Volvo very bullish on hybrid vehicles?

I flipped on CNBC yesterday and the CEO of the Volvo Group was on Morning Call. Eventually, the hybrid question was asked, and I was surprised by what the CEO had to say. While I can't quote him, he essentially stated that hybrid technology was the key to energy efficiency. He further noted that Volvo was far along in its hybrid development program, and that Volvo is selling hybrid versions of heavy duty trucks outside of the U.S. Ultimately, I found it very interesting that the CEO didn't claim that hybrids were an important part of their future plans, but were key to the future. Oh, those crazy diesel-loving Europeans.