Swedish automaker Cars’ Indian subsidiary on Monday launched its EX90 electric SUV at ₹1.26 crore, undercutting the Kia EV9 GT-Line, priced at ₹1.30 crore, by ₹4 lakh and the Mercedes-Benz EQS SUV 580, priced at ₹1.49 crore, by ₹23 lakh, as it seeks to regain ground in India’s increasingly competitive luxury electric-vehicle market.
Volvo’s share of luxury EV registrations fell to 7 per cent in FY26 from 12 per cent a year earlier, even as the segment expanded 61 per cent to 5,404 vehicles, according to Vahan data. BMW alone registered 3,537 electric vehicles, commanding nearly two-thirds of the market.
The EX90 gives Volvo a new flagship, but deliveries beginning only in January 2027 will delay its sales contribution. Customer drives start in November, allowing the company to build festive-season bookings.
Price and performance
The six-seat EX90 comes with a 106 kWh battery and 456 PS of power, compared with the Kia EV9 GT-Line’s 99.8 kWh battery and 384 PS. Volvo claims a 10–80 per cent DC charging time of 22 minutes, against the Kia’s 24 minutes.
The Kia is marginally quicker from 0–100 km/h, taking 5.3 seconds against Volvo’s 5.5 seconds. Both use 800-volt electrical architectures.
The Mercedes-Benz EQS SUV 580 offers a 122 kWh battery, 544 PS, seven seats and a 4.7-second acceleration time. Its claimed 10–80 per cent charging time is longer at 31 minutes.
The Mercedes has an ARAI-certified range of 809 km, while Volvo claims 625 km under the WLTP cycle, making direct comparisons inappropriate.
Volvo’s introductory package includes an 11 kW home charger and three years of servicing for bookings made by December 31. Dealers are also offering a 65 per cent buyback value after three years.
Market-share challenge
Seven luxury carmakers — BMW, Mercedes-Benz, JLR, Tesla, Volvo, Porsche and Lamborghini — registered a combined 4,534 vehicles in September 2026, according to Vahan data. BMW led with 1,955 units, followed by Mercedes-Benz at 1,527 and JLR at 573. Volvo recorded just 126 registrations, highlighting its struggle to regain ground.
Electric vehicles accounted for 975 registrations across the broader luxury segment during September. BMW led with 502, followed by Tesla with 291 and Mercedes-Benz with 125. Together, the three accounted for approximately 94 per cent of luxury EV registrations.
Volvo registered 45 electric vehicles, giving it a 4.6 per cent share of the segment.
Its broader India business has also faced pressure. Overall registrations declined 2 per cent to 1,647 in FY26. They recovered 4 per cent to 874 during January–June 2026, with the nine-month tally reaching 1,262.
Volvo also teased the ES90 electric sedan, signalling its return to the luxury-sedan segment after discontinuing the S90 in June 2025.
Cost pressures
Rising shipping and transportation costs present another challenge. Industry sources indicate that unpredictable shipping conditions have increased logistics expenses, raising the possibility of further price revisions.
Volvo had already increased prices by up to ₹1 lakh in May.
Managing Director Jyoti Malhotra has identified brand positioning, customer experience, dealership expansion and charging infrastructure as priorities for rebuilding sustainable sales growth.
The EX90 strengthens Volvo’s electric portfolio, but translating competitive pricing into meaningful market-share gains will depend on customer acceptance, delivery volumes and the company’s ability to contain costs.