The announcement makes it one of the first legacy car makers to take this step. It has already announced plans to sell only fully electric cars by 2030 ahead of aims to become carbon neutral by 2040.

Last year, Volvo said it would cease development of new combustion engines in a bid to shift R&D spend towards EVs.

“Electric powertrains are our future and superior to combustion engines: they generate less noise, less vibration, less servicing costs for our customers and zero tailpipe emissions,” said Jim Rowan, chief executive at Volvo Cars.

“We’re fully focused on creating a broad portfolio of premium, fully electric cars that deliver on everything our customers expect from a Volvo – and are a key part of our response to climate change.”

It was recently reported that the Prime Minister Rishi Sunak plans to relax some of the UK’s proposed green measures, including pushing back the ban on the sale of new petrol and diesel cars from 2030 to 2035.

Other...