Electric, Digital, Scalable: Volvo CE’s Vision for India’s Construction Boom
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Dimitrov Krishnan, Managing Director, Volvo CE India, on market expansion, electric equipment adoption, digitalisation, emission norms, and India-focused innovation
What are your key strategic priorities for increasing market share across segments over the next two years?
2025 has been a very strong year for us. When we launched the EC210E in June 2024, which was designed specifically for India, our objective was clear—to grow volumes and gain market share. As we close 2025, the results are very encouraging.
While the overall market grew by around 10–15%, our growth was close to 35%. This validates our India-centric product strategy and the effort put in by our teams. We will continue to accelerate this approach.
At EXCON 2025, we launched the EC215, the next variant in the 210 class, to address slightly different customer requirements. Going forward, our excavators, loaders, and other equipment will increasingly feature deeper localisation and designs tailored to Indian operating conditions.
Looking ahead, we expect 2026 to be a growth year. Despite geopolitical and economic challenges in 2025, infrastructure is expected to regain focus, supported by policy measures and strong industry readiness.
You showcased several electric and sustainable machines at EXCON 2025. What is the realistic timeline for large-scale electrification in India?
Volvo introduced electric construction equipment in India as early as January 2022. Since then, the industry has caught up significantly. At EXCON 2025, we have seen multiple electric launches across manufacturers, which confirms that the technology direction is right.
We showcased the L120 Electric wheel loader, a 5-tonne machine suitable for material-handling applications. It has already received strong customer interest. Electrification in wheel loaders is progressing well, with adoption increasing from about 10% last year to nearly 15–18% this year.
Electric solutions are also gaining traction in excavators and hauling equipment. Over time, mining and grid-connected applications will follow. The transition is gradual, but the momentum is clearly building.
Would you describe electric equipment as the star attraction at EXCON 2025 for Volvo CE, or is there another flagship product this year?
For us, the star product this year is the EC215. It builds on the success of the EC210E, which stood for more performance, savings, uptime, and value. With the EC215, we have added improved stability.
This completes our offering in the 210 excavator class, which represents nearly 75% of excavator demand in India. With four options in this segment, customers can select machines that best match their operating needs.
We have also pre-launched the EC650 at EXCON 2025, with deliveries planned for the second quarter of next year.
Digital tools and telematics adoption is rising, but challenges remain. How is Volvo CE addressing this?
Volvo has been a pioneer in telematics in India. We introduced our first solution, CareTrack, in 2010. While adoption has been steady, the challenge was always about customers fully utilising the data generated.
That is now changing with advancements in data analytics. Telematics is increasingly being used for fleet management, preventive maintenance, and productivity improvement. Our newer platforms offer deeper insights and help customers maximise machine uptime. Today, telematics is about smarter operational decisions, not just tracking machines.
Regional demand patterns are changing, with some slowdown in the South. How are you responding?
India’s regional dynamics are evolving. While southern states have seen some moderation due to political and funding factors, infrastructure development is accelerating in states such as Uttar Pradesh, West Bengal, and parts of eastern India. Overall, regional disparities are reducing.
One concern is the increasing emphasis on welfare schemes at the state level. While welfare is essential, maintaining a balance with productivity and infrastructure development is critical for long-term growth.
Stricter emission norms are increasing equipment costs. How do you balance compliance and affordability?
Stage V emission norms are essential for the environment and society. This transition should not be viewed purely through a cost lens. Clean air and sustainability are investments in our future.
Within the Indian Construction Equipment Manufacturers Association (ICEMA), there is unanimous agreement on moving towards cleaner emissions. At Volvo, we believe in building the world we want to live in, without compromising future generations.
What role will the expanded Bengaluru technology centre play in Volvo CE’s India strategy?
The expansion of our Bengaluru technology centre reflects the need for stronger regional value chains in a more regionalised world. The centre will enhance our ability to develop products specifically for Indian conditions, while also supporting global markets.
We are adding capabilities across excavators, loaders, and other segments such as compaction and road equipment. This expansion will benefit Volvo and contribute meaningfully to India’s industrial ecosystem.
