Volvo Plans Larger, Similarly Priced All-Electric Entry-Level Model to Replace EX30

Volvo has begun developing a new entry-level all-electric model to replace the EX30, which is set to be discontinued in the U.S. market. The new vehicle is expected to debut in 2026, stepping into the EX30’s position after the latter exits the U.S. market following the 2026 model year. During the recent U.S. launch event for the EX60, Volvo Cars USA President Luis Reisende confirmed that development of the new model is already underway and that its pricing will remain in a range similar to that of the EX30. Originally, the EX30 was slated to start at $34,950 in the U.S., but tariffs pushed its actual price up by approximately $10,000, significantly undermining its price competitiveness. Reisende stated that the successor model will not only offer more interior space but also retain the EX30’s engaging driving dynamics. Rumors suggest the new vehicle could be launched as the “next-generation EX40.” Both the current EX40 and the all-new EX60 are built on Volvo’s SPA3 platform, and the upcoming model is expected to use the same architecture while featuring a larger footprint. The current EX40 starts at around $56,000, while the EX60 begins at $58,400—prices that are already quite close. However, Volvo may also be working on an entirely new model with a different name rather than simply updating the EX40.