Volvo Launches EX90 Electric SUV in India at ₹1.26 Crore to Reclaim Market Share

Swedish automaker Volvo Cars’ Indian subsidiary has launched its new flagship electric SUV, the EX90, priced at ₹1.26 crore. The launch comes as the company seeks to regain ground in India’s expanding luxury electric-vehicle market, where its market share has faced downward pressure.

According to Vahan data, Volvo’s share of luxury EV registrations fell to 7 percent in FY26, down from 12 percent a year earlier. During the same period, the overall segment expanded by 61 percent to 5,404 vehicles. BMW has emerged as the dominant player in the space, registering 3,537 electric vehicles and commanding nearly two-thirds of the market.

With a price tag of ₹1.26 crore, the EX90 undercuts the Kia EV9 GT-Line, which is priced at ₹1.30 crore, by ₹4 lakh. It is also priced ₹23 lakh lower than the Mercedes-Benz EQS SUV 580, which retails at ₹1.49 crore. However, delivery timelines could impact immediate sales momentum, as deliveries are scheduled to begin only in January 2027. Customer drives are set to start in November, providing the company an opportunity to build festive-season bookings.

The six-seat EX90 is equipped with a 106 kWh battery and delivers 456 PS of power, utilizing an 800-volt electrical architecture. Volvo claims a 10 to 80 percent DC charging time of 22 minutes. In comparison, the Kia EV9 GT-Line features a 99.8 kWh battery, 384 PS of power, and takes 24 minutes for a similar charge, while being marginally quicker in 0-100 km/h acceleration at 5.3 seconds compared to the Volvo's 5.5 seconds. Meanwhile, the Mercedes-Benz EQS SUV 580 offers a larger 122 kWh battery, 544 PS, seven seats, and an ARAI-certified range of 809 km, though its claimed 10-80 percent charging time is longer at 31 minutes.

To support introductory sales, Volvo is offering a package that includes an 11 kW home charger and three years of servicing for bookings made by December 31. Additionally, dealers are providing a 65 percent buyback value after three years.

Broader registration data highlights the competitive challenges ahead. Across seven luxury carmakers, combined registrations reached 4,534 vehicles in September 2026, with BMW leading at 1,955 units, followed by Mercedes-Benz at 1,527 and JLR at 573. Volvo recorded 126 registrations in the same month, including 45 electric vehicles, which translated to a 4.6 percent share of the luxury EV segment. The broader luxury EV market in September was heavily concentrated, with BMW, Tesla, and Mercedes-Benz accounting for approximately 94 percent of registrations.

Volvo’s wider business in India has also experienced fluctuation. Overall registrations declined by 2 percent to 1,647 in FY26, before recovering by 4 percent to 874 during the January–June 2026 period, bringing the nine-month tally to 1,262. Alongside the EX90, the company has teased the ES90 electric sedan, signaling a potential return to the luxury-sedan segment following the discontinuation of the S90 in June 2025.

External cost pressures persist for the automaker. Unpredictable shipping conditions have driven up logistics expenses, raising the possibility of further price adjustments following a previous price hike of up to ₹1 lakh in May. Managing Director Jyoti Malhotra has outlined key focus areas for the brand, including brand positioning, customer experience, dealership expansion, and charging infrastructure, as the company works toward sustainable sales growth.

"Entering a highly competitive market with aggressive pricing is a strategic move, but long-term success in the luxury EV segment depends heavily on operational execution and timely delivery. For established brands facing margin pressures and rising logistics costs, balancing competitive introductory offers with supply chain reliability will be crucial to regaining lost market share." — Dr. Shishir Gupta, Founder & CEO, StartupLanes