Volvo plans to launch a more affordable electric vehicle in 2027 — Electrek
Volvo plans to launch a more affordable electric vehicle on the SPA3 platform in 2027. The new model will become the Swedish automaker’s second vehicle on this architecture after the EX60 and will target Europe’s large lower-priced electric vehicle segment, Electrek reports.
Second model on the SPA3 platform
The company announced its plans during the presentation of its financial results for the third quarter of 2026. Volvo intends to unveil three new vehicles in 2027: one for Europe and two for China. At the same time, the company described the new SPA3 electric vehicle as a global BEV model.
The first deliveries of the vehicle to customers are scheduled for after the summer of 2027. Volvo did not disclose technical specifications or the model’s name. Electrek suggests that the new vehicle could become the successor to the current EX40. The SPA3 platform is designed for vehicles of different classes, from sedans and compact SUVs to the three-row EX90.
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Possible EX50 model
According to the publication, the new electric crossover may go on sale under the EX50 name. In July, Volvo filed an application for the EX50 trademark with the European Union Intellectual Property Office, confirming the model’s electric nature. The vehicle is expected to be taller and longer than the EX40.
Volvo Cars America President Luis Rezende previously told journalists that the company is preparing to launch a new entry-level electric vehicle in the United States in 2027, which is expected to replace the EX30 in that role. According to Automotive News, the starting price of the new electric crossover could be below $50,000. Volvo had previously planned to sell the single-motor EX30 in the United States starting at $34,950, but later abandoned this model on the U.S. market.
By the end of 2030, Volvo plans to launch 13 new vehicles for the U.S., European and Chinese markets. The company is also due to begin XC60 production in Charleston, United States, in the first quarter of 2027.
