Volvo will not compete in the low-end EV space, says CEO

The company is said to be fast-tracking EX30 production in Ghent, Belgium

According to media reports, Volvo has no plans to challenge the influx of low-cost EVs in China. The company's most affordable EV is the EX30, with a price tag of $28,000, and Volvo has no plans of offering any model below this.

Jim Rowan, CEO of Volvo, stated, "I don’t compete at the low end of the BEV space in China." He explained how it can be "a tough place to be."

The automaker expects better results from the premium EV segment. The company sells the EM90 in China, which Volvo calls "a Scandinavian living room on wheels" with a 758 km range. Then, there is also the brand's EX90 flagship SUV priced at $115,000.

Rowan went on to state that the $28,000 EX30 will remain the brand's most affordable model, and "that's as low as the company will go."

The company is said to be fast-tracking EX30 production in Ghent, Belgium, to help overcome the new tariffs introduced by both the USA and the EU.

Source: Electrek