- Thursday, March 06, 2025
The Swedish luxury car maker plans to bring one electric model every year in India
By: India Weekly
SWEDISH luxury car maker Volvo is planning to launch its fully electric small SUV EX30 in India this year, as it aims to achieve 90-100 per cent global sales from electric cars by 2030, according to a senior company official.
Besides, Volvo Car India is also looking at bringing the new XC60 SUV in India this year, its Managing Director Jyoti Malhotra told PTI.
“Our global ambition is that we want to sell electrified cars, 90-100 per cent of our cars should be electrified, which means directionally, we are still going in the same direction that we want to move towards electrification,” he said.
For India, Malhotra said, “The company is fully aligned with the government’s push for faster adoption of electric cars in India, and we are completely aligned to that. If you see, we are very happy”.
“Last year, one in every four cars that we have sold (in India) was an electric car, although we have only XC 40 and C40. With only two cars, we are so close to 25 per cent of our car sales are already electric, and we are aligned to achieve the global ambition of 90-100 per cent by 2030,” Malhotra said.
Reiterating the company’s plans to bring one electric model every year, he said, “This year, we plan to bring the EX30 later in the year. Right now we are in the process of doing feasibility studies, because we want to sell this car like other cars, assembled in Bangalore (facility).”
The EX30 will create a new segment and help to improve the overall adoption of EVs in India, Malhotra said, adding “with each (electric) car, we see a progression happening and adding to the EV penetration for us and that’s how it will work”.
When asked about competition in the EV market in India with the likes of Tesla and Vietnam’s VinFast preparing to enter, Malhotra said, with more EV options coming to the market, the adoption will become faster and penetration will become much more deeper.
Currently, in the mass market, electric car penetration is only 2 per cent, in the luxury segment, it is 6-7 per cent.
On Internal Combustion Engine (ICE) vehicles, the company, which unveiled the new XC90 priced at ₹10.3 million (£92,164.63), is considering launching the new version of its XC60 in India this year, Malhotra said.
Regarding the phasing out of ICE models, he said, “There is no plan to phase out our IC engine cars. They are dependent on the consumer demand, so we are seeing a very good demand for our IC engine.”
He further said, “We will be also bringing, at some point of time, the new XC 60 as well. So I think IC engines will continue. They are equally important for us.” (PTI)
