Volvo Rolls Out All-Electric SUV Aimed at First-Time Buyers
1 year, 6 months ago

Volvo Rolls Out All-Electric SUV Aimed at First-Time Buyers

Live Mint  

Volvo is making a big bet that a smaller, cheaper all-electric SUV can help convince budget-minded buyers to go electric. Volvo Cars, which is majority owned by China’s Zhejiang Geely Holding Group, unveiled the EX30 all-electric SUV in Milan on Wednesday. In the U.S., the EX30 starts at around $35,000 when equipped with a lithium ferrophosphate battery, making the car a tad cheaper than the XC40 gasoline version and significantly less expensive than the electric XC40, previously Volvo’s cheapest electric car. Volvo’s EX30 is the latest example of how carmakers are pushing out less expensive electric SUVs to tap the burgeoning demand for these vehicles and give consumers a more affordable way to wade into electric cars. “This is huge for people who don’t have kids yet, especially for people who are not yet convinced that electric cars will work for them,” said Björn Annwall, Volvo’s chief commercial officer.

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