Volvo EX60 EV SUV Output to Hit 40,000 Units This Year as Demand Surpasses Expectations

On April 22 local time, Volvo Cars announced that annual production of its new all-electric SUV, the EX60, is expected to reach up to 40,000 units this year. Production of the model has already begun at Volvo’s Torslanda plant in Sweden, which underwent extensive retooling for this purpose. The EX60 is the first vehicle built on Volvo’s new production platform and features several new technologies. CEO Håkan Samuelsson revealed that market interest in the EX60 has already surpassed the company’s initial order targets, with the main challenge now lying in deliveries rather than sales. To meet demand, Volvo indicated in January that it was considering adding an extra week of production during the summer to boost capacity. Chief Commercial Officer Björn Eriksson noted that the EX60 is priced to be roughly on par with the plug-in hybrid version of the XC60, aligning with consumers’ willingness to pay for plug-in hybrid models. This pricing strategy aims to lower the cost barrier for fully electric vehicles and accelerate market adoption. In recent years, several of Volvo’s all-electric models—including the EX30 and EX90—have faced delivery delays due to software issues, supply chain bottlenecks, and tariffs. Meanwhile, some competitors have adjusted their electrification strategies amid slowing EV demand, with certain automakers canceling pure-electric projects or even reintroducing diesel models.