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ABC News
ABC News
Business
Daniel Mercer and Emilia Terzon

Volvo's bid to go 'fully electric' in Australia by 2026 suggests hybrid cars are on a road to nowhere

When a host of Hollywood A-listers arrived at the Academy Awards in 2003, their mode of transport turned as many heads as any of the outfits on display.

The likes of Cameron Diaz, Harrison Ford and Susan Sarandon were chauffeured to the event in what was then seen as a symbol of environmental virtue and innovation — Toyota's electric-petrol hybrid Prius.

But almost 20 years since that event, Toyota no longer has the the edge in the great race to decarbonise the world's transport fleet.

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