Volvo Has Joined the “Making a Profit on EVs” Club

Over the past few years we have had two “corporate positions” on EVs. We have had the BYD/Tesla position of making money on EVs and the Toyota, GM, Ford (and everyone else) position that EVs can’t be made competitive. Volvo has been talking positively about EVs but, can then make a profit?

The answer is yes. They are currently making a decent profit on EVs and are all in. They say that in most markets they will only be selling EVs by 2026 and they will totally done with ICE vehicles by 2030. Clearly Volvo is legacy auto and they are showing that embracing EVs instead of complaining can be a win. The Electric Viking has more to say about this.

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