press release, which states that as of 2019 and onward, the company will only be releasing electric cars.

“This is about the customer,” Samuelsson said in the press release. “People increasingly demand electrified cars and we want to respond to our customers’ current and future needs. You can now pick and choose whichever electrified Volvo you wish.”

As Futurism notes, this announcement by Volvo is a huge turning point for the auto industry. An established car maker declaring that it was leaving behind the format that it was built on for a better future is exactly what renewable energy enthusiasts have been clamoring for. Volvo is the first to respond favorably.

It’s also worth noting that Volvo’s case is different compared to that of Tesla. Elon Musk built his company as a fully electric setup from the start. None of his vehicles used fossil fuel.

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November 20 20:00 UTC Released

BRCAGED Net Payroll Jobs*

Actual

77 k

Forecast

Previous

77 k

November 20 13:00 UTC Released

RURetail Sales YY

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3.0 %

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3.9 %

Previous

3.1 %

November 21 13:55 UTC 331331m

USRedbook MM

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-1.2 %

November 21 13:55 UTC 331331m

USRedbook YY

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2.3 %

November 22 12:00 UTC 16561656m

USMBA Mortgage Applications

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Forecast

Previous

3.1 %

November 22 12:00 UTC 16561656m

USMortgage Market Index

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Forecast

Previous

401.7 Bln EUR

November 22 13:30 UTC 17461746m

USJobless Claims 4-Wk Avg

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Forecast

Previous

237.75 k

November 22 13:30 UTC 17461746m

USInitial Jobless Claims

Actual

Forecast

240 k

Previous

249 k

November 22 13:30 UTC 17461746m

USContinued Jobless Claims

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Forecast

1.882 Mln

Previous

1.860 Mln

November 22 14:30 UTC 18061806m

BRForeign Exchange Flows*

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Forecast

Previous

-3.412 Bln USD

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