Volvo CEO: Pandemic will rapidly accelerate shift to electric cars

Volvo CEO Håkan Samuelsson said that the coronavirus will accelerate the pace of change in the auto industry. He said the shift to EVs will be among the major changes that occur due to the pandemic. Speaking at a Financial Times global digital conference , Samuelsson said: Electrification will go faster. I think it would be naive to believe after some months, everything will return to normal, and our customers will come back into a showroom asking for diesel cars. They will ask even more for electric cars. And that is speeding up. Moreover, he believes that any government efforts to subsidize the auto industry’s recovery should be based on supporting EVs and other new technology. If governments subsidize a return to the old world, I think would be a waste of money. They should use the money to promote new technology as they were planning to do before corona. He also voiced support of car subscriptions as a lower-cost way to gain mobility, especially in crowded urban areas requiring more flexible ownership models. “In big cities, the private car is not a very practical concept,” said Samuelson. The Volvo CEO said that online sales with remote delivery and […]

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