[Global Network comprehensive report] According to India’s “Economic Times” reported on February 14, Volvo has finalized plans to assemble plug-in hybrid vehicles in India, is currently considering the realization of local production of electric vehicles in India, aimed at India The new energy vehicle market has taken the lead.
Swedish automaker Volvo hopes to lead the German luxury car market in the Indian luxury car market with a new energy vehicle portfolio. The company plans to launch its first locally assembled plug-in hybrid in India in the second half of this year and plans to launch six plug-in hybrids and electric vehicles in India by 2021.
Charles Frump, general manager of Volvo Cars India, said that in January the Indian government announced a tax cut on pure electric vehicles (components) and decided to reduce the import tariffs on electric vehicle parts from 15-30% to 10-15%. Volvo’s assembly of electric vehicles in India offers business opportunities.
Volvo set up a factory near Bangalore and began assembling cars locally in 2018 to stand out in the highly competitive 40,000 high-end car market. Local assembly has helped Volvo to win initially, and the company’s three local models accounted for half of its total sales in India.
Post time: Feb-19-2019