‘Prepare for something small’: Volvo Cars unveils new all-electric EX30

Big news: Something small is coming. Last month marked the global debut of the new EX30 – a fully electric small SUV that is big on safety, technology and innovation.

For those that want to get a look before it launches in Australia, there’s a 30-second teaser here.

Or sign-up for details of the live stream – and to receive the first batch of EX30 information direct to your inbox – here.

**Small car, big deal**

The EX30 is central to Volvo Cars’ growth with a doubling of global production targeted over the next few years.

That’s because a smaller EV at a lower price point will attract a new kind of customer, according to Global CEO Jim Rowan, increasing demand for Volvo Cars.

“We have forecast] a 1.2 million run rate by mid-decade. So what drives that? I think some of the narrative that is not picked up is that the new smaller SUV [the EX30] will be a lower price point than our current battery electric vehicle cars,” [Rowan in February told analysts that questioned whether Volvo can achieve its ambitious production targets.

“That will allow us to pick up a new demographic. It won't be in a major way cannibalistic to our existing sales.”

Rowan believes subscription models, i.e. people renting cars on shorter, more flexible terms than multiyear leases, will also attract a younger customer base. He thinks subscription economics stack up because pure electric vehicles have higher residual values than petrol and diesel cars.

“When we release [the EX30] and put that on a subscription-based ownership model, it allows us to talk to brand new customers,” said Rowan. “Gen Z drivers who are coming to the car market for the first time, because it makes it affordable.”

Volvo Cars can then work on retaining those customers “for life”, said Rowan, and move them through the model range as their needs and life stages change.

Stay tuned for the Australian launch of the Volvo EX30. Sign up for the latest updates.