Volvo launches EX30 electric SUV with focus on affordability

MILAN, June 8 (Reuters): Volvo Cars launched its EX30 fully-electric small SUV on Wednesday with two battery options and a starting price of around 36,000 euros ($38,500), as carmakers compete with Tesla to make electric vehicles (EVs) more affordable.
The EX30 is the smallest SUV to date from the Sweden-based manufacturer and follows the unveiling of the larger electric EX90 in November. "It's a small SUV doing Volvo things," CEO Jim Rowan said during the car's launch event in Milan, Italy.
The starting price compares with over 40,000 euros for Tesla's Model 3, the US group's cheapest car. Tesla has cut prices several times this year to try to boost demand as competition heats up among EV makers.
Rowan, however, has said the group didn't need to follow Tesla on EV price cuts as market demand was healthy.
Volvo - which aims for half of its sales volumes to be EVs by mid-decade and to only sell EV by 2030 - said the EX30 was one of its biggest business opportunities in the coming years.
"Customers get a premium fully electric SUV for a similar price to combustion engine-powered equivalents," the group said.
The EX30 will be produced in the Zhangjiakou plant in China - which is operated by Geely, Volvo's controlling shareholder. - and is due to start later in 2023.