Volvo has officially abandoned its target of selling only electric vehicles (EVs) by 2030, shifting its focus to a goal where 90-100 percent of its sales will consist of fully electric or plug-in hybrid models, with 10 percent being mild hybrids. This change comes as major manufacturers face subdued demand for EVs, largely attributed to the scarcity of affordable options and insufficient charging infrastructure. The company sees plug-in hybrids as essential for future growth, with the new XC90 facelift incorporating both PHEV and mild-hybrid versions slated for release soon. CEO Jim Rowan acknowledged that evolving market conditions and customer preferences necessitated this strategic pivot, despite the initial bold commitment made in 2021. Volvo's decision aligns with a broader industry trend, as other automakers also reconsider their EV strategies amidst growing hybrid demand. The automaker continues to develop its all-electric lineup, including models like the EX90 and upcoming EX60.