Volvo teases a new affordable EV to replace discontinued EX30

Volvo’s compact, quirky EX30 had a lot of problems when it was first released. Tariffs essentially erased its affordability, making it more expensive to own, and a battery recall made it dangerous to park indoors. But its discontinuation didn’t spell the end of Volvo’s efforts to sell more affordable electric models. In fact, the Swedish automaker is already at work on a new offering for the US market.

The news of an affordable Volvo EV for the US came during a media roundtable this week related to the US launch of the new EX60. Luis Rezende, president of Volvo Cars America, said that the decision to discontinue the EX30 was not solely about tariffs and profitability, noting that the company is preparing to introduce a new EV in 2027 that will occupy a similar role in the lineup — though not necessarily at exactly the same price point as the EX30.

“Very similar, I would say,” Rezende said about the mystery EV’s price comparison to the EX30. “It’s going to be an EV that will deliver a lot of good things in a bigger space, but it will be also fun to drive, I can promise you.”

Other than that, details were scarce. Volvo’s executives talked later about the desire to build a larger, family-oriented SUV at its factory in Charleston, South Carolina — though that vehicle will likely use a “multi-fuel” strategy rather than being exclusively electric from launch.

The EX60, which will start customer deliveries in the US this summer, is for now Volvo’s only electric offering in North America. The compact SUV, which is built on a different architecture than the EX30, will start at $59,795 for the entry-level P6 Plus version, and climbs up to $68,745 for the more powerful P10 AWD Ultra variant.

Volvo is the latest automaker to try, and stumble, in its efforts to build an affordable EV for the US market that is both desirable and profitable for the company. To date, few have pulled it off, as it requires a certain level of scale, vertical integration, and mastery of the supply chain that only companies in China seem to have really nailed down. Of course, Volvo is owned by China’s Geely, but the company’s desire to sell EVs in North America will necessitate a different approach to affordability.

Affordability was one of the EX30’s main selling points. When it was first announced in 2023, Volvo said the price would start at $34,950, positioning it as the smaller, less expensive EV that many people were clamoring for. But after the election of Donald Trump, Volvo was forced to delay the EX30’s arrival in the US until 2025, citing newly leveled tariffs against vehicles built in China. Eventually, the model that went on sale in the US started at $44,900, about $10,000 more than the original price.

Then, in February, further bad news as Volvo issued a recall for the EX30 because the vehicles’ batteries were at risk of overheating or catching on fire. The next month, Volvo pulled the plug on the whole vehicle program.