In the face of suggestions about a “lack of EV demand,” Volvo CEO Jim Rowan dismisses the notion, emphasizing that the company’s new electric models, including the C40 compact SUV and the recently introduced EX30 crossover, continue to drive substantial sales.
Volvo, an early advocate for an all-electric future by 2030, stands by its commitment, with Henrik Green, Volvo CTO in 2021, asserting, “There is no long-term future for cars with an internal combustion engine.” Despite challenges such as rising interest rates and inflation, Volvo anticipates “strong double-digit” sales growth in the current year, attributing a significant portion of this success to the increasing demand for EVs, particularly the C40 compact SUV and the recently introduced EX30 crossover.
Speaking to Automotive News, Rowan expresses confidence in the potential of the new EX30, anticipating “reasonably decent volumes” for Volvo in the coming year. With a full year of EX30 sales, Volvo envisions growth in 2024. Priced at $34,995, the EX30 aims to attract younger buyers, positioning itself as one of the more affordable EVs in the market.
Volvo is also set to launch its flagship EX90, a premium three-row electric SUV with a range of up to 300 miles. The EX90, slated to go on sale in the US next year starting at under $77,000, adds to Volvo’s ambitious plans for a fully electric lineup.
Addressing concerns about a purported “slowdown” in EV demand globally, Rowan refutes such claims, stating, “We are not seeing any order cancellations or any slowdown in order intake.” This holds even in the US market, where orders for the C40 and EX30 remain “strong.” Rowan assures that Volvo is well-prepared for any potential slowdown but emphasizes, “that is not the case now.”
On the road to achieving its goal of going all-electric by 2030, Volvo remains optimistic. Rowan highlights the positive feedback from EV buyers who appreciate the driving experience and the convenience of home charging. He believes the company is “on course” and well-positioned to meet its ambitious targets.
In response to negative coverage on EVs, Rowan underscores the importance of disregarding such “static,” pointing out that “some players have proved that electrification has allowed them to create a massive market capitalization.” He asserts that the technology has been proven and is selling abundantly.“
