ONE IN FOUR VOLVO CARS SOLD IN INDIA IS NOW ELECTRIC

As the Indian luxury car market is expected to double by 2030, Volvo Car India is betting big on sustainability, localisation, and customer-centric innovation to steer its next phase of growth. In a conversation with UTKARSH AGARWAL of BW Businessworld, JYOTI MALHOTRA, Managing Director of Volvo Car India, talks about these and much more. Excerpts

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Volvo Car India has made a strong push toward electrification. Could you share what percentage of your current sales are EVs and ICE?

At Volvo Car India, our commitment to sustainable mobility is paramount, directly aligning with our global strategic vision towards electrification. Currently, Battery Electric Vehicles (BEVs) constitute approximately 25 per cent of our total sales, with the remaining proportion comprising Internal Combustion Engine (ICE) models equipped with mild hybrid powertrains.

The company plans to introduce one new EV model every year. How do you balance your global portfolio with local demand signals? Could you elaborate on your product pipeline for 2025-2026?

Our strategy entails the annual introduction of one new electric vehicle model to the Indian market. In 2025, following the recent launch of our new XC90, we will now introduce the highly anticipated EX30, and the refreshed XC60, in Q3. And additional electric vehicle launches are planned for the subsequent years.

Given your strong stance on sustainable mobility, what more do you believe needs to be done at a policy or ecosystem level to turn EV advocacy into mass EV adoption?

Despite many luxury EVs offering ranges exceeding 400 km per charge, range anxiety persists among consumers. A critical requirement is the expansion of fast-charging infrastructure along highways, and a policy framework that incentivises public-private partnerships (PPP) in establishing these charging stations would significantly accelerate the pace of electrification. While the momentum for electric mobility in India is undeniably growing, transforming EV advocacy into mass adoption necessitates a holistic ecosystem approach, demanding collaborative efforts from government, industry, infrastructure providers, and consumers.