Volvo Car India defers price increase of its EVs while increasing prices on other models

As part of its commitment to encourage adoption of EVs, Volvo Car India has deferred the prices of its EV offerings –the XC40 Recharge and the C40 Recharge while effecting a 2% price increase on its other models.  The XC40 Recharge is priced at 57,90,000 while the C40 Recharge is priced at 62,95,000. The updated prices for the ICE models are as follows: the XC60 is now priced at ₹68,90,000, the S90 at ₹68,25,000, and the XC90 at ₹1,00,89,000.

“We are focused on sustainable luxury e-mobility and have committed that we will be an all-electric company by 2030. We encourage the adoption of EVs and as part of this endeavour have decided that as of now we will hold the prices of our EVs despite rising forex and input costs. Industry dynamics may however compel us to revise the EV prices at a later date. So it’s the best time to buy EVs from the Volvo stable before prices go up” said Mr. Jyoti Malhotra, Managing Director, Volvo Car India. 

Volvo Car India’s EVs have had good response from customers and till date 580 units of XC40 Recharge have been sold. It would be recalled that 150 units of the XC40 Recharge were booked within two hours of the bookings opening in July, 2022. The born electric C40 Recharge was launched in September, 2023. Within a short span 180 units of C40 Recharge cars have been delivered to customers across India.

Volvo Car India is committed to grow the EV market with its commitment to launch one new EV model every year. Both XC40 Recharge and C40 Recharge are only sold online directly by the company. Customers can place orders online with a refundable deposit of Rs 1 lakh on Volvo Car India website. The assembly of both the XC40 Recharge and C40 Recharge for the Indian market takes place at Volvo Car India's manufacturing facility in Hosakote, Bengaluru, Karnataka.