Swedish car maker Volvo is known for its safety features and technological advancement in the automobile industry. Now, the company is set to enter the EV (electric vehicle) segment. It is reported that the Swedish car manufacturer will introduce hybrid technology to all its cars by 2018 and will launch its first electric vehicle in India in 2019.
For your information, despite the new GST rates on hybrid vehicles, Volvo has not changed its plans. New plant of the company will be operational in Bangalore in 2018, and Volvo will enter India with the XC90 and the S90 products through the CKD route.
Volvo has also said that the government’s plan to shift to electric vehicles (EV) by 2032 is largely ambitious, but these type of goals will bring such a change. Volvo will launch the electric vehicles in India which might be based on the XC60 and S60 platform.
Tom von Bonsdorff, Managing Director of Volvo India, said that the Volvo cars would be priced closer to their competitors. Thus, you might not get the expected price cuts despite the local production.
The Indian government has already said that by 2032, the country will be shifted to the electric vehicles. Volvo’s plans to launch electric vehicles in India will help to achieve this goal, as more and more manufacturers will enter the EV (electric vehicle) segment.