by Volvo prepares a replacement for the compact EX30
Only a few months have passed since Volvo announced the discontinuation of sales of its compact electric crossover EX30 in the US after the 2026 model year. Now the Swedish automaker has confirmed that it is already working on a new model to replace it.
The existence of this new model was revealed by Volvo Cars America President Luis Rezende during a conversation with journalists at the unveiling of the larger EX60 crossover. Although Rezende did not provide many details, he noted that the price of the new car will be close to that of the EX30. Initially, the EX30 was set to start in the US at $34,950, but due to tariffs, Volvo was forced to raise the price by approximately $10,000.
“Very similar, I would say,” Rezende commented on the price of the new model compared to the EX30. “It will be an electric car that offers a lot of good in a larger space, but it will also be fun to drive, I can promise you.”
Technical details and platform
Rezende did not provide specific technical specifications, but according to The Verge, he may be referring to the next generation EX40, which is known to be under development and will be based on the SPA3 platform along with the EX60. His statement that the new model will offer “more space” than the EX30 suggests an increase in size, as with the new EX40.
Questions of price and affordability
Price will be a key factor. The current EX40 starts at approximately $56,000, making it only slightly cheaper than the all-new EX60. Volvo will need to significantly cut costs to make the future EX40 priced at around the level of the EX30. An alternative could be a base, simplified version, like the Tesla Model 3 and Model Y, or it could be a completely new model that we do not yet know about.
Rezende reported that the new model will appear on the US market as early as next year, so its development has likely been ongoing for quite some time.
The new Volvo electric car is expected to be a response to market challenges where tariffs have significantly impacted pricing. The company aims to maintain the affordability of its compact models while offering more space and driving enjoyment. This signals a strategic shift towards more versatile solutions that can satisfy a broader range of buyers without sacrificing the key advantages of electric vehicles. Given the launch timeline, an official presentation can be expected in the near future to prepare the market for the arrival of the new model.
