After setting up its new facility for a year, Volvo Car India wants to hasten up its plans to start its manufacturing industry in India. Making the majority of its products to be manufactured in the country for the next two years is a hope that Volvo Car India aims to achieve. It is an important step for the company if they wish to keep in the contest with their rival from German, BMW, Mercedes, and Audi.
There’s a chance that Volvo will start its production for their another car in the second semester of 2018 and also add new models in the following years as for now, Volvo still produces its 7-seated SUV SC90 and S90 in India.
We are currently assembling two types of cars at our Bangalore plant, those being XC90 and the latest S90. S90 itself comprises 10% of our sales volume in India, while the XC90 contributes 20%. So, a total of 30% of our sales in India are manufactured from our plant there. However, we would like to produce at least arround half of our volumes in India by producing a third car”, said the Volvo India MD Charles Frump, who was coming to the CEOs conference in Sweden with India Prime Minister, Narendra Modi, at the Stockholm city hall.
Frump, while also refusing to give specific detail about the talk, said that it may be shorter or longer version from their current Scaleable Platform Architecture (SPA). Volvo Car India will be launching its new SUV XC40 which is the smallest version, in the early second half of 2018. By taking this step, Volvo hoped that it will aid them to sustain its strong double-digit growth momentum and build its market share within the tense competition.
Volvo Car achieved a sturdy 28 annual growth in volumes and also end the last year with their highest retails point on 2,029. The company plans to double its segment share to 10% at the end of 2020.
Volvo Car India also preparing to expand its plug-in hybrid and electric vehicle portfolio in the country. Frump said that in 2019, every new car that the company launch will be electrified and erasing the internal-combustion-engine only cars.
“Our vision is that by 2025, we would have launched one million electrified cars globally”, said the man. Frump believe that India, after sharing the same vision with the company, will try to achieve e-mobility ambition by 2030.