GOTHENBURG, SWEDEN – Volvo Cars has confirmed that a new, more affordable electric SUV is on the way. In its third-quarter 2026 report, the Swedish brand said it will introduce its “next global BEV car” in 2027, aimed at “a large, lower priced market segment in Europe”, with first customer deliveries starting after the summer. The car is widely expected to be called the Volvo EX50, a name Volvo registered earlier this year.
Volvo says the new model should “further strengthen BEV leadership and improve margins”, which makes it one of the most important cars in the company’s plans at a time when it needs a win.
Where the EX50 fits
The new car is set to slot between the compact EX40 and the new mid-size EX60. It was originally conceived as a replacement for the EX40, but Volvo has since scaled back its plan to go fully electric, so the EX40 and the revised XC40 will stay on sale alongside it. That leaves the EX50 to target the heart of the European family-car market: buyers who want a premium electric SUV with more space than an EX40 but a lower price than an EX60.
That segment is fiercely contested. The EX50’s rivals will include the Tesla Model Y, Audi Q4 e-tron, Skoda Enyaq and Hyundai Ioniq 5, as well as a growing number of Chinese electric SUVs such as the BYD Sealion 7.
EX60 technology at a lower price
Volvo has not released technical details, but the EX50 is expected to borrow heavily from the EX60. That means the SPA3 platform, a truly software-defined architecture that uses large single-piece castings and cell-to-body battery packaging, where the battery cells form part of the car’s structure. An 800-volt electrical system is also expected, allowing very fast charging.
For reference, the EX60 offers battery options of up to 117 kWh, a WLTP range of up to around 800 km (503 miles) and peak charging speeds of up to 370 kW, enough for a 10 to 80 percent top-up in around 16 minutes. The EX50 is likely to have a shorter wheelbase, so the largest battery may not fit, but single-motor and dual-motor versions are expected.
Inside, the EX50 should follow the EX60 with a large horizontal touchscreen, Volvo’s latest software with built-in Google services and an AI voice assistant. Design is expected to be more family-focused than the sleek EX60, with Volvo’s “Thor’s Hammer” headlight signature reinterpreted and upright rear lights in the brand’s tradition.
Built in Slovakia
The most likely home for the EX50 is Volvo’s new electric-car factory near Košice in Slovakia, which can build up to 250,000 cars a year and is also due to build the Polestar 7. Building the car close to its main European market should also help keep the price competitive. Industry estimates put the starting price at just under £50,000 in the UK, between the EX40 and the EX60.
Three new cars in 2027
The EX50 is part of a wider product push. Volvo said it will reveal three new cars in 2027: one new car for Europe and two China-specific models. The first two of six China-tailored cars, developed with Geely, will be revealed and enter production in mid-2027.
The EX60 itself is proving popular, with more than 50,000 orders in Europe. However, Volvo admitted that production is ramping up more slowly than planned because of the new industrial technology behind it, including cell-to-body construction.
Filling a gap in the line-up
Volvo’s electric range already stretches from the compact EX30 to the seven-seat EX90 flagship, with the EX40, the new EX60 and the ES90 saloon in between. Yet the biggest-selling part of the European market, mid-size family SUVs at a sensible price, is where Volvo has been weakest against Tesla and the Volkswagen Group. The EX50 is designed to close that gap with a car that offers the technology of the EX60 in a slightly smaller, cheaper package. If Volvo gets the price right, it could become one of the brand’s best-sellers.
A tough quarter for Volvo
The announcement came alongside difficult financial results. Revenue fell to SEK 66.9 billion, from SEK 86.4 billion a year earlier, and the company posted an operating loss (EBIT, excluding joint ventures and one-off items) of SEK 3.7 billion, a margin of minus 5.6 percent. On the positive side, fully electric cars made up 32 percent of sales, up from 22 percent a year earlier, and electrified models reached 53 percent.
“We need to reinforce our turnaround plan with additional decisive actions.”
Håkan Samuelsson, Volvo Cars CEO
Against that backdrop, a well-priced electric SUV built in Europe could be exactly what Volvo needs. In the Middle East, where Volvo’s SUVs have a loyal following, the EX50 would also give buyers a more affordable route into the brand’s latest electric technology, although regional plans have not been announced.
Volvo EX50: what we know
- Confirmed: New global electric car for a large, lower-priced European segment
- Timing: Introduced in 2027, deliveries from after summer 2027
- Position: Between the EX40 and EX60
- Expected: SPA3 platform, 800V, built in Slovakia, just under £50,000
- Rivals: Tesla Model Y, Audi Q4 e-tron, Skoda Enyaq, Hyundai Ioniq 5
Photos show the Volvo EX60, the EX50’s bigger sister model; Volvo has not yet released images of the EX50.