Volvo’s new entry-level model bucks the trend of expensive EVs.

New for 2025, the EX30 is a big risk for Volvo, but one that could prove very rewarding for EV shoppers.

The EX30 is Volvo’s new entry-level model, positioned below the XC40 in the automaker’s lineup. Volvo’s previous attempts to move down-market in the U.S. have produced mixed results, and the Swedish automaker is compounding the risk by making its cheapest model an EV. But it’s also reshaping the current EV landscape.

That’s because Volvo plans to offer the EX30 with over 250 miles of range for less than $40,000, a combination that brings to mind the now-defunct Chevrolet Bolt EV, not something from the more prestigious Volvo brand. It also means the EX30 will undercut mass-market EVs like the Hyundai Ioniq 5, Kia Niro EV, Tesla Model Y, and Volkswagen ID.4 while aiming to deliver the same experience as traditional Volvo models.

The EX30 is scheduled to reach U.S. showrooms during the summer of 2024 in Single Motor Extended Range and Twin Motor Performance configurations, with Core (Single Motor only), Plus and Ultra trim levels. We drove single-motor and dual-motor versions, both in top Ultra spec.