Volvo Cars, has been recognised by the United Nations for its innovative electrification strategy. The UN's Global Compact’s annual high-level meeting in New York, focused on the progress that Global Compact members have made in supporting the delivery of the UN’s Sustainable Development Goals (SDGs).
It highlights 10 chief executives that have taken particularly bold and disruptive action, including Volvo Cars’ President and Chief Executive, Håkan Samuelsson.
The Global Compact has also recognised Volvo Cars as a LEAD member, a group of the most committed, engaged and ambitious companies within the Global Compact.
A founding member of the Global Compact, Volvo Cars is one of only 44 LEAD companies out of a total of 9,500 members - and one of only two car makers.
“We’re doing this (electrification strategy) because we think this is the right future for Volvo Cars, and that it will make us stronger. It’s sound business,” says Mr Samuelsson in the UNGC report.
With the announcement, Volvo Cars became the first established car company to fully embrace electrification and place it at the core of its future business.
From 2019, every new Volvo car launched will have an electric motor, marking the historic end of cars that have only an internal combustion engine.
The electrification announcement was a watershed moment in the industry, and Volvo Cars’ example has been followed since by other car makers who have made similar announcements.
As part of its strategy, Volvo Cars will launch five fully electric vehicles between 2019 and 2021.