Hi-Tech

Volvo May Stop Developing New Diesel Engines to Better Compete With Tesla

Volvo May Stop Developing New Diesel Engines to Better Compete With Tesla

Volvo CEO Hakan Samuelsson has revealed that this generation of diesel engines could be the company's last.

"From today's perspective, we will not develop any more new generation diesel engines", Samuelsson told German's Frankfurter Allgemeine Zeitung in an interview.

Until 2020, Samuelsson noted diesels are still necessary to meet the European Union's tightening emissions standards, and could remain in production until 2023 or so with a mid-life refresh to keep them as clean and efficient as possible. That's down to anticipated high costs for making diesels compliant with upcoming emissions standards.

It appears that Volvo is staying true to their words after Samuelsson said that they have stopped development on diesel engines. The company is expected to first introduce a pure electric model in 2019 that would compete with the Tesla Model 3.

"We have to recognise that Tesla has managed to offer such a vehicle for which people are lining up".

Goldman Sachs believes a regulatory crackdown could add €300 (RM1, 438) per engine to diesel costs that are already some €1,300 above their petrol-powered equivalents, as carmakers race to bring real NOx emissions closer to their much lower test-bench scores.

Samuelsson had earlier said that eventually the higher cost of complying with tighter emissions rules will increase the price of diesel cars to the point where plug-in hybrids will become an attractive alternative. This is partly due to the popularity of diesel vehicles in Europe, accounting for over 50% of all new registrations there.

Some 90 percent of XC90s sold in Europe are diesels, but that sounds like it's going to change in the future.


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