Volvo confirms a lower-priced EV for Europe in 2027

Volvo is going after the mass market with its next electric car. In its third-quarter results on Friday, the Swedish carmaker said the second model on its new SPA3 platform will be a "global BEV car, which targets a large, lower priced market segment" in Europe, Electrek reports. First customer deliveries are planned for after next summer.

Part of a bigger product push

The new EV is one piece of what Volvo calls its largest product offensive. The company plans 13 new cars through the end of 2030, each tailored to specific markets such as Europe, the US and China. Three of them will be revealed in 2027: one for Europe and two for China.

The first SPA3 car is the EX60, which Volvo calls "a big success" with more than 50,000 orders in Europe so far; we covered that EX60 order milestone earlier this month. SPA3 is a flexible architecture, so the second model does not have to be the same size or shape.

What is still unconfirmed

Volvo did not give a name, price, battery size or body style. Here is what other reports suggest, and how solid it is:

• Name: Volvo filed an EX50 trademark with the EU's intellectual property office in July. The filing confirms an electric model but no details, so linking it to this car is an informed guess.
• Body style: Electrek expects an SUV, likely a successor to the current EX40, but Volvo has not said so.
• Price: Automotive News has reported an electric crossover by the end of 2027 starting under $50,000. That is a report, not a Volvo price.

What about the US?

The "global" label leaves the door open. Earlier this year Luis Rezende, president of Volvo Cars America, said a new entry-level EV would arrive in 2027 to replace the EX30, at a price "very similar" to it. Volvo had promised a US EX30 Single Motor from $34,950, but later dropped the EX30 from its US line-up.

Meanwhile, Volvo is speeding up long-range plug-in hybrid versions of the XC90 and XC60, and will start building the XC60 in Charleston, South Carolina in the first quarter of 2027.

What it means for buyers

For European drivers, a cheaper Volvo EV on the newer SPA3 base could be a strong rival to Tesla's Model Y and Chinese brands, but until Volvo publishes prices and range figures it's only a promise. If you're shopping now, our guides to LFP vs NMC batteries and choosing a home EV charger apply whichever car you pick.