The Swedish automaker Volvo Cars has abandoned its plan to exclusively sell electric vehicles by 2030 due to softening demand for pure battery-powered cars. Following the announcement on Wednesday, Volvo’s shares fell by more than 4% and have declined by 12% over the past six months. The company also reported disappointing earnings for the first quarter and provided weak guidance during its second-quarter earnings call. Instead of aiming to become a fully electric car manufacturer, Volvo is now targeting “90 to 100 per cent of its global sales volume by 2030 to consist of electrified cars,” wh…