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Volvo Cars has announced that the company will assemble cars in India and the first cars will roll off the production line this year itself. Volvo Cars is working together with Volvo Group – truck, bus and construction equipment manufacturer in India , and will use Volvo Group’s existing infrastructure, production licence and manufacturing facility which is situated near Bangalore.
In the beginning the company will focus to manufacture models that are based on Volvo’s SPA modular vehicle architecture. The first cars to roll off the production line will be the XC 90. Addition models will follow suit soon. This venture will help Volvo increase their share in the growing luxury car market in India. Currently the company has a share close to 5 per cent, which they plan to double by 2020.
Commenting on the occasion, Tom von Bonsdorff, Managing Director, Volvo Auto India, said “It’s a sign of the company’s strong commitment in India. 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 sizable 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.”