In line with the Swedish company's global strategy, Volvo Car India will begin manufacturing of plug-in hybrid vehicles only from 2019, a company official said.
The company opened its new showroom in the metropolis today. The first one was closed down few years AGO.
"From 2019 all our new cars will be not based purely on internal combustion engines (petrol and diesel), but plug-in hybrid models which is the future", MD of Volvo Car India Charles Frump said.
Replying to a query on the future of plug-in vehicles in India due to high incidence of GST, Frump said "It is a big bet to play in the hybrid models in the country. We are working closely with the government for a supportive policy as these vehicles will protect the environment."
Asked about the launch of electric vehicles in India, he said it would follow after the global launch.
In 2017 calendar year, the company sold 2029 cars - a growth of 28 per cent year-on-year over 2016, he said.
"In 2018, we want to better the growth of 2017. Presently, the company had a market share of five per cent in the luxury segment last year", he said.
"By 2020 we want to corner ten per cent market share, he said.
With 22 dealerships at the moment across India now, another six would be added in six months time, Frump said.
Volvo presently has eight models, sedans and SUVs, in its portfolio in India.
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