In 2021 Volvo, the Swedish car manufacturing giant, announced it would only sell 100% Electric Vehicles (EVs) by 2030.
However, just three years later (September 2024), the long-time leader in the electric vehicle (EV) market announced it would be giving up this goal. Instead it now aimed for between 90% and 100% of cars sold to be fully electric or plug-in hybrid models.
As a result of the scaled back targets, its stock prices fell.
Given the market reaction, the Asset Impact analysts decided to check whether our asset-based data – which uses production forecasts by AutoForecast Solutions LLC that are based on actual capital expenditure plans for each individual vehicle – would have given an early insight into whether Volvo was ever on track to meet its ambitious EV target.
.gif)
According to AutoForecast Solutions LLC by 2030, Volvo was on track to produce approx. 90% fully electric models with so-called 'hybrid-no plug' models making up the remaining 10%. Despite their commitment to sell 100% EVs and impressive gains, Asset Impact's production forecast suggests that Volvo's transition to full electrification by 2030 was still a work in progress.
Asset managers can gain significant advantage by tracking and assessing the credibility of companies climate targets and goals with our forward-looking, asset-based metrics and data.
Ready to dig deeper into whether climate targets are more style than substance? Contact us to explore how our data can help you uncover new insights into the companies you invest in.
About Asset Impact
Asset Impact provides asset-based climate data and analytics for the financial sector, with a focus on high-emitting industries. By linking financial portfolios to real-economy assets, companies, and securities, it enables detailed climate impact assessments. The database covers 300,000+ assets tied to 70,000+ public and private companies across 13 energy-intensive sectors – representing over 76% of global GHG emissions. Since 2022, Asset Impact has been part of GRESB, the global benchmark for sustainability in real asset investments.
Media Contact: For media inquiries, please contact Tyler Guthrie, Director of Marketing & Communications, at t.guthrie@gresb.com.
About SAP Fioneer
SAP Fioneer develops next-generation software for banks and insurers, combining SAP technology with deep industry expertise to help institutions deploy faster, scale confidently, and seize new opportunities without compromising reliability. Guided by a vision for an inclusive, resilient, and responsive financial ecosystem, SAP Fioneer enables open, innovative financial services that move beyond red tape and legacy constraints. The company partners with established market leaders and digital challengers alike to engineer the future of financial services, including solutions that integrate ESG metrics into core finance and risk workflows.
Let's talk
Looking for more details on using our forward-looking asset-based data? Our team is here to support you.
Contact us