Volvo Cars is examining possibilities to set up a new manufacturing facility in Asia. India and Southeast Asian countries are among the contenders. The facility being considered will be utilized to meet domestic requirements. Volvo Cars has firmed up plans to go all electric by the end of the decade.
Due to the anticipated growth of the charging infrastructure and price parity with internal combustion engine vehicles, Volvo Cars, a luxury automobile manufacturer based in Sweden, is looking into the possibility of opening a new manufacturing facility outside of China in Asia.
While a final choice on the location of the new electric car manufacturing facility has not yet been made, Jim Rowan, chief executive officer of Volvo Cars Global, noted that Southeast Asian nations like India are among the candidates. The factory under consideration will be used to fulfil domestic needs and ship vehicles to other markets across the world.
India Volvo’s Upcoming Global EV Plant
“We must ensure that we can feed not just India but also other nations from that place. We must thus consider the logistics of things after that. Rowan continued, “But (we are looking) in Asia, it’s something that we’re looking at right now. And also the cost benefits.” Volvo Cars, which has committed to making all of its vehicles electric by the end of the decade, is also open to contract manufacturing cooperation with a local partner.
In order to fulfil the rising demand for its electric vehicles in Europe and the US, Volvo Cars announced plans to build a new manufacturing facility in Slovakia last year. By 2025, internal combustion engines and electric vehicles, according to Rowan’s firm, will be priced equally. As a result, more customers will be able to purchase electric vehicles. For the foreseeable future, we plan to deliver one all-new electric vehicle annually, Rowan stated.
The XC40 Recharge, offered by Volvo Cars, costs 56.90 lakh rupees (ex-showroom) and is currently available in India.
Geely Automobile, a significant Chinese carmaker, now owns the manufacturer. Although Volvo Cars continues to be headquartered in Torslanda in Gothenburg, Sweden, Geely Motors’ corporate offices are in Shanghai.
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