Volvo Cars, a Swedish luxury automaker that plans to introduce a locally built electric vehicle to the Indian market by the end of the year, is examining chances to go entirely electric in the nation by 2025.

Volvo Cars India, which sells Volvo XC40 Recharge for ₹ 56.90 lacks (ex-showroom) in India, has observed strong consumer demand for electric vehicles. The company reported a better-than-anticipated reaction, with only supply limiting sales. Volvo Cars will introduce its second electric vehicle, the C40, to satisfy consumer demand in the 4th quarter of this year. The XC40 Recharge is assembled at Volvo Cars India's facility in Karnataka, India.

Nick Connor, president of Volvo Cars in Asia Pacific, stated, "Currently, the pure BEV luxury sector is quite limited. Therefore, we must continue selling modest hybrid gasoline vehicles. However, the tipping point will occur early on. Our strength is that we aren't a mass market but a specialized automaker. We can assert that we will be the sole manufacturer of BEVs well ahead of our competitors. We will expedite the implementation of electric vehicles. Perhaps not this year, but by 2025, India will be 100% electrified." Volvo Cars have finalized global plans to transition to all-electric vehicles by the end of this decade.

• Also read  "RidePilot" Volvo First Hands-Free Driving System Will Be Released In California
  Volvo Cars will introduce 1 new electric vehicle annually for the next few years to capitalize on the possibilities in this rapidly evolving market. The company aims to generate 50 percent of its global revenues through BEVs by 2025. Similar proportions of electric vehicle sales are anticipated in India.

Connor continued, "Our consumers in India are the freshest in the world, with ages ranging from 24 to 40." We have observed that these purchasers are more environmentally conscious and favor electric vehicles." After the C40, Volvo hopes to introduce its flagship EX90 vehicle in the country. A tiny electric SUV will also arrive in the United States around 2025.

• Also read  Electric Vehicles Market: The Economic Survey predicts that India will sell 1 million electric vehic

That demand for premium cars in the region remains robust. Last year, India was Volvo's fastest-growing market in the area, according to Connor, and the country's expanding number of billionaires bodes well for the future.

Sales of expensive cars on the Indian market are anticipated to surpass the previous record of almost 40,000 units in the current calendar year (2018). This year, Volvo Cars anticipate its volume surpassing its peak of 2,600 vehicles. Three to four months' worth of orders are pending for the company's automobiles.