Volvo to drive in electric models to double mkt share in India

New Delhi, Jan 14 (PTI) Swedish luxury carmaker VolvoCars aims to launch a range of products in India, including afully electric vehicle next year,...

New Delhi, Jan 14 (PTI) Swedish luxury carmaker VolvoCars aims to launch a range of products in India, including afully electric vehicle next year, as part of its plans todouble market share in the country by 2020.

The company, which sold 2,029 units in the country lastyear, has a market share of around 5 per cent in the Indianluxury car segment.

"Our game changer would be an array of electrified carsthat would be propelled by hybrids, plug-in hybrids and even afull electric which we plan to launch in India soon after itsglobal launch in 2019. We are intending to be leaders in thee-luxury space," Volvo Auto India MD Charles Frump told PTI.

Volvo has an ambition of having one million electrifiedcars on road by 2025 across the globe and expects India toalso contribute towards that target, he added.

"The focus right now is towards diversifying our productportfolio with hybrid and electrified options," Frump said.

The company, however, will also continue to bring inconventional models in the Indian market. It plans to launch anew version of its compact luxury SUV -- XC40 this year.

"By 2020, our portfolio in the country will be completewith all kinds of products like SUVs, sedans and luxuryhatchbacks," he added.

Frump said the company's roadmap is very clear in Indiawith plans to bring in new products, ensuring enhanced brandengagement and experience for its customers and spreading itsdealership network to increase reach substantially.

"Our segment share is 5 per cent and we intend to doublethe share to 10 per cent by 2020," he added.

Volvo Cars is very much on track to achieve the targetafter having registered record sales and a robust 28 per centgrowth in 2017, Frump said.

In order to realise its sales target, Volvo Cars is alsoin the process of doubling its sales network in India over thenext two years.

The automaker currently has 18 dealerships across thecountry. PTI MSSABM.

This is unedited, unformatted feed from the Press Trust of India wire.

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