Volvo shows electric cars are coming.

Volvo's announcement certainly electrified the internet. The Chinese-owned carmaker caused great excitement on Wednesday when it said that every vehicle it launches from 2019 will have an electric motor.

This, it added, marked a "historic end of cars that have only an internal combustion engine".

There is no doubt that the car industry is changing at speed. From electric vehicles, to self-driving technology, to investments in ride-sharing and taxi companies, carmakers are trying to get a toehold in areas that have the potential to upend the automotive sector in the coming years.

But it isn't clear that Volvo's latest move presents a big acceleration in the pace of change.

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