Transport and infrastructure is a pre-requisite for any society to prosper, and with a growing world population, urbanization and booming e-commerce, the demand for transport will continue to increase. At the Volvo Group, we will meet that demand with solutions that are considerably safer, cleaner and more efficient than today’s.
We are committed to the Paris climate agreement. From a lifecycle perspective, the vast majority of emissions occur during the use phase of our products and therefore our first priority is to develop solutions that reduce the CO2 footprint. It is our ambition that by 2040, all our products enable our customers to go fossil fuel free. We will track our contribution towards a fossil-free transport system using the criteria set up by the Science Based Target initiative, SBTi.
Electric propulsion will become a cornerstone for commercial vehicles, with green energy supplied by batteries or hydrogen fuel cells depending on application.
Today, our range of battery electric vehicles and machines includes city buses, medium-duty trucks, compact excavators, and electric drivelines for industrial- and marine applications.
From 2021 we will expand our offering to include battery-electric heavy-duty trucks.
In the second half of the decade, we aim to start series production of fuel cell-powered commercial vehicles and machines.
By 2030, approximately 35% of our vehicles sales will consist of electrical alternatives.
The transition to electric solutions is dependent on the access to electricity and hydrogen from clean sources and on a rapid expansion of the charging infrastructure. De-carbonizing the transport industry is a joint effort where we work together with customers, authorities, energy companies and other business partners.