Volvo Plans a Large, Lower-Priced Electric Car for Europe, Due in 2027
Volvo Cars has confirmed a new electric model for Europe that will sit below the EX60 and target what the company calls a "large, lower-priced market segment". The car will be revealed in 2027, Volvo said with its third-quarter results on 23 October 2026. Media reports call it the EX50, but Volvo has not confirmed the name.
Key takeaways
- Volvo will reveal three new cars in 2027: one for Europe and two models for China.
- The European car is a "global BEV" positioned below the EX60; the EX50 name is not official.
- It is expected to use the 800-volt SPA3 platform of the EX60, with deliveries after summer 2027 according to reports.
- In Q3 2026 Volvo posted an operating loss and announced about 2,500 job cuts worldwide.
What Volvo has confirmed
The new model is part of Volvo's plan to launch 13 new cars by the end of 2030. In its results statement the company said the car should "further strengthen BEV leadership and improve margins". Volvo did not give a price, a size or technical details.
| Parameter | Value |
|---|---|
| Announced | 23 October 2026 (Q3 results) |
| Position | Below the EX60, large lower-priced segment |
| Reveal | 2027 |
| Name | Not confirmed (media: EX50) |
| Expected platform | SPA3, 800 V (reported) |
| Likely plant | Kosice, Slovakia (reported) |
Expected technology
Auto Express and electrive both expect the new car to use SPA3, the platform that made its debut with the Volvo EX60 in early 2026. SPA3 has an 800-volt system and a cell-to-body battery that forms part of the car's structure. Volvo assembles the packs itself from prismatic NMC cells and gives a ten-year battery warranty.
Production is expected at Volvo's new electric car plant near Kosice in Slovakia, which is designed for up to 250,000 cars a year. Auto Express expects a length of about 4.6 to 4.7 metres, which would place the car between the EX40 and the EX60 and make it a direct rival to the Tesla Model Y.
Why Volvo needs it
Electric cars made up 45 % of Volvo's European sales in the third quarter, and the EX60 has collected more than 50,000 European orders. But the cell-to-body design is slowing the EX60 production ramp-up, and sales in China fell by almost half.
Volvo reported an operating loss for the quarter, with an EBIT margin of minus 5.6 %. It announced a new cost-saving programme, about 2,500 job cuts worldwide, 2,000 of them in Sweden, and investment about 30 % below the 2024 level. Production will be concentrated in five core plants, and Volvo is looking at shared assembly with parent company Geely at Chengdu and Ghent.
A cheaper SPA3 model built in Europe is meant to bring volume back. Until then, the EX30 remains Volvo's entry point to electric driving.
Sources
- electrive: Large and affordable, Volvo announces new volume model for Europe (accessed 26 Oct 2026)
- Auto Express: New Volvo EX50 to mix EX60 tech with 'lower price' from 2027 (accessed 26 Oct 2026)
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