Volvo India to exit diesel, plans to go full electric
NEW DELHI: Swedish luxury carmaker Volvo will be phasing out diesel cars from India by the end of this year and gradually move over to only electrics as the company works towards local assembly of green cars. T The company, owned by China’s Geely, plans to launch one electric car per year as it shifts its car portfolio to sustainable mobility, in line with the global plans of its parent for a complete transition to green, Jyoti Malhotra, the new MD of Volvo Cars India, said. T The company unveiled its first full-electric car meant for India — ‘XC40 Recharge’ compact SUV — and this will be launched towards the beginning of the festive season later this year (likely to be priced around Rs 45 lakh). M Malhotra said the company is considering local CKD (completely knocked down) operations as GST on electrics is 5% against 45-50% on larger petrol/diesel cars. “ We are evaluating (local EV) now… We are developing a business case,” he said, adding that the company will also conduct a feasibil