Volvo to launch new “lower priced” all-electric SUV by summer 2027
News
New EX50 rumoured to be on the way bringing EX60-level tech in a more compact package
GE
George East
26 October 2026 · 2 min read
Volvo has confirmed that it will introduce a new “lower priced” all-electric SUV in Europe by next summer.
During its Q3 financial results call, Volvo suggested that this new model will be built on Gothenburg’s new electric-only SPA3 underpinnings, which were introduced with the all-electric EX60 earlier this year.
This upcoming “global BEV car” will sit below the EX60 in its electric-only hierarchy and above the EX30, prompting suggestions that the CMA-based EX40 could be discontinued.
Yet given Volvo heavily revised the EX40 earlier this year, it’s unlikely that it will be immediately killed off in favour of the new car, and has prompted suggestions that the upcoming SUV will be called the EX50.
Volvo’s 800V SPA3 platform has been designed with packaging flexibility in mind to keep down costs. Its battery cells can be rearranged within the floorpan to accommodate different body styles and sizes from smallest 4.2-metre EX30 to the Swedish firm’s 5.0m EX90 flagship SUV.
SPA3 also introduced several technical firsts for Volvo, including a BYD-style chassis-integrated battery, megacasting production methods to reduce to manufacturing of individual parts, and new-generation drivetrain components that improve efficiency and vehicle dynamics.
In terms of range, SPA3’s 800V architecture can offer up to 503 miles of range, along with charging speeds of up to 400V that allow for a 211-mile top-up charge in just 10 minutes. The EX60 is offered in three battery choices: 85kWh, 95kwh, and 117kWh.
This makes it likely that the yet-to-be-named EV will adopt a similar setup, and be available with the ‘P’-designated powertrains Volvo fits to its electric-only models.
The new car will be one of 13 new Volvos to launch globally by 2030 as part of the company’s new regionalised product development strategy. In 2027, it will also launch another two “China-specific models”.
Volvo hopes that the introduction of a second, high-volume SPA3-based model will help it recover the development and production costs involved with the new platform and achieve an 8% profit margin.