Committed to full portfolio of EVs for India, XC40 Recharge a first: Volvo
Volvo Cars India has been closely monitoring the market scenario here since the Covid-19 outbreak earlier in 2020 and while the Swedish company recognizes the challenges that continue to face it and the automotive industry as a whole, also promises an exciting 2021 which would see the debut XC40 Recharge, its first all-electric vehicle and the new S60 sedan.
The XC40 Recharge is a key product in Volvo's commitment towards sustainable mobility and at a time when rival luxury car brands have either launched or confirmed bringing in their respective EV offerings, Volvo won't want to be left without a promising product either. "Volvo is committed to sustainable mobility and plans to bring full portfolio of electric cars in India. This is part of our global commitment to reduce our CO2 footprint per car by 40 per cent by 2025," Charles Frump, Managing Director at Volvo Car India told HT Auto. "Our first battery electric vehicle, Volvo XC40 Recharge, is coming to India in the second half of 2021. XC40 Recharge has received a very good response from customers in other markets and we are expecting the same in India as well."
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Frump also chose to praise the EV policy in the country and said it will especially help the luxury segment. "The EV policy is great and we would recommend the government to continue with it without any changes. The current strategy is set-up for success as luxury cars will lead the EV space in India."
And while XC40 Recharge could potentially put Volvo in a position of power in the luxury EV segment, it also may, especially, hit the right chord with a younger buying audience because of a comparatively higher level of awareness. But Frump highlighted that Volvo as a brand and Volvo's product portfolio connects with a younger demographic. "We have observed that customers considering Volvo Cars are much younger than our competitors," he said. "They want something new and a unique luxury offering for themselves. A lot of our customers are looking at alternatives to the German luxury cars that their parents drove and now they want to experience the true Swedish luxury."
As such, the company will drive in the new S60 as its first launch in the new year for India and Frump believes the path towards recovery that the luxury segment as whole is on will further bolster prospects. "We have observed a significant demand in our high-end luxury SUVs - XC60 and XC90 apart from the entry-level XC40. We are also bringing the All-New S60 at the start of the year to add to this excitement," he explained.