Volvo India plans to offer hybrid technology across its entire portfolio by 2018; set to enter EV segment in 2019
Swedish premium luxury auto manufacturer Volvo is gearing up to launch electric vehicle in the Indian market in 2019. The brand has already expressed its desire to introduce advanced technology and enriched protection in its cars in the country and now, it aims to enter the EV segment as well. The company plans to offer hybrid powertrain technology across its entire portfolio by 2018 and it will roll out its first electric vehicle in the domestic market in 2019.
Compared to the other premium luxury car manufacturers like Audi, BMW and Mercedes Benz, Volvo is yet to grab a good share in the fast growing premium car market here. But, in recent past it has seen significant sales hike and inspired by that, the brand aims to increase its market share with new models and more upgraded versions of the current ones.
Interestingly, hybrid cars will be pricier due to the 28% GST proposed for this category after the new tax system rolls out from 1st July. But, despite the fear of higher price, the brand is steady with its plan to introduce hybrid technology across its entire range.
Currently, the Swedish automaker is setting up its Bangalore plant that will be operational from next year. Currently its products like XC90 and S90 come as CKD units and with the new plant being operational, the brand will be able to increase the localisation of its cars resulting into lowered and competitive pricing.
Also read: 2016 Volvo XC90 Road Test Review
The Indian government is shifting its focus towards electric vehicles and by 2032 it wants to make the entire vehicle fleet of India electric powered. Volvo believes this futuristic and ambitious plan of Indian government would bring great opportunity for the brand and it aims to be a part of this EV drive that will make it a major player in the country.
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