Volvo, a Geely-owned Swedish carmaker wants to offer solely electric vehicles by 2030. It promises to release one new battery-powered model per year, starting this year to meet that objective. Volvo’s mystery SUV will be an electric subcompact vehicle rumored to named as EX30.

The EX30, according to Rowan, will enter production in China in 2023. It will play a significant role in helping Volvo reach its 2025 goal of selling 1.2 million vehicles annually. Due to manufacturing difficulties in China, Volvo sold 698,693 vehicles in 2021 and it seems to sell slightly less this year.

Volvo EX30 Ready for Sale in 2023

Late in 2023, buyers should be able to purchase the EX30. It will be built on the Sustainable Experience Architecture (SEA) electric vehicle platform developed by Geely, which is also the foundation for the new Smart #1 that was unveiled last spring. That vehicle measures 168 inches/4.27 m in length, 72 inches/1.8 m in width, and 64.4 inches/1.64 m in height.

Another compact electric SUV from the Swedish brand: Volvo C40

The Smart #1 features a single 272 hp (200 kW) motor, a 66 kWh battery, and a WLTP range of 273 miles/440 km. Its starting price of €41,490 may serve as a guide for the pricing of the EX30, which Volvo anticipates to be its best-selling vehicle in a few years.

Volvo Focusing on More Young Customer

The average age of Volvo customers is likely to decrease by 10 years, according to various news sources. However, Rowan worries that it will be too expensive for younger customers. Therefore, Volvo wants to offer it mostly through a subscription for a monthly price. Rowan asserts that using the subscription model makes it easier to attract younger customers.

Electrive claims that Volvo has ruled out battery changing as a strategy to keep pricing affordable for younger customers. This might be due to the battery pack becoming a structural component of the automobile for additional safety.

Volvo will offer a variety of batteries in the EX30, according to Rowan, “so a client may pick the range that best matches their lifestyle as well as their budget.” He went on to say that Gen Z customers “continue to seek top safety equipment, a terrific ride, and excellent quality.”

Technical Specifications: Volvo EX90