Volvo’s last diesel car will roll off the line “by early 2024,” the company said on Tuesday.
The writing’s been on the wall for several years. As far back as 2017, the Geely-owned automaker indicated it would wrap up production of diesel cars by around now.
A few years later, Volvo pledged to exclusively sell electric vehicles by 2030.
“Only four years ago, the diesel engine was our bread and butter in Europe,” Volvo said in its statement Tuesday. Going forward, the automaker declared that it’s “no longer spending a single krona of our R&D budget on developing new internal combustion engines.”