Volvo Introduces the EV, Its First All-Electric Vehicle

Following in the footsteps of Chevrolet with their Bolt EV, which offers a yet-unmatched 200 miles of range for $36,000, Volvo is releasing their own competitor to the electrical car market. Their EV will go on sale in 2019, joining Chevrolet, as well as Tesla (who plans to release the entry-level Model 3) and Nissan (who are planning a new Nissan Leaf). Volvo promises that their first all-electric vehicle will achieve a 250-mile range, and will retail for $35,000 and $40,000–threatening to eat into Chevrolet’s substantial market share.

Volvo’s Affordable Electric Vehicle

Volvo Introduces the EV, Its First All-Electric Vehicle

As of yet, no other auto manufacturers are planning to release an electrical vehicle in this price range. Jaguar and BMW are both busy with plans for the I-PACE and the i3, respectively, but the I-PACE will retail for $60,000, making it out of reach for many entry-level consumers, and the i3 is not expected to reach a competitive mile range, though it will retail in the low $40,000 price bracket.

Volvo Has The Fully Electric Car With Range

But Volvo CEO Lex Kressemakers sees the Volvo EV’s 250-mile range to be key to its future success.

“That’s what I put in as the prerequisite for the United States,” Kerssemakers said. “If I want to make a point in the United States, if I want to make volumes, that’s what I believe I need. Why are people reluctant to buy a full electric car? It’s between the ears. It’s that they believe there’s not sufficient range.”

The new Volvo EV will likely be modeled after the S40 sedan, as hinted by the 40.2 concept car they debuted last year. They may also release a compact crossover variant, as hinted by the 40.1 concept car. This would be modeled on the next generation XC40, and would allow the brand to be competitive with Tesla’s upcoming Model Y.

Volvo’s EV will be the brand’s attempt to cash in on the growing luxury EV market. These manufacturers seek to expand hybrid and all-electric models while keeping abreast of the complex legal regulations that surround alternative fuel vehicles.