Volvo on Monday revealed the all-electric Volvo Ex60 in New York City, putting a $58,400 starting price on the SUV and opening online orders the same day as it tries to widen its place in the U.S. electric vehicle market. The model will go on sale in the United States later this year, and Volvo said the EX60 will be built in Europe.
The cheapest version, the EX60 P6, is aimed at a 307-mile range, while the range-topping EX60 P12 AWD is expected to reach 400 miles. Volvo said the P6 can add 155 miles of driving in 10 minutes on a fast charger, a figure meant to answer one of the biggest concerns holding back EV buyers: how long they will spend plugged in.
The launch lands at a difficult moment for automakers trying to sell electric cars in the United States. Volvo is trying to grow after the federal EV tax credit expired, and the company is doing it in a market where its own executives say demand has softened before showing signs of recovery. Luis Rezende said the company saw “a decrease is EV demand after 45W credit [federal EV tax credit] going away,” but said interest has started to improve again as oil prices rise. He added that website traffic for Volvo’s EVs and plug-in hybrids is also climbing.
Volvo’s U.S. lineup is still built around bigger vehicles: large SUVs, midsize and compact SUVs, plus the V60 Cross Country wagon. Its gas-powered models are all mild or plug-in hybrids, with fully electric cars carried under the EX badge. That makes the EX60 important for more than one reason. It is meant to be a mainstream entry in a portfolio that is still heavier on hybrids, and it gives Volvo another test of whether it can sell an EV at scale without the old tax break cushioning the price.
The company is also looking beyond one model. Volvo plans to expand U.S.-based production at its South Carolina plant, and it will bring production of its high-volume XC60 gas-powered SUV there as well. Samuelsson said the automaker is also developing another new car with the U.S. market in mind, describing it as “somewhat bigger,” “family-oriented” and easier to understand, while saying it would be difficult to make that vehicle a pure EV. That points to a broader U.S. strategy that mixes electric models with the hybrids and gas vehicles still carrying much of the brand’s volume.
There is also a trade angle to the EX60 story. The SUV will be built in Europe and face tariffs in the U.S. market, which makes its $58,400 starting price more than a marketing line. Samuelsson said the company sees room to balance that pressure by producing more in South Carolina, noting that it is “15% coming into the country” now but “0% exporting from the US into Europe,” a setup he said would help the Charleston factory. For Volvo, the EX60 is not just a new electric SUV. It is a price test, a demand test and a strategic bet on whether U.S. buyers will keep coming back to EVs even after the tax credit is gone.
