Volvo plans 2027 launch of $40,000-plus EX50 electric SUV

Volvo is reportedly developing a new, more affordable electric SUV called the EX50 to replace its current entry-level models in the United States, according to a new report. The compact crossover is expected to arrive in 2027 with a starting price in the high $40,000s, positioning it as a more competitive offering in a segment dominated by the Tesla Model Y.

The EX50 is slated to be built on Volvo's new SPA3 platform, which also underpins the larger EX60. This architecture is designed to lower costs and improve scalability, and it brings benefits like an 800-volt electrical system for faster charging, improved interior space, and greater efficiency. Despite its lower targeted price point, the EX50 is described in reports as being both longer and taller than the current EX40, which starts at $56,545. This size would place it closer to mainstream electric crossovers like the Hyundai Ioniq 5 and the Ford Mustang Mach-E.

Production is planned for Volvo's new factory in Kosice, Slovakia, with manufacturing expected to begin in the fall of 2027. Initial annual production volume for the model is estimated by analysts to be around 90,000 units globally, with the automaker reportedly...