Volvo Car defers EV price hike in India's auto market

Price alteration: VolvoCar India has deferred the prices of its EV offerings, the XC40 Recharge and the C40 Recharge, while implementing a 2 per cent price rise on its other models. 

The XC40 Recharge is priced at Rs 57,90,000, while the C40 Recharge is priced at Rs 62,95,000. 

The updated prices for the ICE models are as follows: the XC60 is now priced at Rs 68,90,000, the S90 at Rs 68,25,000, and the XC90 at Rs 1,00,89,000.

Jyoti Malhotra, Managing Director at Volvo Car India.“We are focused on sustainable luxury e-mobility and have committed to becoming an all-electric company by 2030."

"We encourage the adoption of EVs and as part of this endeavour we have decided to hold the prices of our EVs despite rising forex and input costs," she said.

"Industry dynamics may however compel us to revise the EV prices at a later date. So, t’s the best time to buy EVs from the Volvo stable before prices go up,” she added. 

Volvo Car India’s EVs have met with good response from customers and till date 580 units of XC40 Recharge have been sold, the company informed.