Volvo Plans To Electrify Car Market With New Models
“In the last six months the electric car market in India has grown about 4.5 per cent in the mass car market while the luxury car market rose to 9 per cent. We want to accelerate this growth by bringing our new Volvo EX30 electric car during the festival season”: Jyoti Malhotra, MD at Volvo Car India
NEW DELHI: Volvo, the Swedish luxury carmaker on Friday said it plans to bring the new Volvo EX30 SUV, the entry level luxury electric car, during the forthcoming festive season, to boost electric penetration in the world’s third largest car market.
“In the last six months the electric car market in India has grown about 4.5 per cent in the mass car market while the luxury car market rose to 9 per cent. We want to accelerate this growth by bringing our new Volvo EX30 electric car during the festival season,” Jyoti Malhotra, MD at Volvo Car India told Financial Chronicle in an exclusive interview here.
He said as per the plan Volvo will introduce a new model every year and its new EX90 EV will follow suit. The EX30 will be assembled in India and the future BEVs will also be locally produced to make them affordable.
“We will end this calendar year with flattish growth but next year will be better,” Malhotra said, adding that its EV sales accounted for 25 per cent of its total sales. In Jan.-June 2025 Volvo sold a total of 880 units, a flattish growth compared to the same period last year. At present, it sells EX40 and EC40 electric models with variants in the Rs 49 to Rs 59 lakh range.
Malhotra said Volvo’s aspiration was to grow its EV penetration to 30 per cent to 50 per cent in India as soon as possible.
On Friday, Volvo launched the refreshed XC60, the mild-hybrid mid-size SUV, its best-selling model in the country priced at Rs 71.90 lakh. It competes with Mercedes GLC, BMW X3 and Audi Q5.
Dubbed the Volvo smart safety network, the XC60's Level 2 ADAS suite offers cross-traffic alert with autobrake, blind spot monitoring, adaptive cruise control and lane and pilot assists. Other features include 8 airbags, 360-degree camera and ABS with EBD.
