Volvo’s Cheapest EV Is Already Getting Replaced

Volvo’s entry-level EV will soon get larger and cheaper

Volvo’s small EX30 will go out of production after the 2026 model year, leaving the larger but older EX40 as its cheapest fully electric model. But that’s not going to cut it in the increasingly competitive sub-$50,000 EV segment, which is why Volvo plans to introduce the new EX50 in fall 2027. This compact electric SUV will replace the EX40 in the U.S. and will be similarly sized to vehicles like the Ford Mustang Mach-E and Hyundai Ioniq 5. Volvo will be hoping that the fresh EX50 provides a sweet spot in terms of value and practicality, essentially filling the gaps left behind by the EX30 and EX40 with a single model.

Volvo EX50 Specifications

According to Automotive News, the new Volvo EX50—which hasn’t been officially revealed yet—will be priced in the high-$40,000 range when it goes on sale. Currently, the EX40 starts at $56,545.

It will be based on the new SPA3 platform, the same one shared with the EX60. That means the EX50 will also have an 800-volt electrical system, which should ensure faster charging speeds and better efficiency. While the EX50’s range specifications remain unknown, we expect it to surpass the EX40’s maximum range of 296 miles. It’s also likely that single- and dual-motor variants will be available.

As the EX40 is based on the much older CMA platform shared with the gas-powered XC40, it’s become increasingly challenging to keep this model competitive. By contrast, the EX50 will be a dedicated EV from the ground up.

“The EX40 helped Volvo establish Volvo in the premium EV market, but today’s competitive landscape demands more than incremental updates,” said AutoForecast Solutions Vice President Sam Fiorani. “In this luxury segment, standing still is effectively falling behind, making a successor less a matter of necessity than long-term competitiveness.”

Dimensions are unknown, but the EX50 is expected to be marginally taller, wider, and longer than the EX40, with a resemblance to the new Polestar 7 crossover.

Volvo’s U.S. Lineup Set For Significant Expansion

Besides the EX50, Volvo has plans to launch a series of new models in the United States. The automaker is said to be considering a full-size flagship SUV above the XC90, which would directly target vehicles like the BMW X7 and Mercedes-Benz GLS-Class. The all-new Audi Q9 is another new arrival in that category.

The brand may also bring back a midsize sedan and wagon, possibly as soon as 2028. However, both these models will have fully electric powertrains.

The EX50 is likely to outsell that sedan and wagon, with AutoForecast Solutions estimating full-year production of the new SUV at around 90,000 units. 

Related: Volvo May Bring Sedans And Wagons Back To America, But Only As EVs

Why It Matters

Volvo’s lineup looks dramatically different today versus only a few years ago as the automaker continues responding quickly to shifting—and often unpredictable—customer demand. The business case for the EX30 hasn’t been there, particularly once the federal tax credit fell away, which is why this short-lived EV will soon be retired.

The EX50 will complete what Volvo hopes is a competitive electric SUV range. Together with the EX60, the EX50 will be a key model in helping to reverse the brand’s declining U.S. EV sales, which dropped by 33.1% in the first half of 2026.

Related: 2027 Volvo EX60 First Drive: 400 Miles Means No More Excuses