Volvo to add new EV model to S. Korean lineup

Corporate Newsroom 11:28 September 15, 2023

SEOUL, Sept. 15 (Yonhap) -- Sweden-based carmaker Volvo Cars said Friday it is planning to unveil its all-new electric 'EX30' SUV in South Korea in November as it strives to strengthen its EV lineup.

The EX30 compact SUV is Volvo's fourth battery-powered model after the C40 Recharge crossover, XC40 Recharge SUV and EX90 seven-seater SUV.

Volvo introduced the EX30 in Europe and the United States in June, and began to receive preorders. It plans to receive preorders in Korea in November as the car's production kicks off later this year, the company said in a statement.

The delivery of EX30s will begin in global markets early next year, it said, adding the new model's prices and other details will be released later.

Currently, the C40 Recharge and the XC40 Recharge are two available pure electric models from the Volvo brand in Korea. Gasoline models include the S60 and S90 sedans, and the XC40, XC60 and XC90 SUVs.

Volvo sold a total of 14,431 vehicles in Asia's fourth-biggest economy last year, and it is "on track" to achieve its sales goal of 17,500 units for this year.

To further boost its sales, Volvo Car Korea Co. plans to bring in the EX90 flagship SUV next year.

Volvo Cars plans to release seven zero-emission models by 2030 as it aims to become fully electric by 2030 and become carbon neutral by 2040.

A company is carbon neutral if it balances the carbon dioxide it releases into the atmosphere through its everyday activities with the amount it absorbs from the atmosphere.

Volvo Cars is the parent firm of Volvo Car Korea. Volvo Cars is 82 percent owned by Geely Automobile Holdings, China's largest privately owned automotive group.