* Volvo’s taking a cue from Tesla and planning to go full-on electric
* The Swedish car company has said they will no longer make diesel engines
* The company’s first electric car is scheduled for release in 2019
It may have taken them a little longer, but Volvo’s finally catching up to the electric game. In an effort to meet growing European carbon emission standards, the Swedish car company recently announced plans to go fully electric. “From today’s perspective, we will not develop any more new generation diesel engines,” says Volvo CEO Hakan Samuelsson.
It’s a surprising move considering how diesel engines account for more than half of all auto sales in Europe. For Volvo, it’s especially extraordinary considering how they’ve only just started to dabble in the hybrid market.
Samuelsson thanked Tesla for paving the way, stating, “We have to recognize that Tesla has managed to offer such a car for which people are lining up. In this area, there should also be space for us, with high quality and attractive design.”
Stricter emissions rules will likely make hybrid and electric cars more cost-effective for both the automaker and the consumer. In fact, Volkswagen’s recent emissions scandal has led to more scrutiny and higher emissions standards — at least over in Europe.
The company’s first fully electric vehicle is scheduled to be released in 2019. Early product specs suggest these cars will cost between $30-$40k and will offer roughly 250 miles per charge.
For now, Volvo will continue with its current line of cars but will change their manufacturing practices to move away from traditional diesel engines and instead start focusing on hybrid vehicles and eventually fully electric cars.