Volvo will stop producing diesel cars at the beginning of 2024. This was reported by the press service of the Swedish automaker.

Volvo recalled that in November 2022 it sold a stake in a joint venture with Geely (Aurobay), which contained the company’s assets in the field of internal combustion engines (ICE). The company has completely abandoned spending on research and development of new internal combustion engines. Volvo plans to sell only electric cars by 2030 and become a climate neutral company by 2040.

“Electric powertrains are our future. They are superior to internal combustion engines and produce less noise, less vibration, lower maintenance costs and no emissions,” said Volvo Cars CEO Jim Rowan.

The majority of Volvo cars sold in Europe in 2019 were equipped with diesel engines. Now a significant share of sales falls on electric cars and hybrid cars, the company emphasized.