Volvo Reverses Plan to Sell Only Electric Cars by 2030

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Volvo Cars set an ambitious target in 2021 to become a fully electric car manufacturer by 2030. Following a shift in consumer demand, the automaker has adjusted its target now aiming for 90-100% of global sales to come from electrified cars by 2030. This new target includes a mix of fully electric and plug-in hybrid vehicles with a small allowance (0-10%) for mild hybrids, if necessary.

China’s Xi Jinping Pledges Over $50 Billion in Financial Aid to Africa

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Chinese President Xi Jinping has pledged financial aid package exceeding 360 billion yuan approximately $50.7 billion to Africa over the next three years. This announcement was made during the ninth Forum on China-Africa Cooperation (FOCAC) Summit, which took place in Beijing. With leaders from over 50 African nations in attendance.