Volvo Cars, which plans to sell only fully electric cars by 2030 and aims to be a climate-neutral company by 2040, has officially announced plans to end production of all-diesel powered cars by early 2024. The carmaker’s clear roadmap towards all-out electrification represents one of the most ambitious transformation plans of any legacy car maker.

Yesterday, at Climate Week NYC, Volvo Cars announced the end of production of all diesel-powered Volvo Car models by early 2024. In a few months from now, the last diesel-powered Volvo car will have been built, making Volvo Cars one of the first 'legacy' car makers to take this step.

Climate Week NYC is the largest annual climate event of its kind, bringing together some 400 events and activities across the City of New York.

This latest update follows Volvo Cars’ decision last year to exit the development of new combustion engines. In November 2022, the company sold its stake in Aurobay, the joint venture company which had all its remaining combustion engine assets and it no longer spends a single krona of its R&D budget on developing new internal combustion engines.

“Electric powertrains are our future, and superior to combustion engines: they generate less noise, less vibration, less servicing costs for our customers and zero tailpipe emissions,” said Jim Rowan, Chief Executive at Volvo Cars. “We’re fully focused on creating a broad portfolio of premium, fully electric cars that deliver on everything our customers expect from a Volvo – and are a key part of our response to climate change.”

Volvo will launch the new EX30 and EX90 electric-only SUVs in the coming months as part of its switch to become an electric-only brand – and a wider goal of becoming a climate-neutral company by 2040. Volvo Cars' boss Rowan added: “What the world needs now, at this critical time for our planet and humanity, is leadership.”

He said that both industry and political leaders needed to deliver “meaningful policies and actions” to combat climate change.