Volvo is launching a ‘lower-priced’ EV in 2027 based on its SPA3 platform — SkimNews
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- Volvo will launch a new lower-priced electric SUV in 2027 based on its SPA3 platform, targeting a large, lower-priced segment in Europe.
- Volvo plans to introduce 13 new vehicles by 2030, with three revealed in 2027 — one for Europe and two for China.
- Volvo confirmed the new model will be a global BEV, with first customer deliveries starting after summer 2027, likely replacing the EX40.
- Luis Rezende, president of Volvo Cars America, said the 2027 EV will succeed the EX30 as the brand’s entry-level electric car in the US, with prices 'very similar' to the discontinued $34,950 Single Motor EX30.
- Volvo filed a trademark for the EX50 with the European Union Intellectual Property Office in July, indicating the new model may adopt that name.
- Volvo expects the new entry-level model to be a taller, longer electric SUV than the EX40, starting under $50,000 according to Automotive News.
Why it matters: Volvo’s move to launch a sub-$50K global SUV by 2027 shifts its strategy toward mass-market affordability, directly competing in Europe’s high-volume EV segment while maintaining premium branding. With over 50,000 EX60 orders already, the SPA3 platform’s scalability enables faster rollout, giving Volvo a shot at volume growth amid slowing EV adoption trends.
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