Today, Volvo Chief Executive Officer Hakan Samuelsson said that the current generation of diesel engines will be the automaker’s last and that they will instead focus on electric vehicles.
And he also gave credit to Tesla for launching demand for electric vehicles, which actually plays right into the automaker’s mission.
This vehicle will be built on Volvo’s new Modular Electrification Platform (MEP), which will apparently become the company’s focus as development efforts shift from diesel engines.
In an interview with German’s Frankfurter Allgemeine Zeitung (via Reuters) today, Samuelsson confirmed that today’s market shows no reason to continue investing in diesel:.
“From today’s perspective, we will not develop any more new generation diesel engines,”.
The CEO noted that Europe’s regulations are pushing them to be more aggressive in the development of more efficient engines.
Samuelsson hinted that they could stop production of diesel engines, which represents about 50% of the market in Europe, altogether after 2023. »