Finance
Volvo Cars Says Demand for New EX60 Electric Suv Exceeds Expectation
Published by Global Banking & Finance Review®
Posted on April 22, 2026
2 min readLast updated: April 22, 2026
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Volvo Cars kicked off production of its flagship electric SUV, the EX60, at its upgraded Torslanda plant. Demand has outpaced expectations, prompting the possibility of an extra week of summer production to meet strong European orders.
Volvo Cars says demand for new EX60 electric SUV exceeds expectations
Volvo EX60 Electric SUV Production and Market Response
By Marie Mannes
GOTHENBURG, Sweden, April 22 (Reuters) - Volvo Cars expects to build up to 40,000 of its new flagship electric model this year, with demand exceeding initial expectations, its CEO told Reuters as the automaker started production of the EX60 SUV in Sweden on Wednesday.
Volvo, which unveiled the model in January, said it is considering adding an extra week of production during the summer to meet demand.
Customer Demand and Sales Outlook
"Interest has been above our planned order intake, higher than planned ... so at least we know we have the customers ... the challenge is now on delivering, not selling," CEO Hakan Samuelsson told Reuters.
The production launch sets Volvo apart from several rivals that have scaled back electrification plans, cancelled electric models or revived diesel offerings as demand softens in parts of the market.
Pricing Strategy and Market Position
HYBRID PRICE POINT
Targeting Hybrid Buyers
Chief Commercial Officer Erik Severinson said Volvo was aiming to price the EX60 at roughly the same level as the plug-in hybrid version of the model.
"That budget we know they have for a plug-in hybrid. And if we can hit that price point with EX60 ... we will have customers," he said.
High prices have been a major obstacle to wider EV adoption, while lower-priced hybrids have gained traction as a bridge between combustion-engine and fully electric cars.
Production Platform and Technological Advancements
NEW PRODUCTION PLATFORM
Factory Upgrades and Ramp-up
The EX60 SUV is the first model built on Volvo Cars' new production platform, which has required extensive changes to its Torslanda factory in western Sweden.
"This is an all-new car introducing new technology .... Now that has to be ramped up to a very high pace from zero," Samuelsson said.
Challenges with Previous EV Models
Volvo has launched several EV models in recent years, but deliveries have been hindered by problems affecting the smaller EX30 and the larger EX90, including software glitches, supply-chain constraints and tariff-related delays.
Order Availability and Future Prospects
Order books in Europe are open, and are expected to open in the U.S. during the spring, the company said.
(Reporting by Marie Mannes, writing by Greta Rosen Fondahn. Editing by Terje Solsvik and Mark Potter)
Key Takeaways
- •EX60 orders in Europe have significantly exceeded Volvo’s forecasts, with over 3,000 orders in Sweden within a month of its reveal. (motorspec.net)
- •Volvo may keep the Torslanda factory open an additional week during the summer—an unprecedented move in the plant’s history—to ramp up production. (volvocars.com)
- •The EX60 is the first Volvo built on the ground-up electric SPA3 platform, featuring megacasting and cell‑to‑body construction at Torslanda, following a SEK 10 billion industrial overhaul. (en.wikipedia.org)
References
Frequently Asked Questions about Volvo Cars says demand for new EX60 electric SUV exceeds expectation
1How many Volvo EX60 electric SUVs does the company expect to produce in 2024?
Volvo Cars expects to build up to 40,000 units of the new EX60 electric SUV in 2024.
2Why is Volvo considering adding extra production capacity for the EX60?
Due to higher-than-expected customer interest, Volvo may add an extra week of production capacity to handle increased orders.
3When did Volvo Cars unveil the EX60 electric SUV?
Volvo Cars first unveiled the new EX60 electric SUV in January 2024.
4Where is the Volvo EX60 being produced?
The Volvo EX60 is produced at the Torslanda factory in western Sweden.
5When will ordering for the Volvo EX60 SUV open in the United States?
Order books for the EX60 are expected to open in the United States during the spring of 2024.