India Inc India Inc: Friday, 19 May 2017 06:42

Volvo to assemble cars in India

Swedish carmaker Volvo has announced plans to start vehicle assembly operations in India this year.

Its Indian assembly operations will be located near Bengaluru and will focus on models based on Volvo's SPA modular vehicle architecture.

The company has been importing all its cars sold in India, which mean taxes of up to 160-170 per cent on every unit.

Volvo Cars is working with Volvo Group India – the truck, bus, construction equipment and Penta engine manufacturer – to establish its assembly operations. It will make use of Volvo Group India's existing infrastructure and production licences.

Haykan Samuelsson, President and Chief Executive of Volvo Cars, said, "Starting vehicle assembly in India is an important step for Volvo Cars as we aim to grow our sales in this fast-growing market and double our market share in the luxury segment in the coming years."

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