It looks like Volvo wants a slice of the affordable EV pie, too. Lex Kerssemakers, Volvo Car USA’s CEO, revealed that their upcoming EV will be boasting a range of at least 250 miles and priced between $35,000 to $40,000, according to a report by Digital Trends.

Although Volvo is traditionally a luxury brand, its price tag of up to $40,000 could easily rob some buyers from the Chevy Bolt when it goes on sale in 2019.

Even Tesla’s Model 3 may be at risk as well. Despite the automaker planning to launch the Model 3 before 2019, its first vehicle deliveries are expected to be higher-priced units, the $35K Model 3, and it may not ship until about the same time as Volvo unleashes its model.

The upcoming Volvo EV will be based on the 40.2 concept showcased last year. This implies that the model will most probably be a variation of the next-gen S40 sedan. It’s also likely that Volvo may come up with a compact crossover version of the EV, based on the next-gen XC40, resulting in a potential Tesla Model Y crossover rival.

Well, Volvo is the first premium automaker to claim that it is working on a long-range EV that sits in the $40,000 domain and it just may be kicking Chevy’s Bolt and Tesla’s Model 3 to the curb.

Staff Reporter

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