Volvo Penta, as part of the Volvo Group, is making a commitment to be a net-zero emissions company no later than 2050. As a result, sales and marketing of Seven Marine engines will cease beginning January 1, 2021, and production will phase out once current customer demand is met.
Ambitious targets to reduce CO2 emissions has been a goal for Volvo for many years, but is now taking the next step to achieve the goals of the Paris Agreement and committing to the Science Based Targets initiative. The initiative is designed to “help companies establish science-based targets to reduce greenhouse gas emissions and transform business operations to fit the future low-carbon economy.” The Paris Agreement goal is to limit global warming to well below 2°C above pre-industrial levels with an effort to limit warming to 1.5°C.
“Volvo Penta welcomes this increased focus across the Volvo Group. We will support these objectives by intensifying our ongoing efforts and resources towards continued development of sustainable solutions,” states President of Volvo Penta Heléne Mellquist in the company’s press release. “This focus includes advancements of innovative solutions such as our unique Volvo Penta IPS and sterndrive ranges.”
Therefore, Volvo Penta is putting its outboard development on hold. The company will, however, continue to support the current outboard customer base by taking full warranty and parts responsibility for the products that are in the field.
“We want to send a clear message,” says Mellquist. “Volvo Penta does foresee that the outboard segment will continue to be relevant for the marine leisure market, but we believe that the indisputable need to drive advancements in sustainable technology must be our main focus. This is why, for the time being, the exploration of new technology together with the development of our core business, such as Volvo Penta IPS and sterndrives, will be the center of our efforts.”
Volvo Penta will continue to focus on its “Easy Boating” philosophy to provide a unique boating experience, but will transform that experience through the benefits of sustainable technology.