Volvo intends to double its market share in the luxury car sector, taking 10% of the space by 2020
Volvo Cars plans to sell EVs and electrified cars in India from 2019, as the automaker pushes to double its market share in the country by 2020.
“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,” said Charles Frump, managing director of Volvo Auto India in an interview with PTI.
“The focus right now is towards diversifying our product portfolio with hybrid and electrified options,” said Frump. “We are intending to be leaders in the e-luxury space,” he added. The brand will also expand its current 18-stroing network of dealerships.
Under this push, the company would expand its presence in the country’s luxury car sector from 5% (it sold just over 2,000 units in 2017), to 10% by 2020.
From 2019 Volvo has said that all vehicles produced worldwide will be electrified, and intends to have sold one million EVs and PHEVs globally by 2025. We can assume therefore that many of the models sold in India will be some form of hybrid, perhaps even including a small proportion of battery-EVs.
However, its Indian ambitions aside, China is likely to remain the company’s primary focus as its Chinese owner Geely looks to serve booming demand and tightening regulations.