Volvo dismisses talk of electric vehicle growth

We are used to car companies talking up their plans for electric cars, but in a man-bites-dog speech, the boss of Volvo says it isn't going to happen.

Stefan Jacoby, the CEO of Volvo said in a speech in Brussels, that without significant help at a European level, electric vehicles will not take more than 1% of the car market in 2020. That is a pretty big bucket of cold water. Renault talks about a 10% share for electric cars by 2020 and most other manufacturers reckon 3%-4% is a realistic target.