When Volvo announced their intentions of developing an all-electric car, there were plenty of questions surrounding their move. It was unclear whether the electric vehicle will carry a premium over Volvo’s lineup, and would it have enough range to compete with the top of the line electric vehicles on the market.
As reported by Engadget, the answer to both questions is yes. Company’s CEO Lex Kerssmakers reported that the vehicle is likely to debut in 2019, and it will be priced between $35,000 and $40,000. On top of that, the electric vehicle should have at least a 250-mile range. With these specs, Volvo puts their car directly against the mainstream EVs like the Chevy Bolt and Tesla Model 3. Currently, the company is silent about the finer details of the car, but the price and range suggest that the vehicle is more likely to be a sedan than either an SUV or a compact car like the old C30 Electric concept. Developing an electric vehicle should increase the success in the company’s home country, as Tesla’s sales are increasing year after year.
According to Auto News, the company plans to decide in the coming months whether it will use an existing nameplate or a standalone model for its first electric vehicle. This leaves Volvo with a very little time to develop the vehicle and get it to market. However, Volvo’s CEO Lex Kerssmakers is confident enough that Volvo’s modular platform would allow them to meet the schedule.
Volvo’s scalable product platform underpins their current XC90 crossover, its 90 series sedan and wagons, and the redesigned XC60 that debuted this year in Geneva. Scalable product platform was developed and produced by Volvo in 2014 when their second-generation Volvo XC90 was released. Volvo claims that the platform enables significant improvements when it comes to offering protection in worst-case scenarios and when creating innovative features that support the driver in avoiding accidents. Regardless of the vehicle’s size, it has to have a sufficient range if Volvo wants to be competitive.