Volvo Car India defers increasing price of EVs, increases prices of other models

Swedish luxury carmaker Volvo Car India has deferred the prices of its EV offerings –the XC40 Recharge and the C40 Recharge while effecting a 2% price increase on its other models, as part of its commitment to encourage the adoption of electric vehicles. 

The XC40 Recharge is priced at Rs 57,90,000 while the C40 Recharge is priced at Rs 62,95,000. The XC60 is now priced at Rs 68,90,000, whereas the  S90 is at Rs 68,25,000, with the XC90 at Rs 1,00,89,000, noted a press release.

"We are focused on sustainable luxury e-mobility and have committed that we will be an all-electric company by 2030. We encourage the adoption of EVs and as part of this endeavour have decided that as of now we will hold the prices of our EVs despite rising forex and input costs. Industry dynamics may however compel us to revise the EV prices at a later date," said Jyoti Malhotra, Managing Director, Volvo  Car India.

Speaking to Autocar Professional last year at the launch of the C40 Recharge, Malhotra had said that young customers in India are much more sensitive to the environment (climate change) and they are going to be a key driving force in the acceleration of EVs.

The company's plans of launching one electric vehicle every year till 2025 are intact and with every additional launch, the ecosystem is also evolving with fast-expanding EV sales.