Volvo releases affordable all-electric SUV
Priced at around €36,000,?the EX30?is designed as an option for customers looking for a more affordable EV compared to Tesla’s market-leading Model 3, which starts at over €40,000. Volvo Cars’ CEO, Jim Rowan, is confident in the strong demand for EVs and states that the company doesn’t feel the need to follow Tesla’s recent price reductions.
Volvo has ambitious goals in the EV space. They aim to make emobility account for 50% of sales volumes by the mid-2020s and transition to exclusively selling EVs by 2030.
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The EX30, Volvo’s smallest SUV yet, is now available for ordering in select European markets. It gives customers a choice between two battery types. The cost-effective lithium iron phosphate (LFP) battery covers city driving and shorter distances. Meanwhile, the nickel manganese cobalt (NMC) battery, offers an extended range of up to 480 kilometres (198 miles) for those seeking more mileage.
Volvo claims that initial data from two markets show that the EX30 has a lower total cost of ownership compared to any other fully-electric car in its lineup.
By offering a premium fully-electric SUV at a competitive price, Volvo aims to attract EV adopters who prioritize quality and affordability. The EX30’s starting price is comparable to the electric version of Jeep’s Avenger small SUV. Other European premium brands’ electric SUVs start at a minimum of €56,000.
With the EX30, Volvo takes a significant step forward in its commitment to emobility.?As EV adoption continues to grow, Volvo’s entry into the affordable segment with a high-quality offering positions the company well for success. Time will tell whether the Volvo EX30 is as attractive in practice as it is on paper.