Volvo Aims to Destroy the Competition With Affordable $35k EV – the EX30 Compact SUV

Volvo Cars has announced the smallest sports utility vehicle (SUV), the EX30 powered by a fully electric drivetrain. The compact SUV will take its position below the XC40 and C40 Recharge and is expected to hit the North American market in 2024 as a 2025 model.

Volvo Could Go All-Electric By 2030

The new EX30, which is expected to retail at $35,000, comes only months after the larger EX90, a three-row SUV announced in November. Volvo’s decision to go against the trend of big SUVs shows the company’s commitment to going fully electric by 2030.

This means that Volvo must come up with cars across all segments, including the compact SUV. Nevertheless, the EX30 would pack a decent battery, offered in two options that achieve a decent amount of range.

Volvo is embracing the “small” theme, calling the announcement an “unboxing” event. A previous teaser image showed a huge hand descending from the sky to grab the EX30, said a report by The Verge.

Volvo announced plans to go all-electric by 2030 in 2020 for sustainability following the unveiling of its first fully electric vehicle, the XC40.

In addition, the Financial Times reported in March 2021 that the Geely-owned Swedish group had committed to gradually facing out its dealership contracts as it embraces online sales geared toward building direct relationships with customers around the globe.

Volvo EX30 – An Affordable Compact EV SUV

Volvo Cars’ unboxing event revealed a compact SUV that is not only beautiful to look at but equipped with a simple yet elegant interior, featuring sustainable materials. Unlike general expectations before the unveiling, the EX30’s cabin utilizes the available space to look much bigger.

Despite having a decent range, some people might find it less practical, considering its two battery options eke out “only 275 miles for the single-motor variant and 265 in the dual motor affair,” TechCrunch said in a similar report.

According to The Verge, both variants will have a 69kWh battery with 64kWh of available power. That battery can take up to 153kW of DC fast charging for a 26.5-minute charge time from zero to 80 percent.

The EX30’s selling point would be its retail price. At $35,000, it is Volvo’s fourth electric vehicle and by far the most affordable.

No one has been able to put out a competitive EV at such a price so far and if the EX30 is good enough and isn’t beaten to market, it could be extremely successful.

Regardless of being the cheapest by the Swedish automaker, the EX30 has Volvo’s standard safety equipment and two powerful powertrain options.

A single 12.3-inch touchscreen is in the center console. The driver has no separate instrument cluster. Instead, this large, center-mounted screen is the only screen in the vehicle. Above the screen, a sound bar runs across the dash.

Moreover, the EX30 features the legendary safety technology from Volvo, with a driver alert system that ensures that drivers stay awake all the time.

The collision detection system helps to reduce potential accidents on the road not to mention a cyclist alert system which ensures the area around the car is clear before an occupant opens the door.

The EX30 also comes with a Pilot Assist system that can change lanes as well as overtake vehicles on the road that are moving at a slower speed.

According to TechCrunch, the driver only needs to push the Pilot Assist button and hold the wheel to allow the car to ramp up the speed to complete the action. With the same system, drivers can relax as the car navigates itself into a parallel parking spot.

As for the powertrain, the EX30’s extended-range motor positioned in the rear axle, delivers an impressive 268 horsepower and 253 pound-feet of torque.

The dual-motor variant takes it a step further by incorporating an additional 154-horsepower motor in the front axle, resulting in a combined power of 422 horsepower and 400 pound-feet of torque.

In terms of acceleration, the single-motor model achieves a zero to 60mph speed in just 5.1 seconds, while the all-wheel-drive version accomplishes the same feat in an astonishing 3.4 seconds, making it Volvo’s fastest accelerating vehicle to date.

“We like to say the EX30 is small yet mighty because it delivers on everything, you’d want from a Volvo but in a smaller package,” Jim Rowan, Volvo’s CEO said in a written statement.

How Will The Volvo EX30 Fair in The Market Amid Competition?

The race to dominate the EV market is only getting fierce with other manufacturers like Tesla, Lucid Motors, and Volkswagen doubling down on their presence in the market. Volvo’s EX30 packs incredible features at an affordable price, which could give other EV automakers a run for their money.

New Volvo EX30 pic.twitter.com/qkLXtwqQ2e

— (@OtsileJK) June 7, 2023

Nevertheless, it is likely to face stiff competition from Tesla’s Model Y, the Kia EV6, the Ford Mustang Mach-E, and the Ioniq5. Several other automakers are expected to debut new models of compact SUVs, including the Chevy Equinox, the Polestar 3, Blazer EVs, and Honda Prologue.

These cars are all much more expensive than the EX30 right now but some of them may become cheaper over time.

To ensure it has a good footing in the market, Volvo is dedicated to selling over 600,000 EVs by 2025. The company will also be building a battery manufacturing complex in Europe, expected by 2026.

Although the EX30 will only manage 265 and 275 miles of range depending on the variant chosen, Volvo is targeting new batteries that can reach up to 625 miles by 2025.

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