This pledge marked a significant step in Volvo's strategy to lead the automotive industry towards sustainable mobility. Recent Developments Recent statements from CEO Jim Rowan suggest that hybrid powertrains may continue to be part of Volvo's lineup, serving as a transitional option for customers who are not yet ready to fully switch to electric vehicles. This indicates that hybrids and plug-in hybrids (PHEVs) might play a more prominent role in Volvo's portfolio during the transition period. Dealers' Concerns Volvo's U.S. dealers have raised concerns about the feasibility of the 2030 target, arguing that hybrids could be essential for meeting market demands and maintaining competitiveness. Some dealers believe that retaining hybrid options might be crucial for their business viability and market presence. Market Challenges The electric vehicle (EV) market has experienced a slowdown from its previous rapid growth.