Volvo has recently announced significant price cuts on its popular EX30 and EX40 electric SUVs in Australia, aiming to boost competitiveness as the electric vehicle (EV) market heats up. The reductions come ahead of the anticipated arrival of the new mid-size Volvo EX60 SUV, expected to launch in late 2026 or early 2027. The price adjustments are substantial, with the EX30 now starting at $49,990 before on-road costs—a $10,000 drop from previous pricing. Similarly, the EX40’s price has been lowered by $7,000 across its range, starting at $69,990.
The Volvo EX30 is the brand’s entry-level electric SUV and comes with a single-motor rear-wheel-drive powertrain producing 200 kW of power and a 69 kWh battery. It offers an impressive electric range of up to 462 kilometers under the WLTP cycle. Customers can choose between Plus and Ultra trim levels, while the more rugged EX30 Cross Country features a dual-motor all-wheel-drive setup delivering 315 kW and a slightly reduced range of 417 kilometers. Notably, the dual-motor option is now only available in the Cross Country variant following the retirement of the Twin Motor Performance model.
The larger EX40, previously known as the XC40 Recharge, offers either a single-motor rear-wheel-drive version with 185 kW or a dual-motor all-wheel-drive variant with 300 kW. Both models use an 82 kWh battery pack with WLTP ranges of 520 kilometers and 485 kilometers respectively. These updated prices are part of Volvo’s strategy to reposition its smaller EV models as it prepares to introduce the game-changing EX60 mid-size SUV.
This pricing shift arrives amid growing competition in the affordable EV segment, where brands like Nissan and Chevrolet also offer compelling models. For instance, Nissan’s third-generation Leaf remains a popular choice for buyers seeking familiarity and practicality at a starting price near $29,990. Meanwhile, Chevrolet’s revived Bolt EV offers competitive range and charging capabilities starting at $27,500.
Volvo’s approach with the EX30 emphasizes modern design and performance with an upscale yet minimalist interior that features recycled materials and advanced technology like a central touchscreen running Google-based software. While some drivers may find the touchscreen-heavy controls challenging, many appreciate its Scandinavian simplicity and sharp handling.
The price reductions on Volvo’s electric SUVs reflect a broader trend in the automotive industry as manufacturers strive to make EVs more accessible while enhancing features such as range, charging speed, and overall value. With these changes, Volvo aims to maintain its foothold in a rapidly evolving market while preparing for future launches that could reshape consumer expectations for electric mid-size SUVs.
