Volvo plans to launch its entry-level electric SUV, the EX50, in 2027. Internally codenamed V326, the new model will be produced at Volvo’s plant in Košice, Slovakia. Built on the next-generation SPA3 platform and sharing it with the EX60, the EX50 will come standard across all trims with an 800V high-voltage electrical architecture. The vehicle features increased body length and height to optimize interior cabin space and better align with mainstream preferences in the North American market. Its overall dimensions are positioned to compete directly with models such as the Hyundai IONIQ 5, Toyota bZ series, and Ford Mustang Mach-E. The EX50 is expected to start at around $45,000—significantly lower than the $56,545 starting price of the 2026 EX40. Volvo has already filed trademark registration documents for the EX50 with the European Union Intellectual Property Office (EUIPO) and plans to unveil two new electric models in late summer 2024.