Volvo’s compact, unique EX30 had a lot of problems when it was first released. Tariffs essentially eliminated its affordability, making it more expensive to keep, and battery withdrawals made it dangerous to park indoors. But its closure doesn’t end Volvo’s efforts to sell more affordable electric models. In fact, the Swedish automaker is already working on a new offering for the US market.
News of an affordable Volvo EV for the US came this week during a media roundtable related to the US launch of the new EX60. Volvo Cars America president Luis Rezende said the decision to discontinue the EX30 was not just about tariffs and profitability, noting that the company is preparing to introduce a new EV in 2027 that will play a similar role in the lineup – though not necessarily at the same price point as the EX30.
“Very similar, I would say,” Rezende said about comparing the price of the mystery EV to the EX30. “It’s going to be an EV that will offer a lot of good things in a big space, but it will also be fun to drive, I can promise you that.”
Beyond that, details were scarce. Volvo executives later spoke about a desire to build a large, family-oriented SUV at its factory in Charleston, South Carolina — though that vehicle would use a “multi-fuel” strategy rather than being exclusively electric by launch.
The EX60, which will begin customer deliveries in the US this summer, is Volvo’s only electric offering in North America for now. The compact SUV, which is built on a different architecture from the EX30, will start at $59,795 for the entry-level P6 Plus version, and climb to $68,745 for the more powerful P10 AWD Ultra variant.
Volvo is the latest automaker to try and fail in its efforts to create an affordable EV for the US market that is both desirable and profitable for the company. To date, few have accomplished this, as it requires a certain level of scale, vertical integration, and supply chain mastery that only companies in China have really been able to accomplish. Of course, Volvo is owned by China’s Geely, but the company’s desire to sell EVs in North America will require a different approach to affordability.
Affordability was one of the main selling points of the EX30. When it was first announced in 2023, Volvo said it would be priced starting at $34,950, positioning it as the smaller, less expensive EV that many were yearning for. But following the election of Donald Trump, Volvo was forced to delay the arrival of the EX30 in the US until 2025, citing new levels of tariffs against vehicles manufactured in China. The model that eventually went on sale in the US started at $44,900, about $10,000 more than the original price.
Then, in February, more bad news came when Volvo recalled the EX30 because the vehicles’ batteries were at risk of overheating or catching fire. The following month, Volvo put the entire vehicle program on hold.
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