We know what you’re thinking: ‘there’s a car manufacturer that has just recreated Grease Lightning?!’ Although at Tumelo we think that there should be, unfortunately that’s not the case. However, in 2017 Volvo made an announcement that is equally as exciting. As of this year, all new cars launched will be electrified and they are going to be bringing out their first 100% electric model, with the hope of creating four more by 2021 (The Guardian).
Recognised in the United Nations Global Compact Report, Volvo’s Global Electrification & Electric Car Strategy is leading the way towards a more sustainable future. This was plainly put by Håkan Samuelsson, President and CEO of Volvo Car Group, who described the move as a ‘clear commitment towards reducing our carbon footprint, as well as contributing to better air quality in our cities.’ (Volvo Car Group). As part of this pioneering strategy, by 2025 Volvo has pledged to put one million electrified cars on the road and have at least 50% of their cars’ sales volume to be electric.
Following in the footsteps of Elon Musk, later this year Volvo will be presenting the world with the all-electric Polestar 2, which will be seen as a direct competitor to the Tesla Model 3. Building on its hybrid predecessor, the Polestar 1, this version is likely to cost around $50,000 and will be the first car to feature Google’s new in-car version of the Google Assistant (Electrek).
The production of this new car and the implementation of Volvo’s electrification strategy could not come soon enough, as according to an industry report, CO2 emissions from the average UK new car rose for the first time since 2000, increasing by 0.8% and making it unlikely that the UK will meet climate change targets (The Guardian). More worryingly, research by the Global Carbon Project launched at the UN climate summit in Katowice, Poland, suggests that last year carbon emissions will have reached a record high, rising by an estimated 2.7% (The Guardian).
Despite knowing these statistics, most of the population can’t give up their cars, because they need them to commute to work, to drop children off, or just for personal freedom. Electric cars provide the path to a greener future, and right now, we are at a critical point in time when our planet and polluted cities need all the help they can get. So instead of boycotting the production of cars altogether, we could use the power of positive investment to support innovation in the industry. By investing in companies fostering innovation and pushing the frontier of electrification we are sending our signal of support — as consumers, shareholders and citizens — into the stock market. Tumelo’s app gives you the ability to do this, enabling you to invest in companies that are aligned with your values, such as gender equality, plastic pollution or, in this case, carbon reduction. To learn about us or support us as a beta tester with early access this February, sign up at www.tumelo.com.
