Photo: Volvo
As a manufacturer, Volvo is growing stronger and faster than ever before. With production facilities in Sweden, Belgium, China, and another plant in the making in the U.S. of A., business is definitely booming. Only recently, Volvo announced that India will be added to that list, with the XC90 confirmed to be built there in CKD form.
In other words, the automaker will ship knock-down kits of the mid-size luxury SUV to the South Asian country, then Volvo Auto India will put the pieces together as per instructions. The facility where the XC90 will be assembled is located near Bangalore, and Volvo plans to add additional models to the tally at a later date, all based on the SPA platform used by all 90 Series vehicles and the XC60.
“I am pleased that as of this year we will be able to start selling Volvos that are Made in India,” commented Hakan Samuelsson, president and chief executive of the company. “Starting vehicle assembly in India is an important step for Volvo Cars as we aim to grow our sales in this fast-growing market and double our market share in the premium segment in coming years,” he concluded.
The main reason Volvo made the decision to invest in India is, of course, the rising demand for premium vehicles in the region. Still relatively small by U.S. and European standards, analysts expect a rapid growth in the coming years. At the present moment, Volvo owns almost 5 percent of the segment, and aims to double that figure by 2020. In 2016, the automaker sold 1,400 cars in India.
In related news, Volvo has four all-new models in the pipeline: the XC20 baby crossover, XC40, and S60, plus the company’s first electric vehicle. On the flip side, word on the street is that Volvo will stop developing diesel engine technology beyond 2023 due to rising aftertreatment system costs.
“I am pleased that as of this year we will be able to start selling Volvos that are Made in India,” commented Hakan Samuelsson, president and chief executive of the company. “Starting vehicle assembly in India is an important step for Volvo Cars as we aim to grow our sales in this fast-growing market and double our market share in the premium segment in coming years,” he concluded.
The main reason Volvo made the decision to invest in India is, of course, the rising demand for premium vehicles in the region. Still relatively small by U.S. and European standards, analysts expect a rapid growth in the coming years. At the present moment, Volvo owns almost 5 percent of the segment, and aims to double that figure by 2020. In 2016, the automaker sold 1,400 cars in India.
In related news, Volvo has four all-new models in the pipeline: the XC20 baby crossover, XC40, and S60, plus the company’s first electric vehicle. On the flip side, word on the street is that Volvo will stop developing diesel engine technology beyond 2023 due to rising aftertreatment system costs.
Google News