Volvo is reportedly expected to decide in 2015 whether to start assembly of vehicles in India – or not.

An industry source said: “An industrial team based out of Sweden looks out for opportunities across the world. It is also looking at the possibility of having local assembly in India.”

In India, the company aims for a sales growth of 70% year over year during 2015 driven by product launches and sales network expansion. In 2014, it sold 1,200 units, with plans to sell 2,000 units in 2015.

Product launches scheduled for the country for 2015 include the petrol variant of the V40 Cross Country, XC90 SUV, S60T6 sedan and V40 hatchback, The Economic Times reported citing PTI. Additionally, it intends to have around 22 dealerships in India by the end of 2015.

By 2020, Volvo aims to hold about 10% share of the Indian luxury segment and sell 10,000 units in the country.

SPAIN: Effectively ‘no comment’ on Volvo India assembly plans