Volvo may set up its new EV manufacturing facility in India: Report

Volvo, in 2022, had announced its plans to expand its certified used-car business across India by early 2024

Swedish luxury carmaker Volvo Cars is exploring possibilities to set up a new electric vehicle manufacturing facility outside China and India is a contender in the race, a report by the Economic Times (ET) said. The demand for EVs is expected to jump in 2023 due to advancements in charging infrastructure and price parity with diesel and petrol engine vehicles. 

According to the chief executive officer (CEO) of Volvo Cars Global, Jim Rowan said that the final decision on location is yet to be taken but India and Southeast Asian countries are among the top contenders.

"We need to make