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One In Four Volvo Cars Sold In India Is An EV Says Volvo’s Jyoti Malhotra At IEC 2024
At the India Economic Conclave, Volvo Car India MD Jyoti Malhotra highlighted the rapid adoption of electric vehicles in India, with EVs now accounting for 25% of Volvo's sales. He emphasized the growing importance of sustainability for consumers, particularly younger generations, who view EVs as a symbol of status and eco-consciousness. Malhotra stressed the potential for India to become a leader in the electric vehicle market, reducing oil imports and improving air quality.
Saptak Bardhan
Updated Dec 15, 2024, 11:09 AM IST
One In Four Volvo Cars Sold In India Is An EV Says Volvo’s Jyoti Malhotra At IEC 2024
Jyoti Malhotra, managing director, Volvo Car India at the 10th edition of the India Economic Conclave claimed that one in every four cars that are sold by Volvo in India is electric, highlighting the rapid adoption of electric cars in India.
Speaking on sustainability being the need of the hour, Malhotra stated that Volvo is a symbol for safety and sustainability is important for the safety of the planet. He further said that sustainability for the new generation of aspiring customers is extremely important as they choose electric vehicles as a medium of transportation.
Moreover, luxury consumers have started playing the role of influencers in society which has affected the sales of luxury electric vehicles. He further added that the green number plate of electric vehicles has also become a social status with people wanting to be seen driving a sustainable and eco-friendly car.
Malhotra opined that electrification is going to be critical for the Indian car market with electric cars reducing the reliance on internal combustion engine-powered cars, thereby cutting oil imports from other countries which is approximately $71.3 billion in the first half of FY25, as per a media report.
Furthermore, he stated that fewer emissions from electric vehicles would result in improving the air quality index which has been a major problem for metropolitan cities in India. While concluding his address, he stated that while India fell behind when it came to the race of internal combustion engine-powered cars globally, there is a real opportunity to make a mark in the battery electric vehicle (BEV) market.
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