Volvo XC40 Recharge Has Captured 25% Share Of Luxury EV Market, Says Jyoti Malhotra, Volvo Car India

Jyoti Malhotra, Managing Director of Volvo Car India talks about how the company is looking to target young buyers with C40 Recharge and increase EV adoption in the luxury segment. When it comes to supply chain disruptions, the company is experiencing an improved situation and aims to ramp up its production and deliver the C40 with minimum delay.

Excerpts:

Q. What makes the C40 Recharge stand out from the XC40 Recharge?

The biggest difference is the design, C40 is an all-new car with a very bold, stylish and edgy design that sets it apart... We are offering premium sunroof, pixel headlights for the first time in India. In terms of range, this gives a 530 km range in a single charge as per the WLTP cycle. This is a futuristic EV that we are offering in the Indian market.

Q. Volvo currently holds a 25% market share in the luxury EV segment. How much do you wish to capture with the introduction of C40 Recharge?

It would be difficult to put a number here but our idea is to expand the pond. We want more customers to come forward and buy EVs. EV adoption in the luxury segment is increasing month-on-month and we see more customers than the previous month. I am sure this will help us, as well as the industry, to expand the pond and attract more customers to buy EVs. Our ambition is that by 2030, we want to become a fully electric car company and by 2025, 50 per cent, And we are very much on that path. 

Q. What is the percentage of localisation in C40 Recharge?

C40 is CKD (Completely Knocked Down) model like XC40 Recharge and all other Volvo cars. We assemble in Bangalore through a CKD assembly. 

#In this process, the manufacturer completely strips down or disassembles a vehicle at the origin and reassembles it in another country.

Q. What’s your take on the newer technologies like Hydrogen, Ethanol, etc...? Will we see a shift in the Company's strategy in future?

One thing is for sure, we need some action to be done with respect to climate change. We are running out of time and we have said that we care about the planet, we care about the people. In our belief, this is the journey that we have envisaged and every country, every company is on their own path. When we talk about India, I don’t think it will be one solution. We are a country of diversity and I’m sure many solutions will come and together we will make a difference. But we are very clear that we will be moving in the direction of pure electric cars. This is our global strategy and we will stick to it.