Volvo has entered the EV market of India back in 2016 by launching Volvo XC90 T8 Excellence plug-in Hybrid. Along with the launch they announced that they will introduce all their hybrid electric models from 2019. Volvo is a Swedish car company and they are ready to push their hybrid vehicles into the Indian market, they are looking for the government to provide incentive and low import duty.
One of the senior officials of the Volvo groups said that they are ready to introduce their plug-in portfolios in India, But they will wait until the government develops the proper eco- system for the Hybrid and electric vehicles. Senior VP Paul Welander once said in an interview, “In order for us to do better business in India, incentive for electrified vehicles would be great”. He also said,”Sops for such ECO-friendly vehicles can help the company drive in more such products into the country where the government is already pushing for environmentally friendly vehicles.”
He also mentioned in the same interview that the government should work on reducing the import duty and to create a competitive environment for all the car makers. While framing the national budget 2018-19, the Indian government had increased custom duty for Completely Knocked Down (CKD) imports of motor vehicles, motor cars, motorcycles from 10 percent to 15 percent.
Comparing with China and US he said that the duty charges are lower in the global market, and India should be competitive. But in order to tackle these issues Volvo has started to assemble its products in India itself, they have started assembling XC90 from October last year. The managing director of Volvo cars India Charles Frump said that,” Going forward for us the clear path is electric but we are looking to get some understanding of the path for the future. So in our mind it is clear to take the hybrid route to full electric vehicles.”
So it is really clear that the Volvo is going to join the race of electric vehicle market in India.