Volvo Aims Big On U.S. Market With Launch of Two New Electric SUVs

Volvo Aims To Reverse Declining EV Sales in America With Its EX90 And EX30 EVs

Michael Phoon

August 22, 2024 | Updated 09:24, August 22, 2024

2 min read

Volvo is set to make a push into the United States (U.S.) electric vehicle (EV) market with the launch of two new electric SUVs, hoping that these models will help reverse its recent slide in EV sales.

Volvo EX90 at South Carolina plant in U.S. (Image: Volvo)

The flagship three-row EX90, Volvo’s first EV designed and developed specifically for the U.S. market, is scheduled toarrive in dealerships later this year. It will be followed by the smaller, more affordable EX30 in the second half of 2025.

Michael Cottone, Volvo Cars’ U.S. boss, expressed optimism about the EX90’s potential impact at a media event in Southern California as cited by Automotive News stating, “This car was designed for the U.S. market and then built in the U.S. market.” Also, the EX90 is expected to build on the success of its gasoline-powered counterpart, the XC90, which accounted for nearly one-third of Volvo’s U.S. sales in 2023.

However, the EX90’s launch comes at a challenging time for the EV market. The EX90’s production was delayed due to software integration challenges, and recent U.S. tariff increases on Chinese-made batteries forced Volvo to raise its starting price to $81,290.

Despite these hurdles, Volvo plans to target EV strongholds including California, the Northwest, and the Mid-Atlantic region with the EX90, aiming to align supply with demand to maintain pricing power and profitability.

Volvo EX30 (Image: Volvo)

At the other end of the lineup, Volvo will introduce the EX30 as one of the most affordable EVs in the U.S. market, starting at $34,950. This compact SUV is expected to appeal to a different subset of buyers and expand Volvo’s reach.

As Volvo readies itself to aim for the success of its X90 and EX30 in the U.S. market, the company’s goal to turn its situation around while reaching new heights will see its strategy be tested on America’s automotive landscape.

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