Volvo reveals $28,000 EX30 starting price in China as low-cost BYD rival
The cheapest Volvo EV so far was officially launched in China over the weekend. Volvo launched the EX30 in China with a low starting price of $27,800 (200,800 yuan) as the automaker takes on BYD head-on in its home market.
In the first quarter of the year, “thousands of customers across Europe got behind the wheel of an EX30,” as Volvo gears up to begin deliveries in key markets, including the US, China, and South Korea.
Volvo is preparing to launch its low-cost EV in over 90 countries by the end of 2024. Although the EX30 is already living up to its promise as a profitable growth driver, Volvo expects even more.
EX30 production began last fall in Zhangjiakou, China, as Volvo prepares to launch an EV offensive. To meet the growing demand for affordable EVs in Europe, Volvo announced it would build the EX30 at its Ghent Plant in Belgium from 2025.
Volvo’s EX30 led to a new global sales record in Q1, but the automaker expects even bigger results as its low-cost EV hits the world’s largest electric car market.
Volvo EX30 price revealed in China starting at $27,800
Volvo officially launched the EX30 in China on Sunday with a starting price of 200,800 yuan ($27,800).
The base RWD core model features up to 410 km (255 miles range). It’s available in four trims: RWD Core, RWD Long Range Plus, RWD Long Range Ultra, and a high-performance AWD Ultra model.
| Volvo EX30 trim | Range (CLTC) |
Starting Price |
| RWD Core | 255 mi (410 km) | $27,800 (200,800 yuan) |
| RWD Long Range Plus | 366 mi (590 km) | $30,300 (219,800 yuan) |
| RWD Long Range Ultra | 366 mi (590 km) | $32,100 (232,800 yuan) |
| AWD High-Performance Ultra | 335 mi (540 km) | $35,400 (255,800 yuan) |
Powered by either a 49 kWh lithium-ion (RWD Core) or 66 kWh ternary lithium battery, the EX30’s fastest recharge time (10% to 80%) is 26 minutes.
You can see Volvo included new signature design elements like Thor Hammer LED headlights and a closed grille.
The China-made EX30’s rear features the logo “Volvo Asia Pacific,” which indicates where it was built.
Inside, you will find a modern, simplistic layout. Included is a 12.3″ vertical infotainment with hidden air conditioning units. The three-spoke steering wheel includes touch controls for key features. In addition, Volvo used environmentally friendly recycled materials like flax fiber and denim.
At 4,233 mm long, 1,838 mm wide, and 1,555 mm tall, the EX30 will rival BYD’s best-selling Atto 3 SUV (4,455mm X 1,875 mm X 1,615 mm) and Dolphin (4,290 mm X 1,570 mm X 1,770 mm) electric hatch in China.
Electrek’s Take
BYD was the best-selling car brand in China last year after overtaking Volkswagen. After slashing prices and declaring a “liberation battle” against ICE vehicles, BYD hit a new weekly sales record in China earlier this month.
Through May 12, BYD had over 101,300 registrations in China, outpacing rivals Tesla, Li Auto, NIO, and XPeng.
Its cheapest EV, the Seagull Honor Edition, now starts at just $9,700 (69,800 yuan). Perhaps, more importantly, BYD is expanding into new segments like luxury and mid-size SUVs.
BYD launched the Sea Lion 07, its first “mid-size urban smart electric SUV,” this month, undercutting Tesla’s Model Y with starting prices of $26,250 (189,800 yuan).
Volvo is also gearing up for an EV offensive, with its EX30 rolling out into new markets. The EX30 will start at $34,950 (plus a $1,295 delivery fee) in the US, and deliveries are expected to begin this summer.
The company is also launching its first three-row electric SUV, the EX90. In China, Volvo began production of its first luxury electric minivan, the EM90.
Volvo’s lineup will include the EX30, EX40, EC40, EM90, and EX90. With the launch of new EVs, Volvo expects demand to “remain robust” over the next few quarters.
Can Volvo’s new EX30 help it keep up with EV leaders like BYD in China starting under $28,000? Let us know your thoughts in the comments below.
Source: CarNewsChina, Volvo
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Twitter CEO Jack Dorsey testifies during a remote video hearing held by subcommittees of the U.S. House of Representatives Energy and Commerce Committee on “Social Media’s Role in Promoting Extremism and Misinformation” in Washington, U.S., March 25, 2021.
Handout | Via Reuters
Block jumped more than 5% on Monday, leading a rally in shares of fintech companies as analysts downplayed the threat of JPMorgan Chase’s reported plan to charge data aggregators for access to customer financial information.
The recovery followed steep declines on Friday, after Bloomberg reported that JPMorgan had circulated pricing sheets outlining potential fees for aggregators like Plaid and Yodlee, which connect fintech platforms to users’ bank data.
In a note to clients on Monday, Evercore ISI analysts said the potential new expenses were “far from a ‘business model-breaking’ cost increase.”
In addition to Block’s rise, PayPal climbed 3.5% on Monday after sliding Friday. Robinhood and Shift4 recorded modest gains.
Broader market momentum helped fuel some of the rebound. The Nasdaq closed at a record, and crypto rallied, with bitcoin climbing past $123,000. Ether, solana, and other altcoins also gained.
Evercore ISI’s analysts said that even if JPMorgan’s changes were implemented, the most immediate effect would be a slight bump in the cost of one-time account setups — perhaps 50 to 60 cents.
Morgan Stanley echoed that view, writing that any impact would be “negligible,” especially for large fintechs that rely more on debit, credit, or stored balances than bank account pulls for transactions.
PayPal doesn’t anticipate much short-term impact, according to a person with knowledge of the issue. The person, who asked not to be named in order to speak about private financial matters, noted that PayPal relies on aggregators primarily for account verification and already has long-term pricing contracts in place.
While smaller fintechs that depend heavily on automated clearing house (ACH) rails or Open Banking frameworks for onboarding and compliance may face real pressure if the fees take effect, analysts said the larger platforms are largely insulated.
WATCH: Congress moves to redraw $3.7 trillion crypto market rules, opening door to Wall Street
The global EV market is still charging ahead. According to new numbers from global research firm Rho Motion, 9.1 million EVs were sold worldwide in the first half of 2025, up 28% compared to the same period last year. But not every region is accelerating at the same pace.
China and Europe are doing the heavy lifting
More than half of the world’s EVs this year have been bought in China. That market hit 5.5 million sales in the first six months of 2025 – a 32% jump year-over-year. Around half of new cars bought in China are now electric.
While some Chinese cities’ subsidies have dried up, Rho Motion expects momentum to pick back up later in the year as more funding is released.
In Europe, 2 million EVs were sold in the first half of the year, up 26%. Battery electric vehicle (BEV) sales also rose 26%, thanks in part to affordable models like the Renault 4 (pictured) and 5 entering the market. Plug-in hybrids (PHEVs) weren’t far behind, growing 27% year-to-date. Chinese automakers are leaning into PHEVs as a way to work around the EU’s new tariffs on BEVs.
Spain is leading the pack with EV sales soaring 85% so far this year. Its generous MOVES III incentive program was extended in April and has kept sales strong. The UK and Germany are also seeing solid growth – 32% and 40%, respectively. France, however, is slumping. With subsidies cut, EV sales there have dropped 13%.
North America is stuck in the slow lane
Things aren’t looking quite as bright in North America. EV sales in the US, Canada, and Mexico are up just 3% so far this year.
Mexico is the one bright spot, with a 20% boost. The US is up 6%. But Canada is down a whopping 23%.
And things could get bumpier. On July 4, Trump signed Congress’s big bill into law, which axes all the Inflation Reduction Act EV tax credits. Those consumer credits for EVs now officially end on September 30.
Just over half of the EVs sold in the US this year qualified for those credits. Rho Motion predicts a rush in Q3 before the subsidies disappear – and a decline in sales after that.
Rho Motion data manager Charles Lester said, “With Trump’s latest cuts in his ‘Big Beautiful Bill,’ the US could struggle to see any growth in the EV market overall in 2025.”
Global EV sales snapshot, H1 2025 vs H1 2024
- Global: 9.1 million (+28%)
- China: 5.5 million (+32%)
- Europe: 2.0 million (+26%)
- North America: 0.9 million (+3%)
- Rest of world: 0.7 million (+40%)
Read more: China breaks records as global EV sales hit 7.2 million in 2025
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Lucid’s electric sedan can drive further, charge faster, and packs more advanced tech than most of the competition. That might explain why it’s leading the segment. The Lucid Air remained the best-selling luxury EV sedan in the US after widening its lead in the Q2.
The Lucid Air is America’s best-selling luxury EV sedan
The 2025 Lucid Air Pure arrived as the “World’s most efficient car” with an EPA-estimated range of 420 miles and a record 146 MPGe.
It just set a new Guinness World Record last week for the longest journey by an electric car after travelling 749 miles (1,205 km) on a single charge.
That record was set in the range-topping Lucid Air Grand Touring model, which is rated for up to 512 miles of EPA-estimated range. On the WLTP scale, it’s rated at 597 miles (960 km). Either way, it still crushed the estimates.
According to second-quarter sales data, released by Kelley Blue Book on Monday, the Lucid Air is still America’s best-selling luxury EV.
Lucid sold 2,630 Air models in Q2, up 10% from the previous year. Through the first half of 2025, Lucid Air sales are up 17% with 5,094 units sold.
Tesla, on the other hand, only sold 1,435 Model Ss during the quarter, 71% fewer than it did in Q2 2024. Tesla Model S sales in the US are down 70% through the first half of the year at 2,715.
Although Porsche Taycan sales were up 32% with 1,064 models sold, the significantly upgraded 2025 model year was expected to see even more demand. Porsche has 2,083 Taycans in the US this year, up just 1% from 2024.
Other luxury EV sedans, such as the BMW i5 (1,434), i7 (820), and the Mercedes EQS (498), experienced steep double-digit sales declines year-over-year.
And it’s not just electric luxury sedans. The Lucid Air is currently outselling many gas-powered vehicles in its segment.
Lucid’s first electric SUV, the Gravity, is also rolling out. Although only five were sold in the second quarter, Lucid is quickly scaling production. Lucid aims to produce 20,000 vehicles this year, more than double the roughly 9,000 it built in 2024.
Earlier today, Lucid’s interim CEO, Marc Winterhoff, confirmed during an interview with Bloomberg that the company expects higher Gravity output in the second half of the year.
The interview was at the grand opening of Panasonic’s new battery cell plant in De Soto, Kansas. Winterhoff said Lucid will start using new cells from the facility, but not until next year.
Lucid’s CEO stressed the importance of establishing a local supply chain, as policy changes under the Trump Administration are taking effect. Lucid and Panasonic are collaborating to localize EV materials, such as graphite. Last month, Lucid secured a multi-year supply agreement with Graphite One for US-sourced Graphite.
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