Volvo is preparing to launch the EX50 in the US, an entry-level electric SUV aimed at the Tesla Model Y that will start at under $50,000.
When is Volvo launching the EX50?
Following the EX60, Volvo is already preparing to introduce its next electric SUV. The EX50 is set to arrive at dealerships in 2027, replacing the EX40 as Volvo’s most affordable electric vehicle in the US.
Sources familiar with the matter told Automotive News that the EX50 is taller and longer than the EX40.
It will also be slightly cheaper, starting in the upper $40,000 range compared to the 2026 Volvo EX40, which starts at $56,545.
After reporting second-quarter earnings last month, Volvo said it would unveil two new electric models by the end of Summer. The same week, it filed a trademark for the EX50 name with the European Union Intellectual Property Office (EUIPO).
While the filing didn’t reveal much outside of the name itself, the EX50 will be based on the new SPA3 platform, the same one that underpins the EX60.
The 800-volt platform delivers faster charging, a longer driving range, and more interior space. It’s also flexible enough to support a wide range of body types and different battery pack sizes.
Volvo will build the new electric SUV, codenamed V326, at its manufacturing plant in Kosice, Slovakia.
It will arrive in 2027 in an increasingly crowded segment that’s still dominated by the Tesla Model Y. Volvo’s entry-level electric SUV will be closer in size to the Hyundai IONIQ 5, Toyota bZ, and Ford Mustang Mach-E, which are among the best-selling EVs in the US.
Some Volvo dealers are already getting excited. Matthew Haiken, owner of Prestige Volvo in East Hanover, NJ, said the EX50 is much like the Polestar 7, which will also be built at the plant in Slovakia.
Haiken, who had to stop selling Polestar vehicles in the US, said having a Polestar-like model to offer is “both exciting and a little disappointing.”
“At least I know Volvo will get a competitive product that gives us real differentiation from Tesla,” he said, adding “and hopefully a sliver of their market share.”
Electrek’s Take
Volvo has struggled to sell electric cars in the US with the Trump Administration’s policy changes, including import tariffs and the loss of the $7,500 federal EV tax credit.
In the second quarter, Volvo’s fully electric vehicle sales fell 44% with just over 1,500 models sold. The EX40, based on its old CMA platform, is due for an update, but it appears Volvo will introduce an all-new vehicle with the EX50.
Will it help compete in the US? Outside of the Tesla Model 3, the top 10 best-selling EVs in the US were electric SUVs in the first half of the year.
The Model Y remained in first by a wide margin, followed by the Model 3, Hyundai IONIQ 5, Toyota bZ, and Chevy Equinox EV.
Starting under $50,000 with fast charging, at least 300 miles of range, and modern tech, the EX50 may find its market in the US.
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