Starting after 2019, Volvo will have all its car either be electric or hybrid models. Based in Sweden and owned by the Chinese, the car maker is the first major company in the industry to set a date for phasing out vehicles that run solely on internal combustion engines. The company projects to sell a total of 1 million electrified cars by 2025. The first fully electric cars will be built in China which already produces battery-powered cars for its parent company Geely Automobile Holdings of China and plan to go on sale in 2019 globally. Can I get one in truck-form? "This announcement marks the end of the solely combustion engine-powered car," Volvo Cars CEO Hakan Samuelsson said. ...also means we won't be doing other things. We of course will not be developing completely new generations of combustion engines," he said about future investment needs.