Volvo is hell bent on its plans for a full-electric vehicle and could stir the market in the realms of pricing and, the most important, range. Despite producing a number of hybrids in the past, the Swedish automaker expects to release its yet unnamed Volvo EV by 2019 and it might just rain on Tesla Model 3's and the Chevrolet Bolt EV's parade. Let's see how this upcoming competitive EV stack up against the ones who are already making waves in the market.
During the 2017 Geneva Motor Show, Volvo Car USA CEO Lex Kerssemakers pointed out that they plan on bringing the full EV to US soil for an aggressive base price of $35,000 to $40,000 with at least 250 miles of range. "That's what I put in as the prerequisite for the United States," CEO Kerssemakers said. "If I want to make a point in the United States, if I want to make volumes, that's what I believe I need."
— Volvo Cars (@volvocarsglobal) March 13, 2017
Now, if this were the case, it would put the vehicle at the lower end of the Swedish company's price range, even despite it being battery-powered or not, according to Electrek. But it will indeed make for a worthy adversary for the Chevrolet Bolt and the highly anticipated Tesla Model 3.
Tesla Model 3 is expected to launch this year promising a range of 215 miles. The company claims that it combines real-world performance, spaciousness, and safety. With a base price of $35,000 before incentives, the Volvo does look at a bit more interesting, well base solely on the price and range.
Now, with the Chevrolet Bolt EV, Tesla's stiffest competition yet, could become the Volvo EV's. It is currently one of the most affordable EVs offering the best ranges in the market with around a 238-mile range. The Chevrolet Bolt EV has a price tag starts at $37,500, with fast charging at $38,250.
The introduction of Volvo of their own full-electric EV with a higher range and lower price could stir competition, namely, Tesla Model 3 and Chevrolet Bolt EV. However, the catch right now is that the Swedish company has not officially confirmed which vehicle segment it plans to release the EV, as its CEO didn't offer hints.
Concepts 40.1 (SUV) and 40.2 (sedan) were the two concepts from Volvo that were unveiled in 2016. These could be those yet-unnamed EVs.
Now, Volvo is cutting it close if it plans to release the EVs by 2018, but the company notes that their new platforms would be the key to a rapid development timescale. Also, MotorTrend pointed out that the Volvo EV could ride on the company's CMA platform. The Swedish automaker plans to accumulate a global fleet of "up to 1 million electrified cars by 2025 globally."
The growing incentive offers from different states in the US paves the way for more affordable full-electric vehicles with a higher mile range. So, this will be an even more exciting market for both Tesla Model 3 and the Chevrolet Bolt EV if the upcoming Volvo EV adds to the picture, among other EVs already in the market. Stay tuned for more updates on Volvo's first full EV.