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Volvo to Make in India Soon, Announces Plans to Locally Produce Cars
The first Volvo model to be assembled in India is the XC90 SUV. Additional models slated for local assembly will be announced at a later stage. (Image: Manav Sinha/News18.com)
Volvo Cars announced that it will start vehicle assembly operations in India in 2017. The move is expected to help the company for further growth in the premium car segment in India.
The assembly operations will be located near Bengaluru in southern India and focus on models based on Volvo’s SPA modular vehicle architecture. The first Volvo model to be assembled there is the XC90 SUV. Additional models slated for local assembly will be announced at a later stage.
In establishing its assembly operations, Volvo Cars will work together with Volvo Group India - the truck, bus, construction equipment and Penta engines manufacturer, and will make use of Volvo Group India’s existing infrastructure and production licenses near Bengaluru.
“I am pleased that as of this year we will be able to start selling Volvos that are Made in India,” said Håkan Samuelsson, President and CEO of Volvo Cars. “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 luxury segment in coming years.”
Tom von Bonsdorff, Managing Director, Volvo Auto India said “Backed by a robust sales growth, expanding network and an array of new product launches the local assembly will provide us an impetus to garner a sizeable segment share in the medium to long term. Each locally assembled Volvo Car will have same International standards as anywhere else in the world. With our continued efforts we are sure to build a strong foundation for our business in India.”
Volvo’s decision to start assembly in India and market its vehicles as ‘Made in India’ fits well with a similarly named initiative launched by the national government several years ago, which seeks to highlight and promote Indian manufacturing prowess.
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