Volvo has adjusted its ambitious electric vehicle (EV) sales goals amid cooling demand for battery-powered models. In March 2021, Volvo announced bold plans to only sell EVs globally by 2030, five years ahead of Europe's looming ban on new petrol and diesel-powered vehicles in 2035. However, cooling demand for EVs has led Volvo to walk back its plans overnight, and it's now targeting 90 to 100 per cent electrified vehicle sales by 2030 " with the new target including plug-in hybrids (PHEVs).