In a strategic move to bolster the adoption of electric vehicles (EVs), Volvo Car India has deferred the prices of its electric offerings, the XC40 Recharge and the C40 Recharge, while simultaneously implementing a 2% price increase across its other models. The XC40 Recharge is now priced at INR 57,90,000, and the C40 Recharge at INR 62,95,000. In contrast, the updated prices for internal combustion engine (ICE) models include INR 68,90,000 for the XC60, INR 68,25,000 for the S90, and INR 1,00,89,000 for the XC90.

Commitment to sustainable luxury e-mobility

Jyoti Malhotra, Managing Director of Volvo Car India, reiterated the company’s focus on sustainable luxury e-mobility, affirming their commitment to becoming an all-electric company by 2030. Despite rising forex and input costs, the decision to maintain current EV prices underscores their dedication to encouraging EV adoption. However, Malhotra cautioned that industry dynamics might necessitate a reevaluation of EV prices in the future.

Growing response to Volvo’s EV lineup

Volvo Car India’s EVs have received positive responses from customers, with 580 units of the XC40 Recharge sold to date. Notably, the XC40 Recharge garnered immense interest, with 150 units booked within two hours of bookings opening in July 2022. Launched in September 2023, the C40 Recharge has seen swift adoption, with 180 units delivered to customers across India in a short span.

Online sales and manufacturing in India

Both the XC40 Recharge and C40 Recharge are exclusively sold online directly by the company. Customers can place orders on the Volvo Car India website with a refundable deposit of INR 1 lakh. The assembly of these EVs for the Indian market occurs at Volvo Car India’s manufacturing facility in Hosakote, Bengaluru, Karnataka.

Future commitment to EV market growth

Volvo Car India reaffirms its commitment to contributing to the growth of the EV market, planning to launch one new EV model every year. The company’s current pricing strategy positions it as an opportune time for potential buyers to invest in EVs from the Volvo stable before any future price adjustments.

As the automotive industry undergoes dynamic shifts towards sustainable and electric mobility, Volvo Car India’s approach reflects its dedication to facilitating a smoother transition for consumers towards EV adoption.