Volvo is preparing a replacement for the EX30: a new affordable electric crossover for the US
Only a few months have passed since Volvo confirmed the discontinuation of EX30 sales in the US after the 2026 model year, and the Swedish automaker has already announced the development of a replacement for its most affordable electric model.
Volvo Cars America President Louis Rezende shared the news with journalists during the presentation of the larger EX60 in the US. Although he did not provide specific details, he confirmed that the new model will be priced in the same range as the EX30. This is significant because the EX30 was originally slated to start at a price of $34,950, but due to tariffs, Volvo was forced to add approximately $10,000 to the cost.
“Very similar, I would say,” Rezende noted when asked about comparing the price of the new model with the EX30, although it is unclear whether he meant the price before or after tariffs. “It will be an electric vehicle that will offer a lot of good things in more space, but will also be interesting to drive, I can promise you that.”
What is known about the new model?
The last part of the statement is the most intriguing. The Verge reports that Rezende did not name the model, but evidence points to the next generation of the EX40, which is already under development and will be based on the SPA3 platform, shared with the EX60. The promise of “more space” also aligns with what is known about the next EX40, which is expected to increase in size compared to its predecessor.
What will the price be?
Pricing will be a key factor. The current EX40 starts at approximately $56,000, which is barely below the price of the new EX60 ($58,400 excluding delivery). Volvo will have to significantly reduce costs if it wants the future EX40 (or any other name) to be priced roughly on par with the EX30. An alternative could be a basic, simplified model, like the base versions of the Tesla Model 3 and Model Y. Another possibility is an entirely new model that we don’t yet know about.
In any case, Rezende confirmed that the new model will appear in the US next year, so its development has likely been underway for quite some time. Volvo does not intend to leave this niche empty for long, if it can help it.
Thus, the company is reacting quickly to market challenges related to tariffs and seeks to maintain a presence in the affordable electric vehicle segment. The new model is likely to become a more practical and spacious option, which could attract a wider audience looking for an inexpensive yet modern electric crossover. The decision to quickly replace the model demonstrates Volvo’s strategic flexibility and its intention not to lose ground in the American market, despite external economic factors.