Volvo has shifted the U.S. launch date of its EX30, the company’s smallest and most affordable electric vehicle (EV), to 2025. Originally expected by the end of this year, the delay is attributed to a production ramp-up at Volvo’s Belgian facility.
This move follows major changes in the global automotive landscape. President Biden recently announced a 100% tariff on Chinese EV imports, citing ‘unfair practices’ and artificially low-priced exports. The European Union has also revealed plans for additional tariffs on Chinese EV imports, impacting companies like Geely, Volvo’s parent company.
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Bjorn Annwall, Volvo’s deputy CEO, expressed disappointment over these trade measures, highlighting the company’s dedication to open and fair trade. Annwall mentioned that EX30 models intended for the U.S. market could be sourced from Belgium, where production is set to begin in 2025, coinciding with the new U.S. launch timeline.
The EX30, which started production in China last fall, quickly gained popularity in Europe, with 14,500 units sold globally in the first quarter of 2024. Despite the delay, Volvo remains optimistic about the EX30’s potential in the U.S. market. Priced at $34,950 in the U.S., the EX30 ranks among the most affordable EV options, offering Single-Motor and Twin-Motor Performance versions with ranges of up to 275 miles and 265 miles, respectively.
The postponement introduces challenges for Volvo, as the EX30 will face heightened competition in the EV market next year. Any price increase beyond $40,000 could impact its competitiveness. Nonetheless, the EX30 boasts advanced safety and tech features, including built-in Google and Apple CarPlay support, maintaining Volvo’s reputation for high-quality vehicles.
Volvo recently commenced production of its larger EX90 electric SUV in South Carolina, further expanding its EV lineup in the U.S.
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