AB Volvo, part of China’s Geely Holding, has become the focal point of discussion among influencers on social media platform “X”, following its decision to revise its ambitious 2030 electrification goal. The Swedish automaker, previously committed to selling only fully electric vehicles (EV) by the end of the decade, has adjusted its target to a minimum of 90% EVs, allowing up to 10% mild hybrids in its lineup. This strategic shift reflects growing industry concerns over the recent slowdown in market demand for battery-powered vehicles, reveals the Social Media Analytics Platform of GlobalData, a leading data and analytics company.

Shreyasee Majumder, Social Media Analyst at GlobalData, comments: “Influencers are divided in their reactions, with some viewing it as a potential step back from the company’s bold electrification goals. They argue that this move could reflect a wider industry uncertainty about fully EVs due to the current market pressures and the challenges of transitioning to clean energy. However, others remain optimistic, emphasizing that Volvo’s focus on a predominantly electric lineup still marks significant progress in the shift towards sustainable mobility.”

Below are a few popular influencer opinions captured by GlobalData’s Social Media Analytics Platform:

  1. Tom Callow, Head of Public Affairs at Myenergi:

“We are resolute in our belief that our future is electric,” said Jim Rowan, chief executive of Volvo. The sceptics are citing Volvo’s announcement as if it were a death knell for EVs. Petrol and diesel cars will cease to be made. Electric cars will dominate. And pretty soon.”

  1. Josh Wingrove, White House Reporter at Bloomberg:

“Volvo Car AB abandoned a target to sell only fully electric vehicles by the end of this decade, joining several peers in walking back its EV ambitions due to waning demand.”

  1. Alexander von Witzleben, Retired EU official:

“The #ElectricVehicles Future Is Coming. Just a Little More Slowly. Some of the recent announcements aren’t substantial retreats, for one. Volvo now says that  its fleet will be 90 to 100% electric by 2030…”

  1. Steve Hanke, Professor of Applied Economics at Johns Hopkins University:

“LATEST ON EVS, VOLVO IS HITTING THE BRAKES. Volvo Cars has abandoned its ambitious target to sell only electric vehicles by 2030 amid a global slowdown in EV sales growth. GREEN TRANSITION = MASSIVE COSTS.”

  1. Ray Wills, Managing Director at Future Smart Strategies:

“Correcting the headline @volvocars has not ‘scrapped’ its 2030 EV target Volvo reduced 2030 manufacturing target from 100% of cars to be electric by 2030 to a minimum of 90% cars PHEV + BEV The <10% balance will be mild hybrid models”