Volvo CEO suggests petrol vehicle ban

Hakan Samuelsson, the CEO of Volvo, has suggested a ban on the sale of petrol cars in order to hasten the integration of electric vehicles to significantly reduce the carbon footprint of the automotive industry.

He favours this option over the government-backed stimulus or subsidies packages some governments have opted for as a way of encouraging the public to switch to vehicles with greener engines.

He described the internal combustion engine as "a thing of the past" and has supported the UK's decision to ban the sale of all petrol and diesel cars by 2030.

Read more: Hyundai To Develop Own EV Platform & Charging Systems

The Volvo boss told the FT Future of the Car Summit on Wednesday: “No one can build a successful and profitable business by relying on incentives.

“While temporary incentives can help encourage industry to develop in the right way, it could be more efficient for governments to set a clear agenda towards an electric future.”

The summit comes as automakers push for faster adoption of electric vehicles than expected and many of the speakers will be promoting new technologies, such as driverless cars.

Sales of electric vehicles have tripled in 2020 as many companies and government look to eliminate their carbon footprints.

Volvo expected 50% of its sales will be electric by 2025, with the rest using plug-in hybrid technology which allows the car to travel significant distances on battery power only.

Mr Samuelsson concluded: “We are convinced that the premium car segment will become fully electric over time, and our ambition is to be a leader in that segment."

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