Volvo Car transformation into an electric-vehicle maker accelerated in the second quarter, reflecting a broader trend in the auto industry, which has seen sales of EVs and hybrids outperform conventional vehicles in many markets as gas prices rise around the world.
The share of pure electric and hybrid vehicles rose sharply to 31% of Volvo’s total sales in the second quarter of the year, even as overall unit sales fell by more than a quarter as a result of production and supply-chain woes in the wake of pandemic lockdowns in China.
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