EX30 SUV will not only offer smaller dimensions but also Volvo’s lowest carbon footprint
Two weeks before the public gets its official debut of the upcoming EX30 small SUV, Volvo continues to trickle new tidbits of information to us to build anticipation. This morning, the automaker shared that the upcoming SUV represents its lowest total carbon footprint to date, reducing its environmental impact by a huge fraction compared to its current EV models.
It’s only been 14 days since Volvo began teasing the debut (and the compact size) of its latest model, dubbed the EX30. So far, we know the small SUV will be targeted toward a younger demographic, those who prefer to shop online.
Volvo Cars CEO Jim Rowan previously relayed the new SUV would arrive at a “really nice price point” for an entry-level EV that will be smaller than a C40 Recharge with a decent range. Rowan also described the EX30 as “very safe,” a factor Volvo elaborated further upon last week.
The automaker said the small SUV was designed with the safety we’ve come to expect from Volvo, with an added focus on protection for people inside and out of the EV in crowded city settings. While Volvo takes pride in its reputation for safety, it is also working to establish itself as a leading automaker in sustainability, vowing to go all-electric and become entirely carbon neutral by 2040.
Today, Volvo is touting a large breakthrough in reducing CO₂ emissions throughout an EV’s entire life cycle as the EX30 SUV will arrive as its lowest carbon footprint vehicle to date.
According to an update from Volvo Cars early this morning, it has successfully lowered the emissions across the production and estimated life cycle (200,000 km or 125k miles) to under 30 tons (based upon usage of charging electricity from the EU27 electricity mix).
Volvo states this is a 25% decrease in overall CO₂ emissions compared to its C40 and XC40 Recharge EVs. The automaker also says this decrease shows tremendous progress in lowering carbon emissions per car by 2025. Volvo Cars’ global head of sustainability, Anders Kärrberg, elaborated:
Our new EX30 is a big step in the right direction for our sustainability ambitions. By 2025, we aim to reduce our overall CO₂ emissions per car by 40 percent from 2018 levels through a 50 percent reduction in overall tailpipe emissions, and a 25 percent reduction in emissions from our operations, raw material sourcing and supply chain–all on the way towards our ambition of being a climate neutral company by 2040.
So how was Volvo able to cut the emissions of its upcoming small SUV by a quarter? First, a smaller vehicle requires less material – that’s an easy one – but the automaker also used less steel and aluminum in the EX30 while prioritizing more recycled materials. Volvo says about 25% of the aluminum and 17% of the steel used to produce the SUV is recycled.
Additionally, roughly 17% of all plastics inside and out of the car are recycled and tally together as the highest percentage in any Volvo vehicle to date. Lastly, the EX90 will be assembled in a facility that is powered by high levels of climate-neutral energy, including 100% climate-neutral electricity.
With 95% of Volvo’s Tier 1 suppliers already committed to using 100% renewable energy in their production by 2025, Volvo’s sustainability will continue to expand beyond its own walls, paving the way for future EVs that will produce even fewer carbon emissions across their entire life span.
The Volvo EX30 small SUV is scheduled to make its global debut on June 7. Be sure to check back with Electrek for the latest news surrounding this new EV model.
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The Stripe logo on a smartphone with U.S. dollar banknotes in the background.
Budrul Chukrut | SOPA Images | LightRocket via Getty Images
Stripe cut 300 jobs, representing about 3.5% of its workforce, mostly in product, engineering and operations, CNBC has confirmed.
The payments company, valued at about $70 billion in the private markets, still expects to increase headcount by 10,000 by the end of the year, which would be a 17% increase, and is “not slowing down hiring,” according to a memo to staff from Chief People Office Rob McIntosh. Business Insider reported earlier on the cuts and the memo.
A Stripe spokesperson also confirmed to CNBC that a cartoon image of a duck with text that read, “US-Non-California Duck,” was accidentally attached as a PDF to emails sent to some of the employees who were laid off. Some of the emails mistakenly provided affected employees with an incorrect termination date, the spokesperson said.
McIntosh sent a follow-up email to staffers apologizing for the “notification error” and “any confusion it caused.”
“Corrected and full notifications have since been sent to all impacted Stripes,” he wrote.
In 2022, Stripe cut roughly 1,100 jobs, or 14% of its workers, downsizing alongside most of the tech industry, as soaring inflation and rising interest rates forced companies to focus on profits over growth. The Information reported that Stripe had a few dozen layoffs in its recruiting department in 2023.
Stripe’s valuation sank from a peak of $95 billion in 2021 to $50 billion in 2023, before reportedly rebounding to $70 billion last year as part of a secondary share sale. The company ranked third on last year’s CNBC Disruptor 50 list.
In October, Stripe agreed to pay $1.1 billion for crypto startup Bridge Network, whose technology is focused on making it easy for businesses to transact using digital currencies.
Brothers Patrick and John Collison, who founded Stripe in 2010, have intentionally steered clear of the public markets and have given no indication that an offering is on the near-term horizon. Total payment volume at the company surpassed $1 trillion in 2023.
WATCH: Early Bridge investor weighs in on $1.1 billion Stripe deal
Thinking about upgrading your EV? Rivian (RIVN) launched a new promo on Tuesday, offering up to $6,000 to upgrade your R1S or R1T. Here’s how you can snag some savings.
Rivian R1S and R1T upgrade deal offers up to $6,000
Rivian delivered over 51,500 vehicles last year as the EV maker gains momentum. Although it was only slightly higher than the ~50,100 delivered in 2023, Rivian is expected to see even more growth this year.
After shutting down its Normal, IL manufacturing plant last April and renegotiating supplier contracts, Rivian has seen “significant cost improvements,” according to CEO RJ Scaringe.
Rivian also began delivering its next-gen R1S and R1T models last year. The new Large and Max battery packs have redesigned modules and more efficient packaging, “making them easier to manufacture and service.” For example, Rivian’s new EVs use seven ECUs, down from 17 in the first-generation R1T and R1S.
With new plant upgrades, reworked supplier contracts, and more efficient vehicles, Rivian is now passing the savings on to customers.
Rivian introduced a new promo on Tuesday, offering up to $6,000 to upgrade your R1T or R1S. The bonus amount varies by trim:
- Tri with Max battery: $6,000 USD / CAD 8,600
- Dual with Max battery and Performance upgrade: $4,500 USD / CAD 6,500
- Dual with Max battery: $3,000 USD / CAD 4,300
The offer is for current R1T or R1S owners or lessees in the US and Canada. Rivian launched the new promo on January 21, and it runs through March 31, 2025.
After you purchase or lease a qualifying vehicle, Rivian will apply a discount toward the MSRP. You must take delivery by March 31, 2025. In the fine print, Rivian stated, “You must request a trade-in estimate to qualify for this offer, but trade-in of a vehicle is not required.”
Any other models are excluded from the offer. These include Dual Standard configurations, Dual with Large battery configurations, custom builds, demo vehicles, and pre-owned vehicles.
The new offer follows Rivian’s previous upgrade promo introduced last October, giving qualifying gas-powered vehicle owners or lessees up to $3,000.
Check out the Rivian R1 Shop to view eligible models. You can see eligible Rivian R1S here and R1T models here.
Electrek’s Take
Rivian’s R1S was already the tenth best-selling electric vehicle in the US last year, with nearly 27,000 models sold. With more driving range and power at a lower cost, the electric SUV could see even more demand in 2025.
Then again, with the arrival of new luxury electric SUVs, like the Jeep Wagoneer S and Volvo EX90, Rivian will face more competition in the US.
Rivian’s latest promo comes as the Company looks to carry the momentum from the end of 2024 into the new year. The EV maker is offering other deals, including 1.99% APR for 60 months on the R1 Dual with a Max Battery and Performance upgrade.
Even if you are not eligible for the promo, we can still help you find deals on Rivian’s electric SUV in your area. You can use our links below to view offers on the Rivian R1S and R1T near you today.
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