Volvo mulls setting up EV manufacturing plant in India

India and South East Asian countries are being considered for Volvo's new EV manufacturing plant.

Volvo is evaluating the possibility of setting up a new electric vehicle manufacturing plant in Asia, with India being among the main contenders.

According to Jim Rowan, CEO, Volvo Cars Global, has stated that a final decision on the location of the new EV manufacturing facility is yet to be taken. However, India and South East Asian countries are being considered.

Rowan also mentioned that the new plant will not just supply the domestic market, but will also have to cater to other countries. Therefore, the company will not only weigh in the cost benefits but will also prefer a strong logistics network.

Volvo plans to transition into a fully electric brand by the end of the decade. The carmaker plans to release one new EV every for the next few years. Last year, Volvo launched the XC40 Recharge in India and is now gearing up to introduce the C40 Recharge.

Source: ET Auto