The now Chinese owned company which is famous for inventing the seat belt and then letting everyone have it is joining a growing number of automakers planning to phase out fossil fuel engines by the end of this decade.
Chief Executive Hakan Samuelsson told reporters he was totally convinced there will be no customers who really want to stay with a petrol engine.
"We are convinced that an electric car is more attractive for customers." The Swedish-based carmaker said half of its global sales should be fully electric cars by 2025 and the other half hybrid models.
Owned by Hangzhou-based Zhejiang Geely Holding Group, Volvo will launch a new family of electric cars in the next few years, all of which will be sold online only.
On Tuesday it unveiled the first of those models, the C40, a fully electric SUV, which will have an initial battery range of around 420 kilometers (261 miles).
Volvo will include wireless upgrades and fixes for its new electric models -- an approach originally pioneered by electric carmaker Tesla.
Chief Technology Officer Henrik Green said. Volvo said it will "radically reduce" the complexity of its model lineup and provide customers with transparent pricing. The carmaker's global network of 2,400 traditional bricks and mortar dealers will remain open to service vehicles and to help customers make online orders.