The Swedish brand Volvo, owned by Geely, is all set to launch the EX30, its smallest EV to date, in India next year. In the mid-term, Volvo has committed to releasing at least one electric vehicle per year and the bigger EX90 EV will arrive later.
The smaller EX30 is presently the most cheap electric SUV in Volvo’s global lineup, having sold over 35,000 units by June 24th. Volvo now sells the XC40 Recharge and the C40 Recharge in India. These electric SUVs will now be known as EX40 and EC40, according to a new nomenclature used by the company for its electric vehicle lineup.
Volvo’s Asia Pacific head, Martin Persson, is in India to take a closer look at the Indian market and made these statements. While global EV growth has slowed, Martin reiterated that Volvo is committed to reaching 100% electrification by 2030. Martin stated that the company predicted the S curve growth trajectory and believes that now is the moment to talk about plug-in hybrids, which could reduce range anxiety and serve as a step toward electrification.
Speaking about India, Martin stated that while EV penetration is low in the entire market, he expects it to be greater in the premium category. He stated that while India is presently Volvo’s smallest market in the APEC area, he expects it to exceed the rest of the region and become the second most significant market. The company is developing a complete plan to capitalize on this growth, which will include a focus on brand development, dealer network expansion and digitalization.
