NEW DELHI: Volvo, the Swedish automaker, is set to introduce two new electric cars in the Indian market before the end of this year. This move is part of Volvo’s strategy to increase its market share in the luxury car segment.
“We will introduce the all-new Volvo XC30 electric car in the Indian market before the end of this calendar year,” said Jyoti Malhotra, Managing Director at Volvo Car India, in an interview with Financial Chronicle. The XC30 is the smallest EV in Volvo’s current lineup, having been launched in global markets last year, and it boasts a range of 480 km on a full charge.
Volvo also intends to bring the Volvo EX90 electric SUV to India this year, although the specific timeline remains undisclosed. This expansion aligns with the company’s global commitment to transition to electric vehicles entirely by 2030.
“We are strengthening our electric vehicle portfolio with good response from the market to our existing two electric models such as the XC40 Recharge and the C40 Recharge electric SUVs,” Malhotra stated. He also mentioned the global unveiling of the all-new Polestar ES90 electric sedan, which is also slated for Indian release.
“As the EV market matures here in India, Volvo has plans to beef up its electric portfolio to give wider choice to the buyers,” Malhotra noted. He highlighted that 27% of Volvo’s total sales currently come from its two electric models, and the brand holds a 24% share in the luxury electric vehicle segment in India, which is currently led by Mercedes-Benz.
“Last year, the luxury electric vehicle market touched between 3,000 to 3,500 units,” said Santosh Iyer, MD and CEO at Mercedes-Benz India. He added that electric vehicles are experiencing steady growth in the country.
In related news, Volvo recently launched the facelifted version of its flagship XC90 model at an introductory price of Rs 1.03 crore at showrooms across India on Tuesday. The 7-seater SUV features a redesigned front with a chrome-accented grille, sleeker LED headlamps, revised taillamps, and new front and rear bumper designs. It rides on 20-inch black diamond-cut alloy wheels, equipped with aluminum roof rails and a panoramic sunroof.
The XC90 also features air suspension with an active chassis and claims to have the world’s most advanced air purifying system for a car. Volvo’s current model portfolio includes the XC40, XC60, and XC90 SUVs, the S90 sedan, and the C40 Recharge and EX40 electric SUVs.
