Volvo EX30 set for June 15 reveal; will “talk to a completely different demographic”

Volvo’s all-new electric small SUV, tipped to be badged as the EX30, will officially be revealed on June 15 according to the company’s global boss, Jim Rowan.

The new model, which will sit below the XC40 for size and price, will also be fast-tracked for an Australian launch later in 2023 as the brand looks to fulfil its promise of going fully-electric by 2026.

Volvo is embarking on an ambitious growth strategy in Australia and is targeting 20,000 local sales by 2026, with the EX30 expected to play a key role in boosting the brand’s sales.

The EX30 will also be a key volume player for Volvo worldwide with its lower price, smaller size and bold exterior styling aimed squarely at younger buyers.

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“We release a smaller SUV next,” Rowan told Wheels during a visit to Australia. “We teased that for you guys back in November, so we’ll release a smaller SUV on June 15, I think, so sometime in the middle of June this year we’ll release that.”

The EX30 is slated to begin production later this year with European deliveries set to commence towards the end of 2023. And in a boost for Australia, Wheels has learnt the EX30 is being fast-tracked Down Under and will launch here at the same time as Europe.

While official details of the EX30 (including the name) are yet to be confirmed, Rowan did provide some context around its positioning and target market.

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“The new smaller one [SUV] is a new addition to the range,” he said. “The age demographic at Volvo is a little older than we’d like. We’d like to get some more younger people into the brand. That will be a really nice price point I think for an entry level. Very safe, decent [driving] range, good size still, smaller than a 40, we’re going to talk to a completely different demographic, for the first time probably. And that younger demographic will probably be the ones that shop online.”

Online sales and offering buyers the option of leasing the EX30 via short- and long-term subscriptions will form a key part of the new model’s success according to Rowan.

“If we offer that on subscription, which we mightn’t offer here [in Australia], but certainly we know in Europe, when we offer a three month minimum subscription in Europe it drops the average age by 9.5 years. Anybody who is into data, that is a massive selling point.

“So when we offer that [EX30] as a subscription model at that early price point where you get your really good monthly cost, the younger people who are coming into the market for the first time will shop online and buy online.”

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As for how much the EX30 might cost in Australia, it will sit below the XC40 Pure Electric, which currently retails for $72,990. Just how far below that marker the EX30 will sit remains to be seen.

The EX30 will be built on Geely’s SEA architecture, which is currently used by the Zeekr 001 and will also underpin the forthcoming Polestar 4.

The platform supports offer-the-air updates and can also accommodate a number of battery sizes, which Rowan says will help Volvo achieve a competitive price for the EX30. Less expensive versions could use a smaller battery pack with a shorter driving range to help keep costs low, for example.