Volvo is introducing a cheaper electric vehicle on the SPA3 platform. Deliveries will start after summer 2027.
Volvo confirmed in its third-quarter 2026 results that it will build a second electric vehicle on the SPA3 platform after the EX60. It is expected to be smaller and cheaper, with first deliveries planned for after summer 2027. The Swedish brand has not yet revealed its name, price, or technical specifications.
Three launches in 2027
This is part of a plan to launch 13 new vehicles by the end of 2030, which Volvo calls its biggest product offensive. Each model is designed for a specific market: the U.S., Europe, or China. In 2027, the company will unveil three of them. One will go to Europe and two to China.
Volvo describes the model for Europe as a “global BEV car” targeting a “large, lower-priced market segment.” The EX60 has already received over 50,000 orders in Europe, and Volvo calls it a “huge success.” Thus, the cheaper model has a clear benchmark to follow.
Officially, nothing more is known. The industry suspects it will be the successor to the EX40. The SPA3 platform will support both compact models like the EX30 and three-row EX90 vehicles, so it is likely a SUV, but this remains speculation.
NAME EX50 AND PRICE UNDER $50,000
There is one clue regarding the name. In July, Volvo filed a trademark application for EX50 with EUIPO, and the application only states that the vehicle will be electric. According to Automotive News, it is an electric crossover set to go on sale by the end of 2027 in the U.S. for under $50,000. It is expected to be taller and longer than the current EX40.
We also have words from Luis Rezende, head of Volvo Cars America, for the U.S. market. He told reporters that the new electric vehicle coming in 2027 will replace the EX30 as the entry-level model, with prices that will be “very similar.” The issue is that the EX30 Single Motor was originally priced at $34,950, before Volvo dropped the plan and removed the model from its lineup. “Very similar” to $35,000 and “under $50,000” are two different stories. We’re waiting for the actual figures.
It’s also uncertain whether the car will even make it to the U.S. Volvo is talking about a “global” model while also aiming at the lower-end market in Europe.
Plug-in Hybrids and Charleston
Before cheaper electric cars arrive, Volvo is accelerating with its long-range plug-in hybrids, the XC90 and XC60. First deliveries to Europe are set to begin this year, with the U.S. following shortly after. In the first quarter of 2027, Volvo will start producing the XC60 in Charleston. By the end of 2030, it plans to introduce another entirely new model there with various powertrains.
It’s too early to discuss prices in Poland. Since the EX30 is currently the benchmark for affordable Volvos, the new model will need to fit within that price range.
If the EX50 actually ends up being priced higher than the EX30 and EX40, Volvo will leave a gap at the bottom. Who will fill that space?
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