The Swedish-based carmaker, Volvo, will build only electric or hybrid-electric cars beginning in 2019, making it the first big auto company to abandon conventional gasoline-powered engines.
The legendary auto manufacturer, now a wholly owned subsidiary of a Chinese company, had earlier set a goal of selling one million electric cars and hyrids by 2025. “This is how we are going to do it,” President and CEO Hakan Samuelsson said in a statement.