Volvo Group has committed US$250 million of investment over the next three years in capacity expansion and new products in India. In a span of 24-36 months, Volvo’s India infrastructure will begin to churn out most models from its line-up with the added possibility of hybrid variants too. Volvo has set a vision of selling a million electric vehicles by 2025 and India will be a key contributor to that target, it notes.
Volvo plans to have majority of its fleet in India electrified by 2020 in line with its global transition.
Although Volvo is not a major player in India, it has fast tracked global models into India within six months of global launch. Currently, the India-based arm is studying how it can bring in the company’s first electric car which is slated for global launch in 2019. The Bengaluru-based production infrastructure rolled out its first assembled XC90 SUV a few months ago keeping in line with its announcement that it would start assembly operations in India in 2017.