Volvo's Last Diesel Car To Be Manufactured In Early 2024

Volvo Cars, a Swedish luxury car manufacturer, announced that it would stop producing all diesel-powered models early in 2024 as a step towards its 2030 goal of selling only fully electric vehicles.
According to Reuters, all cars currently using combustion engines will eventually be replaced by electric vehicles (EVs).

In mid-June, Bank of America claimed that ICE (internal combustion engines) were no longer in control, stating that for the first time, EVs were anticipated to account for a larger portion of new model launches (46% vs. 36% for ICE, and another 18% for hybrids).

"Electric powertrains are our future, and superior to combustion engines: they generate less noise, less vibration, less servicing costs for our customers and zero tailpipe emissions," Volvo top boss Jim Rowan said in a statement.

The automaker made the update public during Climate Week NYC, a yearly conference on climate action held in New York City.

The joint venture company where all of the company's remaining assets related to combustion engines were housed, Aurobay, "we sold our stake in Aurobay in November of 2022," the company stated.
"In a few months from now, the last diesel-powered Volvo car will have been built, making Volvo Cars one of the first legacy car makers to take this step," the automaker added.
Volvo reported an 18% YoY increase in August sales earlier this month, with fully electric vehicles accounting for 13% of all sales.