The tariffs are expected to impact manufacturers such as Volvo Group and Stellantis with facilities in Mexico, which is a major exporter of heavy truck into the United States, along with Canada, Japan and Germany. Also, the US is the largest export market for Daimler's trucks.
Gadkari said these stretches will have hydrogen filing stations, set up by India Oil and Reliance Petroleum.
The Volvo XC60 is the Swedish company's quintessential volume driver, having sold over 27 lakh units globally till now. Check out what it has to offer in its updated avatar.
The new Volvo XC60 will rival the likes of the Mercedes-Benz GLC, BMW X3 and Audi Q5.
Volvo will incur restructuring costs of as much as 1.5 billion Swedish kronor ($140 million) that will impact the company’s second-quarter results
Volvo Group's lay-offs are the latest response from a car and truck industry that is reeling from the Republican president's tariffs on certain parts, which is expected to increase the cost of manufacturing vehicles
The new facility is expected to create over 2,000 direct jobs and significantly boost production capacity
Volvo Cars said in a statement that by 2030 it now aims for between 90% and 100% of cars sold to be fully electric or plug-in hybrid models, while up to 10% would be so-called mild hybrid models if needed.
The now signed preliminary agreement is non-binding. A final agreement is expected within this year, with the goal to close the final transaction in Q1 2025, subject to necessary examination and approvals by the respective authorities
The automaker did not disclose the size of the investment made by the Volvo Cars Tech Fund, the Swedish firm's corporate venture capital arm.
The company further said EVs may account for one-third of its total car sales in India this year.
Volvo Car India said the C40 Recharge car will be minutely examined by its technical experts to find out the cause of the fire.
Following the price hike of internal combustion engine (ICE) vehicles, the XC60 is now priced at Rs 68.9 lakh, the S90 at Rs 68.25 lakh and the XC90 at Rs 1,00,89,000, Volvo Car India said in a statement.
Volvo Car India had retailed 1,851 cars in the domestic market in 2022 calendar year, the company said in a statement.
Automakers including Mercedes, Audi, BMW, JLR and Volvo have sold around 33,000 units during the first nine months of this year as against 36,000 units sold in 2022
While a majority of the cars Volvo sold in Europe were diesel as recently as 2019, in 2022 they made up just 8.9% of the Swedish carmaker’s sales.
Volvo has brought its coupe-styled EV, the C40 Recharge, to India. Based on the XC40 already on sale, the C40 gets slightly different styling, the same powertrain, but better range.
While the Swedish carmaker didn’t reveal the price points of the C40 Recharge, it indicated that the product will be a bit more expensive than the XC40 Recharge (priced at Rs 56.90 lakh, ex-showroom)
"The deal is the largest commercial order to date for Volvo electric trucks, and the first 130 trucks will be delivered in 2023 and 2024," Volvo said in a statement.
The Indian automobile industry is currently working to make its products meet the second phase of Bharat Stage VI, equivalent to Euro-VI emission norms, in real-time driving conditions. Four-wheeler passenger and commercial vehicles will need more sophisticated equipment to be added to meet the next level of emission standards.
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The company, which will launch the electric version of its SUV C40 in the fourth quarter of 2023, will keep launching one electric vehicle every year in the country going forward.
EV sales is expected to surge on the back of development of charging infrastructure and price parity with internal combustion engine vehicles.
The Swedish carmaker, wholly owned by China's Zhejiang Geely Holding Group, is expected to launch at least six new battery electric vehicles through 2026, the two people told Reuters.
Aligned with the Government’s vision for sustainable, efficient and affordable logistics, Volvo and Eicher are committed to the rapidly modernizing Indian logistics ecosystem through application-specific alternate fuels & smart support solutions