Volvo Cars Makes in India
DH News Service, Bengaluru, Oct 18 2017, 0:02 IST
Charles Frump introduces the Made in India Volvo X90
Volvo Cars rolled out its first India-assembled car on October 10, 2017, when the luxurious XC90 came down the assembly line at its plant in Bengaluru.
Earlier this summer, Volvo announced that it would start assembly operations in India in 2017. India has shown a great long-term potential for a fast-expanding luxury segment and the decision to assemble Volvo Cars locally has provided the company a strong platform to achieve 10% segment share by the end of the decade.
The assembly operations focus on models based on Volvo’s SPA modular vehicle architecture.
Apart from the XC90, more models on the SPA architecture are slated for local assembly.
Volvo Cars is working together with Volvo Group India - the truck, bus, construction equipment and Penta engines manufacturer - for its assembly operations and is making use of Volvo Group India’s existing infrastructure and production licences near Bengaluru.
“It’s a moment of great pride for all of us at Volvo Cars,” said Charles Frump, the newly appointed Managing Director for Volvo Auto India. “The rollout of the first locally assembled Volvo Car speaks volumes for the company’s commitment to grow further in India,” he added.
Volvo Cars’ decision to assemble its models locally reflects ‘Make in India’ initiative and benefits our customers. While the Indian luxury market is still relatively small, it is forecast to grow rapidly in the coming years. Volvo currently has a segment share of about 5% and aims to double this by 2020.