The Volvo EX60 is the Swedish automaker’s latest all-electric SUV and represents a pivotal shift in its strategy. With a reported range of up to 503 miles, it addresses a major consumer concern – range anxiety – head-on. The EX60 isn’t merely an electric vehicle; it’s the first model built on Volvo’s new SPA3 platform, designed specifically for EVs and promising significant improvements in performance, cost, and safety.
Introducing the SPA3 Platform
The SPA3 platform is a game-changer because it’s engineered from the ground up for electric vehicles. Unlike previous platforms adapted for EV use, SPA3 allows Volvo to optimize every aspect of the car without compromise. This includes using advanced battery technologies, next-generation motors, and radical new production methods such as mega-casting. Mega-casting involves forming large structural parts from molten metal in a single piece, reducing the need for welding or bolting. This simplifies production, lowers costs, and enhances structural integrity.
The platform’s modularity is also key; it can accommodate vehicles ranging in size from the compact EX30 to the larger EX90, meaning future Volvo EVs will share a common architecture, streamlining development and production. The EX60’s design will be shared across other Geely-owned brands, like the upcoming Polestar 7 crossover.
Market Position and Pricing
The EX60 enters a competitive segment, directly challenging rivals like the BMW iX3 and Mercedes-Benz GLC EQ. Pricing in the UK starts at £56,850, rising to £70,360 for higher trims. Despite the shift towards EVs, Volvo isn’t abandoning internal combustion engines entirely. CEO Håkan Samuelsson confirmed that hybrid and plug-in hybrid models will remain available “as long as needed” to accommodate consumer demand.
Volvo now has margin parity between its ICE and EV cars, meaning the company can push electric models without losing profits. This flexibility is a key part of the company’s wider electrification strategy.
The Future of Volvo’s Electric Lineup
The EX60’s launch demonstrates Volvo’s full commitment to EVs. The SPA3 platform will underpin all future dedicated electric models from the brand. The EX60 is not just another electric SUV; it’s a statement of intent. Volvo is betting on a future where EVs dominate, and the EX60 is the first step towards realizing that vision.
The new platform is a crucial foundation for Volvo’s all-electric push, but the company remains pragmatic in its approach, ensuring existing customers are not left behind. This strategy allows Volvo to accelerate EV adoption without alienating those who prefer traditional powertrains.
