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Volvo plans new car launch, adoption of EVs in luxury segment

Wednesday, 28 Feb 2024
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Swedish car maker Volvo expects a faster adoption of electric vehicles (EVs) in the luxury car segment within the overall passenger vehicle division in the country. As much as 50 percent of the total passenger vehicles sale is expected to come from this segment.

The company plans to introduce its two fully electric cars, EX30 and EX90, in the domestic market next year. EVs may account for one-third of its total car sales in India this year.

Nearly 30 to 35 percent of its new customers are for electric cars, and with the newly launched C40, the company has witnessed a younger customer profile. Resonating the growth that Volvo Car India saw in the adoption of EVs, it has been selling more EVs and its internal combustion engine (ICE) products are made to order.

 
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