Category Archives: VolvoCars

VolvoCars

Volvo Cars Q2 results: full speed ahead in transformation with a solid business performance

  • Q2 revenue was SEK 102.2 bn (SEK 71.3 bn in Q2 2022)

  • Q2 EBIT (excluding JVs and associates) was SEK 6.4 bn (SEK 4.6 bn in Q2 2022)

  • Q2 EBIT was SEK 5.0 bn (SEK 10.8 bn in Q2 2022)

  • Q2 EBIT margin, excluding JVs and associates and without non-recurring items, was 7.2 per cent

  • Q2 EBIT margin (excluding JVs and associates) was 6.3 per cent (6.5 per cent in Q2 2022)

  • Q2 EBIT margin was 4.9 per cent (15.1 per cent in Q2 2022)

  • Q2 basic earnings per share was SEK 1.12 (SEK 3.00 in Q2 2022)

  • Q2 fully electric car sales share at 16 per cent (7 per cent in Q2 2022)

Volvo Cars today reports a 39 per cent increase in operating profits, excluding joint ventures and associates, to SEK 6.4 bn and a corresponding EBIT margin of 6.3 per cent for the second quarter of 2023. The result came despite a SEK 0.9 bn non-recurring item related to the redundancy programme announced in May, part of securing a more efficient and sustainable cost base for the future. Without this item, the underlying EBIT margin, excluding joint ventures and associates, was 7.2 per cent in the second quarter. This illustrates that the solid underlying performance momentum from the first three months of the year continued during this past quarter.

The company’s EBIT, including joint ventures and associates, reached SEK 5 bn, which was lower compared to the corresponding period last year. This is mainly because group EBIT for the second quarter of 2022 was positively influenced by the one-time, non-recurring accounting effects of Polestar’s listing on the Nasdaq stock exchange in New York. The interim report for the second quarter of 2023 can be found here.

“The second quarter of 2023 shows that the year is shaping up as planned,” said Jim Rowan, President and Chief Executive. “In these past three months we have continued to deliver on our ambitious transformation goals and made steady progress. At the same time, we also achieved a solid underlying business performance with increased sales and revenues. We are performing and transforming, while navigating the external challenges that have come our way.”

During the quarter, the company reported a continued strong sales performance in electric cars. Sales of fully electric Volvo car models increased by 178 per cent year-on-year during the quarter and accounted for 16 per cent of its total share. The company’s newly launched fully electric cars – the Volvo EX90 and EX30 SUV models – are not yet in production and have so far not contributed to the company’s 2023 performance. Once these new cars hit the roads, they will further boost fully electric car sales towards Volvo Cars’ ambitious goal to sell only fully electric cars by 2030.

While it delivered a higher percentage of fully electric cars during the quarter, the company’s margins on fully electric cars were impacted in this period because the lithium used in these cars was sourced when prices peaked during late 2022.

Additionally, as it introduced new model year 2024 fully electric cars with a considerably better range than existing models, Volvo Cars proactively shifted out the inventory of model year 2023 cars.

As the company enters the second half of 2023 this dynamic will change, since it will not only benefit from lower lithium prices, but also realise the effects of increased pricing on MY2024 fully electric cars. Therefore, margins on fully electric cars are expected to improve in the coming quarters.

Last month, Volvo Cars also revealed the fully electric EX30, its first ever small SUV. With this car, the company enters an important new segment and customer demographic, and one that it expects to grow rapidly in the coming years. The EX30 will also boost the company’s profitable growth in fully electric cars, with expected gross margins on the car in the range of 15 to 20 per cent. Both the EX30 and the larger EX90 are exciting steps into the future and clearly demonstrate Volvo Cars’ course going forward: premium electric cars, built on next-generation electric architectures with advanced battery and computing technology, as well as next-level passive and active safety features.

Volvo Cars continued its commercial transformation this past quarter. In June, it reached another key milestone when the United Kingdom became its first market to fully transform from a traditional wholesale business to a direct consumer model that is designed around flexibility for the customer. The knowledge it gains from the UK commercial transformation will be crucial as the company plans to make more markets fully direct in the coming years, together with its trusted retail partners. This will both improve the overall customer experience and make its commercial network more efficient, transparent and cost-effective.

In May, Volvo Cars also increased the focus on the global cost optimisation and resource efficiency initiative it launched late last year. This included a global redundancy programme including around 1,300 office-based positions in Sweden, as part of efforts to reduce costs and drive efficiencies across its global operations. The aim is to establish a more efficient and sustainable cost base for the future, by restructuring and changing ways of working in parts of the organisation, as well as focusing even more on securing the relevant skills it needs to be successful.

Q2 operating and financial performance

In terms of its operational performance during the second quarter, Volvo Cars recorded revenues of SEK 102.2 billion, an increase of 43 per cent versus the same period in 2022. It also saw a solid global sales increase of 25 per cent to 178,800 cars sold, a strong performance in electrified car sales, as well as continued premium pricing in many markets.

The sales performance was helped by improved production output in the company’s factories. During the second quarter, it produced 50 per cent more cars than in the same period last year. This is a validation of the steps the company introduced to make its supply chain more resilient, such as broadening its supplier base, improving performance and delivery from its suppliers, developing direct relationships with key semi-conductor companies and foundries, and creating more transparency in the overall value chain.

Second-quarter EBIT, excluding joint ventures and associates, was weighed down by a non-recurring item of about SEK 0.9 billion, but still came in at SEK 6.4 billion, an increase of 39 per cent year-on-year. This cost was related to the redundancy programme that was part of the enhanced cost-efficiency initiative announced in May.

Efforts to reduce the company’s CO2 footprint per car also continued to progress. During the second quarter of the year, overall CO2 emissions per car were 18.8 per cent lower compared with its 2018 benchmark, supporting its mid-decade ambition of a 40 per cent CO2 reduction per car.

Looking ahead to the rest of the year

2023 remains a crucial year in Volvo Cars’ transformation. With more new electric cars on the way and work ongoing on a new battery plant in Sweden and its planned new electric car factory in Slovakia, the company is putting in place important building blocks for its next growth phase.

It has opened a new Tech Hub in Krakow, Poland, which will complement existing ones in Stockholm and Lund in Sweden, and Bangalore in India. These Tech Hubs and its other R&D centres will help Volvo Cars deliver on its ambition to become a leader in future mobility, by creating a global powerhouse of next-generation technology. The company will also continue its commercial transformation towards more direct business and a constantly improving customer experience.

More broadly speaking, the company sees supply and demand continue to normalise in the wider market, which brings some additional pricing pressure as price levels have also started to normalise in several markets. Yet while rising interest rates in some of its largest markets put pressure on the consumer and the overall market, demand for Volvo cars continues to be healthy.

Assuming there are no further unexpected supply chain disruptions, Volvo Cars expects a solid double-digit growth in retail sales for the full year. It also expects the share of fully electric car sales to come in even higher than last year’s full-year share of 11 per cent.

“We’re staying the course and continue to make progress towards our ambition to be a leader in next-generation mobility,” said Jim Rowan. “The proof of a real transformation is in its execution and that is where our focus continues to be as we head into the second half of 2023.”

This disclosure contains information that Volvo Car AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 20-07-2023 07:00 CET.

VolvoCars

Invitation to Volvo Cars’ presentation of the second quarter 2023

Volvo Cars will release its financial results for the second quarter of 2023 on Thursday, 20th July at 06:00 UK time (07:00 CET).

At 08:30 UK time (09:30 CET), President and CEO Jim Rowan and CFO Johan Ekdahl will host a live stream for media, investors, and analysts. The presentations will be conducted in English and will be followed by a Q&A session.

We are looking forward to your participation. Please find below detailed information:

08:30 UK time (09:30 CET)         Presentation for media, investors, and analysts

Link: https://live.volvocars.com

If you are tuning in from China, please use this link: https://live.volvocars.com.cn

During the Q&A session following the main presentation, participants will have the opportunity to ask questions. You can either use the online chat function to type your question or call in. To call in, participants need to register and will receive the dial-in details and individual PIN.

Link to register

For further information, please contact:

Volvo Cars Media Relations

+46 31-59 65 25

media@volvocars.com

Volvo Cars Investor Relations

John Hernander

+46 31-793 94 00

investors@volvocars.com

VolvoCars

Volvo Cars Reports Significant Increase in Global Sales in June

Volvo Cars announced that it experienced a 33% growth in global sales in June compared to the same month last year. The boost in sales can be attributed to the company’s fully electric cars, which recorded a fourfold increase compared to last year. The figures for June 2022 were also affected by production constraints stemming from supply chain issues.

During the first half of this year, Volvo Cars sold a total of 341,691 vehicles, reflecting a 17% increase compared to the same period in 2022.

The Recharge line-up of chargeable models, which consists of fully electric and plug-in hybrid vehicles, saw a remarkable surge of 129% in June. These models accounted for 37% of all Volvo car sales worldwide during the month, with fully electric cars making up 14% of the total.

In Europe, sales grew by an impressive 70% compared to last year, reaching 27,196 cars. Recharge models held a 58% share of overall sales in the region. For the first six months of this year, European sales increased by 23% to 146,943 cars.

In the United States, Volvo Cars sold 12,933 vehicles in June, marking a 53% increase compared to last year. Sales of Recharge models grew by 79% and accounted for 29% of the total sales. Overall sales in the US for the first half of 2023 amounted to 59,750, an 18% increase compared to the same period in the previous year.

In China, sales reached 15,405 cars, which is a 7% decrease from the same month last year. Recharge models represented 8% of the total sales in China.

The top-selling model in June was the Volvo XC60, with 21,053 cars sold (compared to 18,275 units in 2022), followed by the XC40 with total sales of 18,170 cars (compared to 10,194 units in 2022) and the XC90 with 9,895 cars sold (compared to 9,949 units in 2022).

 

June

June

  

H1

H1

  
 

2023

2022

Change

2023

2022

Change
             

Europe

27,196

16,039

70%

146,943

119,770

23%

Recharge

15,708

5,426

189%

90,260

58,546

54%

 – Fully electric

5,487

883

521%

39,617

13,054

203%

 – Plug-in hybrid

10,221

4,543

125%

50,643

45,492

11%
             

China

15,405

16,468

-6%

78,526

70,233

12%

Recharge

1,294

675

92%

7,565

5,042

50%

 – Fully electric

270

118

129%

1,801

886

103%

 – Plug-in hybrid

1,024

557

84%

5,764

4,156

39%
             

US

12,933

8,434

53%

59,750

50,585

18%

Recharge

3,793

2,118

79%

17,489

15,905

10%

 – Fully electric

2,123

553

284%

7,603

3,811

100%

 – Plug-in hybrid

1,670

1,565

7%

9,886

12,094

-18%
             

Other

10,845

8,963

21%

56,472

50,713

11%

Recharge

3,625

2,426

49%

21,104

14,468

46%

 – Fully electric

1,655

584

183%

10,239

4,469

129%

 – Plug-in hybrid

1,970

1,842

7%

10,865

9,999

9%
             

Total

66,379

49,904

33%

341,691

291,301

17%

Recharge

24,420

10,645

129%

136,418

93,961

45%

 – Fully electric

9,535

2,138

346%

59,260

22,220

167%

 – Plug-in hybrid

14,885

8,507

75%

77,158

71,741

8%
VolvoCars

Volvo Cars switches to renewable fuels for ocean freight that will cut fossil CO2 emissions by 84%

Volvo Cars has become the first global car maker to switch to renewable fuel for its intercontinental ocean freight journeys. By using renewable fuel instead of traditional fossil fuel, the company will immediately reduce its fossil CO2 emissions from ocean freight by 55,000 tonnes per year. This renewable fuel reduces CO2 emissions by at least 84% compared to fossil fuel, which is equivalent to the CO2 emissions of a truck driving around the equator about 1,200 times.

The fuel being used is called Fatty Acid Methyl Esters (FAME), which is derived from renewable and sustainable sources, primarily waste cooking oil. It is important to note that no palm oil or palm oil production feedstock is used in the production of this fuel.

This switch to renewable fuel will apply to inbound ocean container transports of production material for Volvo Cars’ manufacturing plants in Europe and the Americas, as well as spare parts distribution globally by ocean container transports.

Javier Varela, the Chief Operating Officer and Deputy CEO of Volvo Cars, emphasizes that while renewable fuel is not the ultimate solution for reducing CO2 in ocean freight, this initiative demonstrates that immediate action can be taken to achieve significant results while waiting for long-term technological alternatives.

Volvo Cars does not see this initiative as a competitive advantage, but rather hopes to inspire other car makers to take similar action in order to increase the demand for carbon-efficient ocean transports and establish renewable fuels as a viable mid-term solution. The company believes that everyone has a responsibility to act in addressing climate change.

Volvo Cars has collaborated with logistics partners Maersk, Kuehne+Nagel, and DB Schenker on this initiative. These logistics service providers have also switched to renewable fuel for all container transports done for Volvo Cars since 1 June 2023.

When renewable fuel is not available for a specific shipment, the renewable fuel allocation of Volvo Cars is used by the logistics partner for another customer’s route, ensuring that the overall reduction in fossil fuel use remains consistent with actual use in container vessels. This methodology, known as mass-balancing, is regularly audited by third parties. The renewable fuel used is certified and does not compete with food crops, making it sustainable in accordance with the EU Renewable Energy Directive.

Javier Varela states that Volvo Cars is continuously exploring sustainability opportunities in its supply chain and overall business. The company aims to reduce its lifecycle carbon footprint per car by 40% between 2018 and 2025, including a 25% reduction in operational emissions, including logistics. Additionally, Volvo Cars is striving for climate-neutral manufacturing by 2025. These milestones are significant steps towards the company’s ambition of becoming a climate-neutral company by 2040.

1The comparison of fuels considers emissions from the production and use of an equivalent amount of energy, known as Well-to-Wake (WTW) emissions.

VolvoCars

Volvo Cars appoints new global Head of Marketing

Gretchen Saegh-Fleming has been selected to lead Volvo Cars’ global marketing team, starting from July 3rd. Her role will involve contributing to the company’s growth and strengthening the emotional connection between Volvo Cars and consumers. Additionally, she will play a crucial part in supporting the company’s efforts to expand its online business and establish direct consumer relations.

Gretchen comes to Volvo Cars after serving as the Chief Commercial Officer at connected fitness company Hydrow. Prior to that, she spent eight years at L’Oreal, where she held various executive positions, the most recent being the leader of the marketing function in the US. During her time at L’Oreal, Gretchen contributed to the brand’s growth through the implementation of new marketing strategies, acceleration of digital innovation, and establishment of strategic partnerships across their wide range of iconic brands.

Björn Annwall, Chief Commercial Officer and Deputy CEO of Volvo Cars, expresses confidence in Gretchen’s appointment, stating, “Gretchen is a results-driven and digital-first business leader with an impressive track record, and I feel confident that this will be a great match.”

Gretchen’s professional history includes successful contributions to business growth and profit improvement at companies such as General Electric and web startups. She is an accomplished marketing leader, recognized for her expertise in accelerating e-commerce, and a strong advocate for diversity and inclusion.

Björn adds, “With her extensive experience in leading marketing teams and developing direct-to-consumer businesses, Gretchen will play a vital role in growing our brand and attracting more fans to Volvo Cars as we progress in our journey towards full electrification.”

Gretchen joins Volvo Cars during a transformative period for the company, marked by changes in their product offerings, sales strategies, and distribution channels. This transformation is vital to the long-term ambitions and growth of the company.

Volvo Cars plans to achieve full electrification by 2030, introduce new methods of accessing their vehicles, provide a seamless online and in-store retail experience, and establish closer relationships with their expanding consumer base worldwide.

Gretchen expresses her enthusiasm for joining Volvo Cars, stating, “I’m truly thrilled to be joining Volvo Cars! Our family has been a customer of the brand for many years, and I now look forward to meeting my new colleagues across the world. Together, as one global marketing team, we will help position the company for a profitable, successful, and exciting future.”

Gretchen will be based at Volvo Cars’ US headquarters in Mahwah, New Jersey. She will report directly to Björn Annwall and become a member of the Group Management Team (GMT).

VolvoCars

Impressions that last in the new all-electric Volvo EX90 SUV

Remember the cool, smooth touch of the polished pebble you picked up during that beach walk many summers ago. Or the velvety feel of your old bottle-green armchair, and how the gentle resistance of its tiny fibres created a slight friction against your fingers.

The way our minds can hold on to tactile memories is remarkable, and it’s these simple encounters that remind us of the power of touch. Even the briefest connection can leave an everlasting sensation, so that decades later we can recall it as vividly as if we experienced it yesterday.

When our designers created the interior of our Volvo EX90 SUV, they picked materials that create lasting impressions. Materials from natural, recycled, and renewable sources. Materials that feel good and do good. Together with the design, it’s an expression of our company’s values and Scandinavian foundations.

“I work with an amazing team – they’re very much motivated by the values of our brand and meaningful design,” says Lisa Reeves, Head of Interior Design at Volvo Cars. “We have worked to redefine luxury by using more sustainable lightweight materials that really feel tactile and are of great premium quality.”

Natural, recycled and certified materials
This reinterpretation of luxury means that excess and conventional fabric make way for circularity and the progressive Nordico material.

The Nordico upholstery, created from textiles made from recycled material such as PET bottles, as well as bio-attributed polymer from forests in Sweden and Finland, sets a new standard for premium interior design.

“Our designers have put so much effort into designing the grain you can feel on the surface of the Nordico material,” says Lisa Reeves, referring to the intricate texture of ridges and valleys – like miniature landscapes.

Another EX90 upholstery option is our Nativa™-certified wool blend seat finishing, a fabric certified according to strict sustainability standards on animal welfare, environmental, and social issues. It has also obtained the Performance Certification from the Woolmark Company.

Together with FSC™-certified wood panels around the cabin and carpets partly consisting of regenerated polyamide, these material choices make sure that the Volvo EX90 consists of almost 50 kilogrammes of recycled plastics and bio-based materials – the highest amount of non-primary fossil-based materials in our line-up of cars.

The Volvo EX90 also allows you to customize your car’s interior by choosing between seven different ‘rooms’. Inspired by the Scandinavian lifestyle and its close connection to nature, each room provides a different mood, thanks to our designers’ thoughtful selection of color, upholstery, and material finish. And with the SunLike LEDs lighting the cabin with near-sunlight and enabling a more natural color expression, the wood deco and progressive materials of the Volvo EX90 stand out more clearly.

See below to learn more about the inspiration and creative approach of our designers:

VolvoCars

Volvo Cars receives two prestigious towing awards in one day

• Volvo V60 Recharge Plug-in Hybrid T6 wins overall in the Tow Car Awards 2023

• Volvo V90 Cross Country named Best Car for Towing in the 2023 Auto Trader New Car Awards

Volvo has achieved a remarkable double win with the V60 Recharge Plug-in Hybrid T6 being named the overall winner in the 2023 Tow Car Awards, and the V90 Cross Country winning the Best Car for Towing category in the Auto Trader New Car Awards 2023. Both honors were announced today, showcasing Volvo’s commitment to delivering cars with exceptional towing capabilities, even within its new range of electrified models.

The Volvo V60 Recharge Plug-in Hybrid T6 is the first plug-in hybrid model to be crowned the overall winner in the Tow Car Awards. It also won the category for cars in the ‘1900kg+: Up to £60,000’ class.

The judging panel consisted of experts from What Car?, Practical Caravan, and the Camping and Caravanning Club, who rigorously tested the contenders on the track. Steve Huntingford, What Car? Editor, commented: “With more power and a larger battery than before, the Volvo V60 Recharge offers an excellent all-electric range and tremendous performance while towing.” He also praised the car’s stability, spaciousness, and ease of towing, concluding that “it’s hard to find fault with the Volvo as a tow car.”

The mid-sized Volvo estate has a braked towing capacity of 2,000kg. Its power and torque, derived from the petrol-electric all-wheel-drive powertrain, are key to its strong and responsive towing performance. The 253hp 2.0-liter engine generates a maximum torque of 350Nm, working in conjunction with a 145hp electric motor with 309Nm. Its performance is supported by an 18.8kWh lithium-ion battery, allowing for an electric-only range of up to 55 miles when not towing.

The V90 Cross Country’s success follows the achievement of the Volvo XC40 compact SUV in the same Auto Trader awards category last year. This year, the V90 emerged as the winner based on survey responses from over 220,000 UK car owners who rated their vehicles across various consumer-focused lifestyle categories. The Cross Country version of the stylish estate car is specifically designed for outdoor exploration, featuring all-wheel drive, a raised ride height, and the ability to tow braked trailers up to 2,400kg. Additionally, it offers up to 1,517 liters of interior space.

Erin Baker, Auto Trader’s Editorial Director, said: “The gorgeous Volvo V90 Cross Country is an enticing package, offering a premium, spacious interior, great tech, a sublime drive, and that all-important towing capability. Owners particularly commented on its distinctive Swedish styling, which sets it apart from other mainstream manufacturers.”

Kristian Elvefors, Volvo Car UK Managing Director, stated: “Creating cars that are perfectly suited to towing is part of our heritage, and it is a legacy that we are proud to continue into the new era of electrified mobility. As these awards demonstrate, success is not only about raw power but also about creating a complete package that encompasses our signature qualities of stylish design, exceptional safety, practicality, and comprehensive connectivity and convenience features.”

For more information on the Volvo V60 and V90, and to use the online configurator, please visit www.volvcars.co.uk

Note to editors

• Range according to the realistic WLTP driving cycle under controlled conditions for a new car. Real‐world range may vary.

VolvoCars

Volvo Cars announces UK prices and specifications for the all-new, all-electric EX30

  • All-new EX30, Volvo’s smallest ever SUV, on sale to UK customers from today
  • Three electric powertrains:
    • Single Motor with 272hp and 51kWh battery
    • Single Motor Extended Range with 272hp and 69kWh battery
    • Twin Motor Performance with 428hp and 69kWh battery
  • On-the-road prices from £33,795
  • Two equipment grades at launch – Plus and Ultra; additional Core entry-level grade to be introduced later
  • Plus specification includes 12.3-inch touchscreen display, two-zone climate control, Harman Kardon premium sound system with dashboard soundbar, front and rear parking sensors and rear camera, heated front seats and steering wheel, a heat pump* and an 11kW on-board charger
  • Additional features on Ultra grade include 360-degree camera with virtual 3D view, fixed panoramic sunroof, Park Pilot Assist self-parking system, 20-inch alloy wheels, power-adjustable front seats and a 22kW on-board charger
  • All new EX30s benefit from three-year/60,000-mile care package
  • UK customer deliveries from first quarter of 2024

On the day that the all-new EX30 is revealed to the world, Volvo Cars is pleased to announce UK specifications and pricing for the fully electric small SUV. The new model goes on sale today and the first cars will be with UK customers in the first quarter of 2024.

The EX30 might be the smallest Volvo SUV yet, but its urban-friendly exterior dimensions belie a roomy and comfortable interior with plenty of smart storage space. Equally, it has a big role to play as a key model in Volvo Cars’ electrification strategy and growth ambitions.

Beyond having an electric powertrain and being constructed on a new pure-EV platform, the EX30 has been developed with a focus on achieving a smaller carbon footprint than any previous Volvo car. Its cleaner profile is not limited to zero tailpipe emissions: it also takes in greater use of recycled materials in the car’s construction and close scrutiny on reducing lifecycle carbon emissions, from materials sourcing to supply chain operations, manufacturing processes and end-of-life disposal.

Kristian Elvefors, Volvo Car UK Managing Director, said: “The EX30 has huge potential for expanding the reach and performance of our brand in the UK. It brings together our established strengths in electrification, safety and design without compromise in a convenient, compact package. With an authentic approach to improving sustainability and lowering carbon emissions, it will have strong appeal to urban consumers looking for an efficient electric car that’s easy to live with. Together with our retail partners, we are excited to bring fresh thinking and a genuinely new proposition to the market for small SUVs.”

The UK model range

The EX30 range in the UK will come with three different powertrain options: a Single Motor version with 272hp and a 51kWh battery; a Single Motor Extended Range with 272hp and a 69kWh battery; and a Twin Motor Performance with 428hp and a 69kWh battery.

On-the-road prices are from £33,795 for the Single Motor versions, £38,545 for Single Motor Extended Range cars, and £40,995 for the Twin Motor Performance models.

Pre-homologation performance figures indicate a potential driving range of up to 298 miles on a single battery charge, with power consumption of up to 4.0 miles/kWh. Battery charging will be quick and convenient, with 10 to 80% charging in as little as 26 minutes. The EX30 also promises rapid acceleration, with the Twin Motor Performance version expected to accomplish 0-62mph in just 3.6 seconds – making it the fastest-accelerating Volvo car ever.

Customers can choose from five exterior paintwork colours and a series of interior treatments, classed as ‘rooms’ – each with its own ambience and character created through different textures, colours and finishes, using a range of sustainable and recycled materials.

Plus and Ultra equipment grades

The initial UK model range consists of two equipment grades, Plus and Ultra. Both reflect the priorities of today’s customers for seamless connectivity, digital integration and intuitive functionality, together with high levels of safety, comfort and convenience. An additional entry-level Core grade will be added at a later date, at a lower price point.

The Plus versions come as standard with a 12.3-inch central touchscreen with built-in Google functions and wireless smartphone integration using Apple CarPlay. There’s also a Harman Kardon premium audio system, featuring a new soundbar that extends across the width of the dashboard. The two-zone climate control set-up has an air-purification system and uses an energy-saving heat pump*, while the heated front seats and steering wheel help contribute to quick and efficient warming. A rear camera and front and rear parking sensors help the driver safely manoeuvre tight spaces, and Pilot Assist provides adaptive cruise control with steering assistance to help keep the car safely within its lane. There’s also an 11kW on-board charger and the peace of mind of a three-year/60,000-mile care package that covers the car’s standard servicing schedule, plus wear-and-tear consumables.

Building on this specification, the EX30 Ultra models provide higher levels of driver-assistance with a 360-degree camera with virtual 3D view and Volvo’s Park Pilot Assist automatic parking system. Other features include a fixed panoramic sunroof, 20-inch alloy wheels, power-adjustable front seats, dark-tinted rear windows and a more powerful, 22kW on-board charger.

Safety leadership

Safety is synonymous with the Volvo brand, and the EX30 small SUV benefits from new technology to give extra protection to everyone on board – and other road users. It introduces Safe Space Technology, which specifically addresses the kind of accident risks familiar in urban areas.

This equips the car with front and rear Cross Traffic Alert with brake support, which detects and warns the driver of other vehicles approaching unexpectedly and applies automatic braking if there’s an imminent collision risk. There is also Door Opening Alert, which gives visual and audible warnings to help guard against a door being opened into the path of a cyclist or other road user approaching from the rear.

On-the-road pricing

EX30 Single Motor Plus – £33,795

EX30 Single Motor Extended Range Plus – £38,545

EX30 Twin Motor Performance Plus – £40,995

EX30 Single Motor Extended Range Ultra – £42,045

EX30 Twin Motor Performance Ultra – £44,495

WLTP range figures (preliminary data)

EX30 Single Motor – up to 214 miles

EX30 Single Motor Extended Range – up to 298 miles

EX30 Twin Motor Performance – up to 286 miles

For more information on the EX30, and to use the online configurator, please go to www.volvcars.co.uk

VolvoCars

The fully electric Volvo EX30 SUV: a small car with big potential

Sometimes, first impressions can be misleading. Yes, the new Volvo EX30 is our smallest SUV to date. And yes, it comes at an attractive price. But it can have an oversized impact, representing one of our biggest business opportunities in the coming years.

The Volvo EX30, available to order now in selected markets*, is a cornerstone of the strategic transformation we are on as a company. Already by mid-decade, we aim for half of our global sales volumes to consist of fully electric cars and to reach an operating profit margin of 8-10 per cent. By 2030, we plan to sell only fully electric models.

We expect the EX30 to be one of our best-selling models in the coming years as we work towards those ambitions, and it will significantly contribute to our growth and profitability objectives.

With the Volvo EX30, we enter a new and fast-growing segment for our brand. There is a growing demand from consumers globally for small, fully electric premium SUVs. For example, many people living in the city are looking for a car that brings convenience and allows them to commute to work and get around, while doing so in a way that reflects who they are.

The EX30 is also designed to be as safe as you’d expect from a Volvo car and aims to look after both you and others in hectic urban environments. For example, it includes a special safety feature for bikes that helps to prevent so-called ‘dooring’ accidents, by alerting you when you are about to open your door in front of a cyclist, scooter or runner. State-of-the-art protective safety technology further illustrates how we’ve applied our high safety standards to the EX30.

The EX30 provides drivers with a true and capable SUV, born electric and packed with all the smart tech that they need. Combined with an attractive starting price of around EUR 36,000, this means customers get a premium fully electric SUV for a similar price to combustion engine-powered equivalents.

And as if that wasn’t enough, data from our initial analysis in two markets shows the total cost of ownership to be currently lower than any other fully electric Volvo car – and well ahead of much of the competition in the electric, small SUV segment*.

“We know that price and cost of ownership is still one of the biggest challenges when people consider switching to an electric car,” said Jim Rowan, our Chief Executive. “With the Volvo EX30, we aim to bring premium, fully electric mobility to a much broader audience, helping to advance and speed up the transition to full electrification that our industry and society needs.”

In the way you want it

With its convenient size, smart technology and different configurations to choose from, the Volvo EX30 is designed to appeal to a wide range of customers – each with their own preferences, needs and ways of life.

That same flexibility and convenience is reflected in the way we structured the commercial offer. It is designed around convenience and freedom of choice. You decide how you want to access a Volvo EX30: for example, through outright ownership, leasing or subscription.

Our Care by Volvo subscription offer has been very successful in recent years, not least because it gives customers flexibility and price predictability. We’ll offer that same level of transparency on the EX30: you can see your monthly cost at a glance, without hidden fees or costs, allowing you to enjoy life with your EX30 even more.

“With subscriptions for the EX30 starting at EUR 599 per month, we strongly believe this car will be an attractive choice for many customers – not just for our existing customers, but also to those who are new to the Volvo brand,” said Björn Annwall, our Chief Commercial Officer and Deputy CEO. “That will allow us to create new customer relationships and boost customer retention over time.”

A seamless customer experience

The Care by Volvo subscription packages are part of our ever-growing online offer. We’ve focused on developing a simple, intuitive and smooth buying process via our online flagship store, volvocars.com. Transparent online pricing without hidden fees, as well as an easy-to-understand offer, makes ordering a new Volvo EX30 a breeze.

That online sales process reflects our ambition of creating the best possible customer experience, seamlessly merging online and offline channels. Regardless of whether you visit one of our retailers, walk into one of our urban studios, head to our website or use the Volvo Cars app, everyone should get the same outstanding and meaningful experience.

In addition to the United Kingdom, which will be our first market to switch to a fully integrated online/physical, direct-to-consumer model this year, the Volvo EX30 will also be available online in other selected markets.

The small print

  • The Volvo EX30 is available for order as of today across Europe and other selected markets. In the United States, customers can place pre-orders, while orderbooks will open in other markets at a later stage that will be communicated in due course.
  • Total cost of ownership calculations from third-party data, based on 36 months and 60,000 kms of driving an EX30 Single Motor Core in the German and French markets. We expect similar results in other markets.
VolvoCars

Small yet mighty: say hello to the fully electric Volvo EX30 small SUV!

As a small SUV that does big Volvo things, our new fully electric Volvo EX30 is designed to be as safe as you’d expect from us. It is designed to have the smallest CO2 footprint of any Volvo car to date, and to make people’s lives safer, more convenient and more enjoyable through cutting-edge technology and Scandinavian design.

Revealed to the world today in Milan, Italy, and available to order now in selected markets*, the EX30 is our first small premium SUV and expands our constantly growing, all-electric offering to four models. As the market is rapidly moving towards full electrification, the EX30 will help us capture growing demand for fully electric cars in a fast-growing segment.

What’s more, the attractive pricing of the EX30 – which starts at around EUR 36,000 – means our customers get a premium all-electric SUV for a similar price as an internal combustion engine-powered equivalent. The EX30 will also be available with our Care by Volvo subscription package, with its set pricing and transparent ordering process, making ordering one a breeze.

“The fully electric EX30 might be our smallest ever SUV, but it’s a big deal for our customers and a big deal for us as a company,” said Jim Rowan, our Chief Executive. “We like to say the EX30 is small yet mighty, because it delivers on everything you’d want from a Volvo but in a smaller package. Like any Volvo, it’s an outstanding product which is safe and designed around people and their needs.”

The EX30 embodies all of our design values in a smaller format. A long wheelbase, large wheels and equal overhangs bring balance and refinement to the exterior. It’s distinctly electric, with a confident face, closed shield and a digital rendition of the Thor’s Hammer headlights. Five vibrant exterior colours, from stylish Cloud Blue to bright and expressive Moss Yellow – the latter inspired by lichen growing on rocks along the Swedish west coast – give it character and personality.

 

Battery tech that suits your needs

So let’s talk about our battery technology. First of all, there’s no such thing as simply ‘a battery’ when we discuss powertrains. Instead, we’re giving you the freedom to choose the battery technology that best suits your needs, offering the EX30 with three powertrain options and two different battery types, which also allows us to offer an attractive entry price point for the EX30.

If you spend most of your time in the city or tend to travel shorter distances between charges, we’re offering a single-motor option with an LFP battery. The LFP standard-range battery, which uses lithium iron phosphate chemistry, is more cost-effective and less resource-intensive to produce, meaning it is the best option if you don’t need maximum range.

If you prefer to maximise range, the Single Motor Extended Range variant with an NMC extended-range battery is your EX30 of choice. The NMC battery features lithium, nickel, manganese and cobalt, and produces its energy more efficiently than the LFP variant. This single-motor, extended-range option gives you a range of up to 480km between charges.

Finally, if performance is your priority, pick the Twin Motor Performance variant in which we pair the NMC battery with an additional second e-motor. This all-wheel-drive variant of the EX30 provides 315kW (428hp) and takes you from 0-100 km/h in 3.6 seconds – it’s officially our fastest-accelerating car ever!

Another thing the EX30 does fast is charging. The extended-range Twin Motor variant has a charging capacity of up to 153kW, while the standard-range car has a capacity of 134kW. That means you can charge your battery from 10 to 80 per cent in a little over 25 minutes. Through the car’s centre display and app, you can set the amperage, maximum charging level and when you want to start charging.

To support the best possible driving experience, we’ve tuned the chassis of the EX30 to make the most of the car’s compact dimensions. Its low centre of gravity as well as its relatively low and evenly distributed weight are complemented by ease of driving and nimbleness in the city and beyond.

 

A smaller carbon footprint, yet a big safety impact

As we wrote in earlier blogposts, the EX30 is designed to have the lowest carbon footprint of any Volvo car to date, and represents an important step forward for our sustainability ambitions. By tackling emissions across the entire production and lifecycle of the car, as well as a considerate use of materials inside and out, we managed to reduce its total carbon footprint over 200,000 kms of driving to below 30 tonnes*.

The EX30 is also designed to be as safe as you’d expect from a Volvo, and aims to look after both you and others in hectic urban environments. For example, it includes as standard a special safety feature for bikes that helps to prevent so-called ‘dooring’ accidents by alerting you when you are about to open your door in front of a cyclist, scooter or runner.

Our protective safety technology further illustrates how we’ve applied our high safety standards to our new small SUV. It contains state-of-the-art restraint technology, as well as top-notch structural design that fulfils our ambitious in-house safety requirements – designed to prepare our cars for various real-world scenarios.

The EX30 also aims to make your life more convenient, more relaxing and more enjoyable inside the car through cutting-edge tech and considerate Scandinavian interior design. You can choose from four distinct interior rooms, each with their own expression, while there are smart storage options throughout the cabin.

Together with a contextual single-screen UX, with Google built-in and running the latest version of our infotainment system, these features all reflect the hallmarks of true Volvo design.

Speaking of cutting-edge tech, the Volvo EX30 is our first car to include a new generation of our popular Park Pilot Assist feature. It can handle all types of parking spaces, including parallel, curved, perpendicular and diagonal fishbone-style, making parking in tight spaces a breeze.

The new Park Pilot Assist will identify any available parking spots around you. Then, once you’ve tapped the one you want in the new 3D user interface, the feature will operate the accelerator and brake as well as the steering. While you supervise the parking process, the screen shows the distance to objects such as cars, walls and bollards in metric or imperial figures.

As with any Volvo car, for the EX30 we’ve worked closely with tech partners such as Google, Apple and Qualcomm to deliver the best possible user experience. We’ve also worked closely with ECARX through our jointly owned HaleyTek software joint venture to deliver the best possible infotainment platform for our customers.

A sense of calm

Of course, the EX30 will also come with a digital key functionality which is both convenient for you and makes it easy to share the car with others. Built on the advanced UWB and CCC industry standards, our technology will be compatible with a wide range of phone brands and models.

The car’s dedicated app contains all relevant services related to the car, from charging to finding your car in a busy car park, locking it and heating it on a cold winter day. The EX30 is also prepared to receive software updates over the air that will make it better over time.

As if that wasn’t enough, the Volvo EX30 also comes with a choice of five different ambient lighting themes. Each is inspired by a different Scandinavian landscape and subtly shifting in colour, adding a sense of calm to the interior.

Whether you prefer the warm sunlight falling through the leaves of a Scandinavian forest, a sunset on the Swedish west coast, the world famous northern lights, the golden summer skies of Swedish midsummer or the bright mood of an urban sunset, your EX30 will be filled with the colours of your choice. For extra immersion, you can pair each lighting theme with an ambient soundscape.

 

Zooming across the country in style

Finally, we’ve got a surprise for you. Starting next year, our EX30 will also become available as a Cross Country variant. Order books for this special version of our small electric SUV will open in 2024, with production expected to start later that year.

The Volvo EX30 Cross Country will build on our long Cross Country heritage, our celebrated line-up of models for customers who want a bit more adventure from their car. It’ll come with a range of bespoke features, such as more ground clearance, 19-inch black wheels and the option of 18-inch wheels with bespoke tyres.

When you take your EX30 Cross Country off the beaten path, it will be recognisable by its skidplates on the front, rear and side, special black panels on the front bumper and bootlid, and stylish Cross Country branding – the small, bonnet-mounted Swedish flag is the cherry on top.

Watch our Chief Executive Jim Rowan unbox the new EX30 here: https://www.youtube.com/watch?v=UBsPUpqSPFs

The small print

  • The Volvo EX30 is available for order as of today across Europe and other selected markets. In the United States, customers can place pre-orders, while orderbooks will open in other markets at a later stage that will be communicated in due course.
  • The carbon footprint calculation of below 30 tonnes over 200,000 kms of driving is based on usage of charging electricity from the EU27 electricity mix. The lowest carbon footprint of any Volvo car to date statement relates to globally available products over 200,000 kms of driving.
  • Charging times are dependent on factors such as outdoor temperature, current battery temperature, charging equipment, battery condition and car condition.
  • Range according to the realistic WLTP driving cycle under controlled conditions for a new car. Real-world range may vary. Figures are based on preliminary target.
  • Digital key functionality subject to phone compatibility. UWB-based technology is scheduled to be rolled out next year via an over-the-air software update.
  • Features and services may not be available in all markets and will not be standard in all markets or for all models.