The next Volvo S60 saloon will be the first model from the Swedish brand not to offer a diesel engine amongst its powertrains.
"Our future is electric and we will no longer develop a new generation of diesel engines", said Volvo president and CEO, Håkan Samuelsson, in a release.
Samuelsson told the FT: "We're not saying diesel is more dirty, but it's more complicated and more expensive".
In Europe, the diesel engine has always been a favorite in cars and SUVs of all sorts, but in the States, buyers have largely stayed away from diesel rides. The first modern Volvo model to lack a diesel option will be the S60.
Volvo, owned by China's Zhejiang Geely, has said it plans to offer only hybrid or full-electric motors on every new model launched from 2019.
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Production of the S60 will start later this year at Volvo's new plant near Charleston, South Carolina.
The new S60 will initially be available with a range of four-cylinder Drive-E gasoline engines as well as with two gasoline plug-in hybrid versions.
Even so, Volvo's April announcement that it expects half of its global sales to be battery electric vehicles by 2025 is still being viewed by many industry analysts as an ambitious target.
Geely also controls Volvo's breakaway performance auto brand, Polestar, Lynk&Co and black taxi maker LEVC - all of which are pioneering EV technology and new sales and ownership models. It is clear that investment in the development of new, cleaner diesel engines, and upgrades available, be unprofitable, given the decline in the popularity of vehicles on this fuel.
The S60 is set to be revealed next month and production for the saloon is set to start this autumn at Volvo Car's SC plant, which will be the only site to build the model. Production is slated to begin this autumn at Volvo's new plant in SC.