According to Hakan Samuelsson, globalization is on the decline

Berlin Outgoing Volvo boss Hakan Samuelsson expects the rise in petrol and diesel prices to boost electric vehicles. “The high fuel prices can definitely accelerate the switch to electric models,” he told the Handelsblatt. Ultimately, this development will make it cheaper to drive an electric car than a combustion engine. The 70-year-old will hand over the chairmanship of the Swedish automaker to his successor, Jim Rowan, this weekend.

Volvo had initiated the farewell to the combustion engine earlier than BMW, Mercedes and Volkswagen; From the year 2030, the Swedes only want to sell electric cars.

From today’s perspective, Samuelsson judges the step as too cautious. “Looking back, I have to say we should have acted earlier, more aggressively,” he said. Demand has grown faster than expected because customers appreciate the comfort of the ride and want to show their environmental awareness. “The appetite for e-cars is now gigantic.”