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Volvo Claims Second EV Will Arrive in 2021

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【Summary】The automaker’s all-new electric vehicle will arrive on March 2 and will share the same platform as the XC40 Recharge.

Original Vineeth Joel Patel    Dec 27, 2020 8:25 AM PT
Volvo Claims Second EV Will Arrive in 2021

Volvo's not joking around when it comes to electric vehicles. The automaker currently offers eight plug-in hybrid models and one fully-electric vehicle. The brand's high-performance Polestar arm offers an additional two EVs. Volvo recently announced that it wants to manufacture its electric motors in-house without any assistance from suppliers as a way to meet its goal of having 50 percent of sales come from fully electric vehicles by 2025. To get to that point, the automaker will need a lot more EVs, which is why it plans to introduce its second electric car next year.

Second EV Coming Soon

In an interview with Automotive News Europe, Volvo CEO Hakan Samuelsson told the outlet that its second battery-powered vehicle will arrive in March 2021. The vehicle is expected to be unveiled on March 2. At the same time as the release of the new vehicle, Volvo will also announce some more information on its plans for electrification. While we don't know a lot about the upcoming electric vehicle, we know that it will utilize the same platform – the compact module architecture (CMA) – as the XC40 Recharge.

"We will keep you a bit in the dark until we show the car, but I promise you it will be a very good-looking car," Samuelsson told the outlet. When the CEO was asked on whether the upcoming EV would replace the discontinued V40, he stated: "For Volvo to be profitable we need to focus on higher price, more premium car segments." From that answer, it sounds like a no.

Design Plays A Large Role

It's difficult to say exactly what Volvo is working on. In 2016, the automaker unveiled the 40.1 and 40.2 concepts as teasers for its electrified future. The 40.1 eventually turned into the XC40 Recharge, while the 40.2 went on to become the Polestar 2. The automaker also sells the high-performance Polestar 1, which leads us to believe that another SUV is possible. In the U.S., SUVs continue to be insanely popular and automakers continue to enter the segment with new options, like Ford with the Mustang Mach-E and Rivian with the R1S.

The only information that Samuelsson did provide is that the EV would be "more streamlined" than the current XC40. That could mean a lot of things. The XC40 has a boxy design for a subcompact SUV, so it's possible that Volvo could move toward a coupe-like SUV – similar to what Audi did with the e-tron and e-tron Sportback.

Either way, we're excited to see what Volvo introduces next March. The all-electric XC40 Recharge is a great attempt at a mass-market EV for the automaker, as it offers $208 miles of range, has decent performance, and is reasonably priced at $54,985. Its SUV body also gives consumers an extra level of versatility. Unfortunately, we're going to have to wait a few months to see what Volvo has in store.

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