• Volvo confirmed a replacement for the EX30 is already in development.
  • The new electric SUV will arrive in North America sometime next year.
  • America boss Luis Rezende says the price will be very similar to the EX30.

That didn’t take long. Just a couple of months after Volvo confirmed it was pulling the EX30 from the US after the 2026 model year, the Swedish automaker has said it is already working on a replacement for its most affordable electric model.

Volvo Cars America president Luis Rezende dropped the news to reporters at the US launch of the larger EX60. While he stopped short of giving real specifics, he did confirm the new model will be priced in the same territory as the EX30. That matters, because the EX30 was originally meant to start at $34,950 before tariffs forced Volvo to add roughly $10,000 to the sticker.

Read: After Just Two Years, Volvo Drops Its Cheapest EV From America

“Very similar, I would say,” Rezende said when asked how the new model would compare to the EX30 on price, though it is not clear whether he meant the pre-tariff figure or the post-tariff one. “It’s going to be an EV that will deliver a lot of good things in a bigger space, but it will also be fun to drive, I can promise you.”

That last bit is the interesting part. The Verge reports that Rezende did not name the model, but evidence points to the next-generation EX40, which is already in development and will ride on the SPA3 platform shared with the EX60. The promise of “a bigger space” also lines up with what we know about the next EX40, which is set to grow over the outgoing car.

What Will It Cost?

The EX30 Is Dead, But Volvo’s Next Cheap EV Is Already On The Way To America

Pricing will be key. The current EX40 starts at around $56,000, which barely undercuts the brand-new EX60 at $58,400 before destination. Volvo will have to slash costs significantly if it wants the future EX40 or whatever else it names it to be priced around the same mark as the EX30. Either that, or it’ll have to be a stripped-out, back-to-basics model like the base versions of the Tesla Model 3 and Model Y. Alternatively, it could be an all-new model that we don’t yet know about.

Either way, Rezende confirmed that the new model will launch in the US next year, so its development must have been underway for quite some time. Volvo is not going to leave the slot empty for long if it can help it.

The EX30 Is Dead, But Volvo’s Next Cheap EV Is Already On The Way To America
The EX30 Is Dead, But Volvo’s Next Cheap EV Is Already On The Way To America
The EX30 Is Dead, But Volvo’s Next Cheap EV Is Already On The Way To America
The EX30 Is Dead, But Volvo’s Next Cheap EV Is Already On The Way To America
The EX30 Is Dead, But Volvo’s Next Cheap EV Is Already On The Way To America
The EX30 Is Dead, But Volvo’s Next Cheap EV Is Already On The Way To America
The EX30 Is Dead, But Volvo’s Next Cheap EV Is Already On The Way To America
The EX30 Is Dead, But Volvo’s Next Cheap EV Is Already On The Way To America
The EX30 Is Dead, But Volvo’s Next Cheap EV Is Already On The Way To America
The EX30 Is Dead, But Volvo’s Next Cheap EV Is Already On The Way To America
The EX30 Is Dead, But Volvo’s Next Cheap EV Is Already On The Way To America
The EX30 Is Dead, But Volvo’s Next Cheap EV Is Already On The Way To America
The EX30 Is Dead, But Volvo’s Next Cheap EV Is Already On The Way To America
The EX30 Is Dead, But Volvo’s Next Cheap EV Is Already On The Way To America
The EX30 Is Dead, But Volvo’s Next Cheap EV Is Already On The Way To America
The EX30 Is Dead, But Volvo’s Next Cheap EV Is Already On The Way To America
The EX30 Is Dead, But Volvo’s Next Cheap EV Is Already On The Way To America
The EX30 Is Dead, But Volvo’s Next Cheap EV Is Already On The Way To America
The EX30 Is Dead, But Volvo’s Next Cheap EV Is Already On The Way To America
The EX30 Is Dead, But Volvo’s Next Cheap EV Is Already On The Way To America