2023 Volvo small EV SUV To Make Its Global Debut In Summer
Luxury automaker Volvo Cars intends to launch a compact electric SUV over the next 12 to 18 months in order to attract additional clients and gain a significant market share in the developing electric vehicle industry in emerging economies. And a distinct division has been created in order to have a tighter emphasis on several important markets like India, ASEAN, and other Asia Pacific nations.
Jim Rowan, the worldwide CEO of Volvo Cars, recently told a group of journalists from the Asia Pacific Region that the 2023 Volvo Small EV SUV, which would be unveiled in the summer of 2023, will have an entry price point acceptable for markets like India and other ASEAN nations.
“Beginning to accept and adopt complete BEVs are emerging markets, according to Rowan.
“As we introduce a smaller SUV, I believe it will benefit us and some of these markets as well, as it is a smaller, less costly car and it will come with several battery sizes.
It’s great that a consumer may select from a variety of ranges and pricing alternatives. It will be fantastic both as a city automobile and a motorway vehicle “said Rowan.
This 2023 Volvo Small EV SUV is a part of Volvo’s portfolio-building strategy, which calls for the release of one new EV vehicle per year. One of the first automakers to pledge to turn all-electric by 2030 was Volvo.
Market reaction to the Volvo XC40 Recharge, which was introduced in India last year, has been overwhelmingly positive. The firm is on track to achieve its goal of achieving 50% of its total sales from EVs by 2025 with the addition of a compact EV SUV at the entry level and the EX90 at the high end of the market in the coming years.
In India, the firm sold roughly 1,850 automobiles in 2022, and it projects that its sales would increase by about 50% to 3,000 cars in 2023. Although the figure seems incredibly low, if it meets its EV sales goal, it may very well be the market leader in the sector, which is expanding rapidly. Volvo hopes to reduce its carbon impact by 40% compared to what it had in 2018 and plans to sell 500,000 electric vehicles globally by 2025.
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