'We expect the EV market to grow further': Jyoti Malhotra

With EVs comprising a fourth of its sales volumes in India in CY2024, Swedish luxury carmaker Volvo bets big on the luxury electric vehicle market's growth potential in the coming years. Volvo will launch the locally-assembled EX30 compact SUV in India by end-2025.

By Sergius Barretto

14 Mar 2025

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'We expect the EV market to grow further': Jyoti Malhotra

Volvo Cars India recently launched the latest version of its flagship SUV - XC90 - in the country and the Swedish automaker is gearing for more launches in 2025, including an all-new EV acting as an entry card for first-time luxury car buyers.

The Volvo EX30 compact e-SUV is slated for launch by end-2025, and according to Jyoti Malhotra, MD, Volvo Cars India, "One in every four cars Volvo sold in India last year was an electric. We expect the market to grow further and we will bring the EX30 by end-2025. That will expand the pond and address a different set of customers."

"We are hopeful to attract a lot of young luxury car buyers who are also first-time Volvo buyers into the Volvo fold with the EX30. CBUs do not make sense for us; we want to assemble and sell cars in India. We will continue on that path," Malhotra adds in this video.

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