The identity of the vehicle was confirmed by Volvo CEO Jim Rowan in an interview with Automotive News (subscription required) published on Monday.
Rowan said the EX30 will be built in China from 2023, and will be a key way for Volvo to meet a sales target of 1.2 million vehicles annually by 2025—half of which are to be EVs. Volvo sold 698,693 vehicles in 2021 and is on track to sell slightly fewer this year, due to production disruptions in China.
Rowan also said the EX30 will be offered through the Care by Volvo subscription plan, something he said will help attract younger buyers, as the company will require only a three-month minimum subscription.
“It’s that Gen Z person who is 18, 19 years old and coming into the car market for the first time and looking for the right price point plus the flexibility, the insurance and roadside assistance that Care by Volvo offers,” Rowan told Automotive News when asked about the entry-level buyer.
Volvo briefly showed a shadowy image of the EX30 during the EX90's reveal. The teaser points to a vehicle with similar styling to the EX90, but on a smaller scale.
The EX30 is expected to be based on the SEA modular EV platform from Volvo parent company Geely. The platform made its debut last year in the 001 hot hatch from fellow Geely brand Zeekr, and features an 800-volt electrical system for high-speed charging. Production of the EX30 will be handled at one of Volvo's Chinese plants; Geely will also set up plants to handle production of SEA-based vehicles.