Volvo commits to producing the type of electric cars that nobody is buying without big subsidies from the government. It may be the death of Volvo. From Eric Peters at theburningplatform.com:
With gas cheaper than it has been in at least 50 years – strongly suggestive that there is plenty of it available and will be for some time to come – Volvo has announced its decision to build nothing but expensive plug-in hybrid and full-on electric cars beginning after the 2019 model year.
Cue the falling of rose petals.
“This announcement marks the end of the solely combustion engine-powered car,” saith Volvo’s CEO Hakan Samuelsson.
No, it marks the end of sanity – and very possibly of Volvo as a manufacturer of cars. Well, as a manufacturer of cars that people can actually afford to buy or want to buy and which aren’t massively subsidized by the government –…
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