Volvo To Release 250-Mile-Range Electric Vehicle For As Low As US$35,000

Mar 15, 2017 06:42 AM EDT | JP Olvido

Volvo confirmed it has plans to release an all-electric vehicle in 2019 in the previous month. It promised that the vehicle will come in different battery packs of up to 100 kWh. Now, the company announced new plans which involve selling the vehicle in the United States for around US$35,000 to US$40,000.

Swedish car manufacturer to sell its planned all-electric vehicle for as less as US$35,000 in the US. The starting price of around US$35,000 to US$40,000 for its first electric vehicle is an aggressive move on the company's part as other car companies are also entering or planning to enter the market of electric vehicles for the first time. The aggressive price tag came with a promise of at least 250 miles of range.

 Volvo Car USA CEO Lex Kerssermakers confirmed this at the Geneva Auto Show. Speaking about the new plans, Kerssermakers said, "That is what I put in as the prerequisite for the United States. If I want to make a point in the United States, if I want to make volumes, that's what I believe I need."

The price tag and the mile range that the company has planned for its first electric vehicle will prove to be a tough competition for Chevrolet Bolt and the upcoming Tesla Model 3. The price tag will, of course, put the vehicle on the lower end of the car line-up of Volvo.

Two electric concept vehicles were unveiled by the company last year namely the Concept 40.1 and 40.2. The former is an SUV that is expected to compete with Tesla's Model Y. The latter is expected to go head-to-head with the Tesla Model 3. However, the Swedish car manufacturer only has plans to release one vehicle. It does have plans to aggressively ramp up and eventually reach a fleet of over 1 million electric vehicles by 2025 worldwide.

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