The gas-powered age is coming to a close – and auto-makers are capitalizing.
Volvo is the most recent, as Reuters report:
“All Volvo car models launched after 2019 will be electric or hybrids, the Chinese-owned company said on Wednesday, making it the first major traditional automaker to set a date for phasing out vehicles powered solely by the internal combustion engine.
“The Sweden-based company will continue to produce pure combustion-engine Volvos from models launched before that date, but its move signals the eventual end of nearly a century of Volvos powered solely that way.”
As part of the transition, Volvo will launch five new models by 2012 – two of which will be developed by Polestar, a Volvo subsidiary being reshaped to focus solely on electric vehicles (EVs) in an effort to compete with Elon Musk’s Tesla.
As Volvo Cars CEO Hakan Samuelsson noted when speaking with Reuters, dumping tons of cash into the development of fossil fuel-based technologies just doesn’t make sense.
“We of course will not be developing completely new generations of combustion engines,” he said, adding that part of Volvo’s strategy is to join the race to produce the fully-functional self-driving car. “This means that there will in future be no Volvo cars without an electric motor.”
And the primary obstacle to electric cars, infrastructure, is becoming less and less of a problem. As an Anti-Media article noted:
“Chargepoint, the company that maintains the largest network of EV charging stations on the planet, published press release Thursday announcing it had just secured $43 million in funding from Siemens, a corporation Chargepoint calls a ‘global powerhouse in electrical engineering and electronics.’
“The funding comes in addition to money provided by other investors with a stake in the game and brings the total for this latest round of Chargepoint’s financing to $125 million”
Additionally, it was reported last week that Chargepoint also just purchased all of General Electric’s EV charging stations, bringing the company’s total number of independently-owned spots to 36,000.
The future is coming.
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