Volvo EX60 set to arrive as new Tesla Model Y, Porsche Macan luxury electric SUV rival

A new all-electric luxury SUV is set to hit the market next year to compete with Tesla’s best-selling Model Y. Volvo is joining the luxury electric SUV market with its new EX60 launching next year. The new EX60 will rival premium models from Tesla, Porsche, BMW, and Mercedes-Benz.

As one of the first legacy automakers to commit to an all-electric future, Volvo is seeing the results.

After launching its most affordable EV, the EX30, last year, Volvo’s compact electric SUV is already making a significant impact on the company.

Volvo set a new sales record in the first three months of the year with growing demand for its electric models. Fully electric vehicles accounted for over 40% of sales in 19 markets. That’s up from 13 in Q4 2023.

According to Volvo Cars’ chief commercial officer and deputy CEO, the EX30 is helping boost sales. Volvo’s EV sales share hit a record 21% in Q1, with 14,500 EX30 models sold. This was enough to top the EC60 (6,000) while inching closer to the EX40 (17,400).

Volvo also began production of its first electric minivan, the EM90, for China. Deliveries began in March. Meanwhile, Volvo is preparing to launch its larger EX90, which is already attracting Ferrari-like wait times.

Volvo EX60 to launch as the latest luxury electric SUV

Volvo looks to keep the momentum rolling next year with its new EX60 expected to debut as an all-electric replacement to the hybrid XC60 Recharge.

The new EV will compete against premium SUVs like the Tesla Model Y, Porsche Macan EV, and Mercedes-Benz EQC. It will sit between the EX40 and EX90 in Volvo’s expanding EV lineup.

According to Auto Express, the new Volvo electric SUV will be based on the larger EX90’s platform, which could pack up to 100 kWh of battery power. Erik Severinson, chief product and strategy officer at Volvo Cars, calls it an “evolution of the Volvo-developed platform.”

Volvo’s EX60 is expected to maintain the brand’s new design elements, such as its Thor Hammer LED headlights, closed grille, and alloy wheels.

At least one thing remains a mystery. Volvo did not confirm if the EX60 would include advanced LIDAR like the EX90. However, Severinson said the brand is exploring “different kinds of sensors going forward.”

The EX60 will feature a new “structural” battery pack, similar to BYD and Tesla. The design leads to “improved energy density” and “great driveability.”

According to the report, the EX60 could feature up to 400 miles WLTP range. The EX90, with a 107 kWh battery pack, offers up to 364 miles. However, the EX60 is expected to feature a smaller, lighter battery with improved energy density.

Volvo is moving to use a megacasted rear underfloor for the EX60, a concept used by Tesla, NIO, XPeng, and others. According to Volvo, the new floor design weighs 15 to 20% less than a traditional stamped equivalent.

The method will also increase storage space while speeding up production times. Volvo is expected to launch the EX60 when megacasting production begins next year.

We could see the Volvo EX60 unveiled by the end of the year, with prices and specs arriving at a later date. Check back for more details soon.