Your #1 source for auto industry news and content

Volvo unveils EX30 electric SUV with affordable price tag

By 2030, the carmaker expects to sell solely EVs and to be carbon-neutral a decade later.

Swedish automaker, Volvo, is making a smaller, less expensive all-electric SUV to help convince budget-minded buyers to go electric. The company revealed the EX30 all-electric SUV that is significantly smaller than its seven-seater cousin, the EX90– due to start rolling out of the factories in 2024.

By 2030, the carmaker expects to sell solely EVs and to be carbon-neutral a decade later. Volvo has made substantial progress in converting its fleet to EVs with several plug-ins, including the XC40, C40, and the currently delayed EX90.

As a result, the EX30 will move many vehicles off of lots by starting at $35,000. In addition, it will be outfitted with a lithium battery, making it slightly more affordable than the gasoline-powered XC40 and much more affordable than the electric XC40, which was formerly Volvo’s least expensive electric vehicle.

Volvo hopes that the EX90, which starts at over $109,000 in Europe and as low as $80,000 in the U.S., will compete with vehicles from Tesla, BMW, Mercedes-Benz, and Audi for wealthy buyers. Meanwhile, the smaller EX30 is aimed at more cost-conscious consumers, like college graduates shopping for their first new car, or households needing a second car.

Volvo’s EX30 is the most recent illustration of how automakers are introducing less expensive electric SUVs to meet the rising demand for these cars and give buyers a more inexpensive entry point into the world of electric automobiles.

As the cost of other plug-in models rises, General Motors has already stated that it intends to deliver an electric Chevrolet SUV for roughly $30,000.

Stay up to date on exclusive content from CBT News by following us on Facebook, Twitter, Instagram and LinkedIn.

Don’t miss out! Subscribe to our free newsletter to receive all the latest news, insight and trends impacting the automotive industry.

CBT News is part of the JBF Business Media family.
Jaelyn Campbell
Jaelyn Campbell
Jaelyn Campbell is a staff writer/reporter for CBT News. She is a recent honors cum laude graduate with a BFA in Mass Media from Valdosta State University. Jaelyn is an enthusiastic creator with more than four years of experience in corporate communications, editing, broadcasting, and writing. Her articles in The Spectator, her hometown newspaper, changed how people perceive virtual reality. She connects her readers to the facts while providing them a voice to understand the challenges of being an entrepreneur in the digital world.

Related Articles

Latest Articles

From our Publishing Partners