Volvo plans new affordable electric vehicle for the US market
Volvo will unveil a new larger, affordable EV for the US next year after canceling the EX30 due to tariffs. It aims for around $35,000 starting price.
Volvo is working on a new affordable electric vehicle for the US market following the cancellation of the EX30. The compact model was intended to be the brand's volume EV in America, but its price increased due to tariffs and regulatory shifts. The EX30 was pulled from the US lineup in March.
Luis Rezende, president of Volvo Cars America, stated that the company will unveil a new vehicle next year with a similar price point. He noted that the model will be larger than the EX30, offer more interior space, and maintain engaging driving dynamics.
Volvo originally aimed for a starting price of around $35,000 for the EX30 in the US. But the initial launch price topped $45,000, and the more affordable single-motor variant later arrived at over $40,000.
Specifics about the new model have not been revealed. It is speculated that this could be the next-generation EX40 built on the SPA3 platform, which already underpins the new EX60. The architecture supports various segments and enables shared batteries, software, and electrical systems.
For Volvo, this model could serve as a key urban electric vehicle, stepping in as the brand's entry-level EV in the United States.