Volvo has no plans to challenge low-cost EVs in China as the ongoing price war intensifies. The EX30, Volvo’s cheapest EV, starts at around $28,000 (200,800 yuan), but that’s as low as the company will go.
Although Volvo was one of the first automakers to commit to an all-electric future, it recently backed off its pledge.
Volvo adjusted its 100% EV sales goal and now expects 90% to 100% of global sales to be electrified by 2030. That includes all-electric vehicles (EVs) and plug-in hybrids (PHEVs).
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