Swedish luxury automaker, Volvo Cars is all set to be aggressive in its Indian business strategy as the company gears up an array of new launches including full electric vehicles in India in 2019. Currently Volvo has a market share of about 5 percent in India among the luxury car makers and the company aims to double that by 2020.
In an interview to PTI, Charles Frump, MD, Volvo Auto India commented, “Our game changer would be an array of electrified cars that would be propelled by hybrids, plug-in hybrids and even a full electric which we plan to launch in India soon after its global launch in 2019. We are intending to be leaders in the e-luxury space”.
Globally, Volvo has already announced that all its future models will come with a full electric powertrain and the company has commited to sell one million electric cars globally by 2025. Keeping Indian Government’s ambitious plan to electrify vehicles in India by 2032, Volvo hopes India will play a major role in contributing to company’s global sales goal of EVs.
“The focus right now is towards diversifying our product portfolio with hybrid and electrified options,” Frump said.
Going into 2018, Volvo will launch its youngest XC40 SUV in India around May this year. The company plans to bring in many new products and also expand its reach by opening up more dealerships across India.
In 2017, Volvo Cars India sold a total of 2,029 units in the Indian market growing at a massive 28 percent growth. The company hopes to double its dealership network soon, currently the company has 18 dealers across the country.
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