After a slide presentation highlighting the company’s electrification advancement revealed six EV models expected to join its lineup, Volvo is constructing its first electric minivan.
The slide showcased a small SUV with little-known specifics alongside the minivan and a premium “EX90 Excellence” model. The “smaller SUV,” as per Volvo CEO Jim Rowan, will be announced on June 15.
The new smaller one [SUV] is a new addition to the range. The age demographic at Volvo is a little older than we’d like. We’d like to get some more younger people into the brand. That will be a really nice price point, I think, for an entry-level. Very safe, decent [driving] range, good size still, smaller than a 40, we’re going to talk to a completely different demographic, for the first time probably. And that younger demographic will probably be the ones that shop online
Jim Rowan, CEO of Volvo stated on confirmation with Wheels
EX30 for younger buyers
The EX30 is expected to play an essential role in the brand expansion, with an affordable price point, bold exterior design, and smaller style to appeal to younger buyers.
Furthermore, he stated that online sales and a diverse range of options would be critical to the new model’s success. The C40 starts at $55,300 MSRP, and the XC40 Recharge starts at $53,550, so we can expect it to be under $50,000 as the brand’s “cheapest” EV.
Rowan is confident that the EX30 will release at a competitive price with a wide range of battery sizes.