Volvo is teasing a new affordable EV to replace the discontinued EX30

Volvo’s compact, quirky EX30 had a lot of problems when it was first released. The price tag took away its potential, making it expensive to own, and the battery memory made it dangerous to park indoors. But its end did not signal an end to Volvo’s efforts to sell low-cost electric models. In fact, the Swedish automaker is already in the process of offering new products to the US market.

News of the low-cost Volvo EV for the US came at a media event this week related to the US launch of the new EX60. Luis Rezende, president of Volvo Cars America, said that the decision to abandon the EX30 was not about taxes but about profit, saying that the company plans to introduce a new EV in 2027 that will also have an equal share in the lineup – although not at the same price as the EX30.

“Very similar, I would say,” Rezende said of the EV’s secret price and EX30. “It’s going to be an EV that offers a lot of great features in a big space, but it’s also going to be fun to drive, I promise.”

Other than that, information was limited. Volvo officials later spoke of a desire to build a larger, family-friendly SUV at its plant in Charleston, South Carolina — though the vehicle will probably use a “more fuel-efficient” model instead of being purely electric from the get-go.

The EX60, which will begin shipping to customers in the US this summer, is now Volvo’s only electric car in North America. The compact SUV, which is built on a different design than the EX30, will start at $59,795 for the entry-level P6 Plus model, rising to $68,745 for the more powerful P10 AWD Ultra model.

Volvo is the latest automaker to try, and stumble, in trying to make an affordable EV for the US market that is both important and profitable for the company. So far, few have pulled it off, because it requires a certain level, vertical integration, and product innovation that only Chinese companies seem to have nailed. Of course, Volvo is owned by China’s Geely, but the company’s desire to sell EVs in North America will require another approach.

The purchase was one of the best selling points of the EX30. When it was was first announced in 2023, Volvo says prices will start at $34,950, positioning it as the small, affordable EV that many people are clamoring for. But after the election of Donald Trump, Volvo was forced to delay the EX30’s arrival in the US until 2025, he says new tariffs against cars built in China. After that, the model that was sold in the US started at $ 44,900, about $ 10,000 more than the original price.

Then, in February, another bad news as Volvo pulled the EX30 because the car’s batteries were at risk of overheating or catching fire. The following month, Volvo released a plug for the entire car program.