As per media reports, Volvo has no intention of competing in the growing market of low-cost EVs in China. The brand’s entry-level electric vehicle, the EX30, is priced at $28,000, and there are no plans to introduce a cheaper model.
Volvo’s CEO, Jim Rowan, stated, “I don’t compete at the low end of the BEV space in China,” describing it as “a tough place to be.”
The automaker is focusing on the premium EV segment for better returns.
In China, Volvo offers the EM90, which it describes as “a Scandinavian living room on wheels” with a range of 758 km. Additionally, its flagship EX90 SUV is priced at $115,000.
Rowan also emphasized that the EX30, priced at $28,000, will continue to be Volvo’s most budget-friendly model, stating, “This is the lowest price point the company will offer.”
To address the new tariffs imposed by both the USA and the EU, Volvo is reportedly accelerating EX30 production at its Ghent facility in Belgium.
