MC Exclusive | Volvo to roll out EX90 electric SUV in India, aims for 100% sales from e-cars by 2030

Volvo EX90 at CES (Image Source: Volvo Cars)

Volvo Car India plans to line up multiple electric cars over the next few years as it aims to generate 100 percent of its product portfolio from zero-emission vehicles by 2030.

Among other upcoming models, the Swedish luxury automaker is launching Volvo EX90 SUV, which will be replacing the XC90 globally and is scheduled to go on sale internationally in 2024, a senior company official revealed.

While they didn’t share any pricing and other details of the seven-seater electric SUV, speculation is rife that it will be priced close to XC90, which comes at around Rs 1 crore (Ex-showroom).

India launch

“We revealed the EX90 last year to showcase our technological capabilities. Its launch will happen in various parts of the world starting with the US. The model has generated a lot of buzz in the global markets. We will be definitely launching this model in India. However, it is too early to share the timeline,” Jyoti Malhotra, Managing Director, Volvo Car India, said in an exclusive interaction with Moneycontrol.

Volvo EX90 is a battery-electric mid-size luxury SUV that will be manufactured and marketed by Volvo Cars for worldwide markets. It was released in November 2022 as the first bespoke electric vehicle marketed under the Volvo brand.  The production of this premium eSUV will commence at the company’s US facility late this year followed by its Chinese plant.

When queried if the EX90, like its other existing product lines, will also be assembled at its Bengaluru facility, Malhotra said, “Today we are producing everything locally. We would like to follow the CKD route for this model but it requires feasibility studies. Once we decide on its commercial launch, we will take a call.”

When asked about pricing and if it will be coexisting the XC90 (currently sold in a mild hybrid version), he said, “We would not like to comment on any speculation but what I can tell you is that the current XC90 is the second-generation model and EX90 will be its third generation.”

The EX90 performance

Delivering up to 600 kilometres of range on a single charge, according to the WLTP test cycle, EX90 charges from 10 per cent to 80 per cent in around 30 minutes, as per Volvo’s global release. It also claimed that the initially available twin-motor all-wheel drive version is powered by a 111kWh battery and two permanent magnet electric motors together delivering in its performance version 380 kW (517 hp) and 910 Nm of torque.

Malhotra affirmed that this model will be one of the critical enablers for its all-electric line-up globally, including India, by 2030. “At present, around 22-25 percent of our total sales are coming from electric cars. With the shift in preference towards environment-friendly vehicles by luxury car buyers and having wider offerings from companies in the future, our share of electric cars will easily reach 50 percent by 2025.”

Last year, Volvo decided to phase out existing plug-in hybrid electric vehicles (PHEVs) in favour of Battery Electric Vehicles (BEVs). While the XC40 Recharge was the first EV launched by the company , the launch of the C40 Recharge is slated for the second half of the year.  The Swedish carmaker recently announced the delivery of its 200th all-electric XC40 Recharge.

Volvo Auto India, which sold 1,850 units last calendar year, is looking to post at least 40 percent growth this year on account of a reduced waiting period for its models due to improved supplies, sustained demand for its existing models and also new launches.

“It is not just about the output of the cars but also the input. At the end of the day, we are assembling all the cars that we are selling here. While last year was full of challenges because of supply constraints, we are hoping for the situation to improve. 2018 was our best-ever year when we sold 2,650 cars, and in 2019 there was a slowdown, and then came Covid for two years. My personal view is that we should go back to pre-Covid levels and should do better than what we did in 2018,” Malhotra added.