Volvo is one of the few major automotive OEMs which has been very vocal about the need to transition into battery-powered electric vehicles (BEVs). The Swedish carmaker is focussed on becoming a fully-electric brand by the end of this decade, and hence we see more and more BEVs being launched in recent times.
In a recent roundtable conference with the media, Martin Persson, Head Asia Pacific excluding China (APEC), Volvo, confirmed that going forward Volvo will launch one EV in India every year. For reference, Volvo launched the C40 Recharge crossover in India last year, and a single-motor variant of XC40 Recharge this year.
Volvo EX30 launch in 2025, EX90 also in pipeline
The next EV to be launched in India by Volvo will be the EX30 which is slated to make its debut next year. The EX30 is a unique EV in its kind, being the first subcompact electric SUV in the luxury space. The most affordable electric SUV in Volvo’s global lineup, the EX30 has registered sales of 35,000 units in the global market.
Slotted below the XC40 Recharge, the EX30 is available in two derivatives– single-motor and twin-motor. As expected, the former gets a single electric motor, rear-wheel powered setup whereas the latter gets an all-wheel drive configuration. Both variants are equipped with the same 69 kWh battery, though Volvo is yet to officially reveal the exact WLTP range for this model.
Volvo also claims the EX30 to be the most sustainable model ever to be made on its factory floor. Apart from the all-electric powertrain, the EX30 employs an extensive amount of sustainable materials both inside and outside. As a result, it claims to leave the lowest carbon footprint that any other car. Besides the EX30, Persson also confirmed that the EX90 is also in the pipeline for the Indian market even though he refused to mention an exact launch timeline for the same.
Change in nomenclature, new ICE models
Volvo has decided to change the nomenclature of its EV lineup to distinguish it from the existing ICE lineup. Like the upcoming EX30 and EX90, the current XC40 Recharge will be renamed EX40, thus dropping ‘XC’ and ‘Recharge’ from its names completely. Similarly the C40 Recharge will be renamed as EC40, with ‘E’ denoting the electric.
With Volvo clearly heading towards a greener future, the question arises if the road for ICE vehicles has come to an end? Persson responded by saying, “I think what you should understand is that when we now launch any new product, they will be products OK to fit into the future. But it’s not like we withdraw the products (ICE models) we have. He further confirmed that Volvo will launch updated iterations of XC60 and XC90 in India in the near future.
Over 1000 BEVs sold in India
During the interaction, Volvo confirmed that more than 1000 units of BEVs were sold in India ever since the XC40 Recharge was launched in 2022. However, the Swedish brand didn’t provide a breakup nor an exact figure. The Indian luxury market witnessed sales of around 45,000 units in 2023 out which 7% percent were EVs at over 3,100 units. Out the total luxury vehicle sales, Volvo claims to hold a market share of 23%.
Persson also sheds light on the growing demand and popularity of SUVs in India. Volvo currently has only 5 models in its India portfolio out of which there is only one sedan on offer— the XC90. He said while sedans aren’t dead, the global automotive market is definitely favouring the SUVs at the moment. However the trends could see a change after some time.