OREANDA-NEWS  Swedish Volvo has announced its decision to stop producing cars with diesel engines in early 2024, the press service of the automaker reports.

Volvo noted that it was one of the first to take such a step, and also recalled the sale in November 2022 of a stake in a joint venture with Geely, in which the company's assets in the field of internal combustion engines were located.

"We no longer spend a single crown of our budget on research and development of new internal combustion engines," Volvo said, commenting on the release date of its latest diesel—powered car. By 2030, it plans to sell only electric cars there, and by 2040 it will become a carbon neutral company.

After the European ban on the sale of cars with gasoline and diesel engines by 2035, which was voted for by the European Parliament, a number of countries, including Italy and Germany, challenged its provisions. In particular, Italian Transport Minister Matteo Salvini said that the decision has no economic, environmental, or social meaning.