Volvo to Launch Lower-Priced EV in 2027 on SPA3 Platform
The new model is expected to start under $50,000 in the US and replace the discontinued EX30 as the entry-level electric SUV.
Volvo Cars plans to introduce a new, lower-priced electric vehicle in 2027, marking the second model built on its SPA3 architecture. The announcement was part of the company's third-quarter earnings report, which outlined a broader product offensive through 2030.
What Happened
During its Q3 earnings call, Volvo stated it will launch 13 new cars by the end of 2030, with three new vehicles scheduled for reveal in 2027. One of these is a "global BEV car" targeting the lower-priced market segment in Europe, positioned as the successor to the EX40. Following the EX60, which Volvo reported has secured over 50,000 orders in Europe, this new SPA3-based vehicle is expected to begin customer deliveries after next summer. While Volvo did not release specific technical details, the company confirmed the platform supports various body styles, including compact SUVs.
Why It Matters
For US buyers, the development addresses a gap left by Volvo’s discontinuation of the Single Motor EX30, which was initially planned to start at $34,950 before being removed from the lineup. Luis Rezende, president of Volvo Cars America, indicated that the new entry-level EV, expected to be named the EX50, will have pricing "very similar" to the previous EX30 target. An Automotive News report suggests the new electric crossover will launch in the US by the end of 2027 with a starting price under $50,000. This move signals Volvo’s strategy to retain a foothold in the mass-market EV segment despite earlier pricing challenges.
The Bottom Line
Volvo is proceeding with a 2027 launch of a new, more affordable electric SUV based on the SPA3 platform. While the exact US pricing remains unofficial, reports indicate a sub-$50,000 starting point for the model, which is expected to replace the EX30 as the brand's entry-level electric option.
