• Sunday, May 22, 2022

Business

Volvo Cars moves into fast-growing Indian market

Volvo looking to expand its global presence

By: Sarwar Alam

Swedish carmaker Volvo said on Thursday (18) it will start assembling cars in India this year in a move into a fast-expanding market where it has had only a small presence until now. Volvo Cars said in a statement that it was teaming up with truck manufacturer Volvo Group to build cars at the latter’s existing plant in Hoskote near Bangalore. While sharing the Volvo name, Volvo Cars has not actually been part of the Volvo Group since 1999, when it was initially taken over by US giant Ford and subsequently acquired by China’s Geely Group in 2010. Financial details of the…

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