Volvo Cars acknowledges that as a car company, we must be part of the solution when it comes to mitigating climate change. This acknowledgement is reflected in our overall approach and commitment to sustainable business. We were the first traditional car maker to commit to all-out electrification, meaning that every new Volvo from 2019 will come with an electric motor. But electrification alone is not enough to bring down CO2 emissions in line with the ambitions set out in the Paris climate agreement of 2015.
So in the fall of 2019 we launched one of the most ambitious climate plans in the automotive industry. We will reduce our lifecycle carbon footprint per car by 40 per cent between 2018 and 2025, as a first step towards our ambition of becoming a climate neutral company by 2040. These ambitions go beyond addressing tailpipe emissions through all-out electrification. We will also tackle carbon emissions in our manufacturing network, our wider operations, our supply chain and through recycling and reuse of materials.