Volvo Cars unveiled the Volvo EX30 fully-electric small SUV on Wednesday, with two battery options and a starting price of roughly 36,000 euros ($38,500), in a bid to compete with Tesla in making electric vehicles (EVs) more accessible. The Volvo EX30 is the company’s smallest SUV to date, following the launch of the larger electric EX90 in November.
The beginning price is more than that of Tesla’s Model 3, the cheapest car in the US group. Tesla has reduced prices numerous times this year in an attempt to boost demand as competition among EV manufacturers heats up. Volvo, which plans to have half of its sales volumes be EVs by mid-decade and only sell EVs by 2030, stated that the Volvo EX30 is one of its most important commercial possibilities in the next years.
The Volvo EX30 will be manufactured in China at the Zhangjiakou plant, which is operated by Geely, Volvo’s principal shareholder, and will begin production later in 2023.
The new model will be available for order in some areas, including Europe, beginning on Wednesday, with inaugural buyers able to expect delivery in early 2024.
As a result, the car will be delivered earlier than its larger EV SUV, the EX90, which was introduced in November of last year. Due to production delays, the EX90 will begin production in the first half of 2024. The cheaper and less resource-intensive 51 KWh LFP batteries offer a range of up to 344 km and are targeted at drivers who mostly travel within cities or over shorter distances, helping to keep the car’s entry price low, according to Volvo. More efficient 69 KWh NMC batteries will provide Volvo EX30 owners with a range extension of up to 480 km.
The new model will cost roughly 52,000 euros in its most costly configuration. According to Volvo, the total cost of ownership for the Volvo EX30 was cheaper than that of any of its completely electric cars and most competitors in the electric, small SUV class, based on preliminary data from two regions.
Currently, electric SUVs from European premium brands such as BMW, Mercedes, and Audi cost at least 56,000 euros. The starting price of the Volvo EX30 is comparable to that of the EV version of Jeep’s Avenger compact SUV.
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