Volvo’s most affordable EV will arrive with up to $9,000 in discounts, but here’s the deal
Volvo’s most affordable EV, the EX30, already has up to $9,000 in discounts with US deliveries just around the corner. However, with some limitations, the Volvo EX30 could face stiff competition with better deals on Tesla, Kia, and Toyota electric models.
Volvo’s most affordable EV hits the US with big discounts
The EX30 is already among the top-selling electric cars in Europe after delivering the first models in January. Now, it’s set to arrive in the US.
After seeing strong demand for the EX30 in the US, Volvo fast-tracked its most popular model: The Twin Motor Performance. The Twin Motor EX30, starting at $46,195 (including destination fee), is available in Plus or Ultra upgrades. Meanwhile, the long-awaited $36,245 Single Motor trim is scheduled to arrive in early 2025.
According to online auto research company CarsDirect, Volvo’s most affordable EV is getting up to $9,000 in discounts.
The 2025 Volvo EX30 is available with a $7,500 EV lease allowance through the federal tax credit. Through January 2, Volvo owners can score an extra $500 if they trade in their lease.
Volvo is offering an additional $1,000 for current FWD XC40, XC60, or XC90 lessees to upgrade to an AWD model, including the EX30. With up to $9,000 off, the 2025 Volvo EX30 Twin Motor Plus can potentially be leased for as low as $37,195.
At that, the EX30 is cheaper than Tesla’s Model Y, which has an MSRP of $46,380. After the $7,500, Model Y prices could fall to $38,880.
If you’re looking to buy, it’s a different story. According to CarsDirect, the EX30 is excluded from Volvo’s APR offers, which could put it behind the Model Y and others like the Toyota bZ4X, Kia EV6, Subaru Solterra, and Hyundai IONIQ 5 with 0% financing offers this month.
Even the Volvo C40 Recharge may be a better buy. With a $7,500 Purchase Bonus, the 2024 Volvo C40 Recharge is only $1,200 more than the EX30 despite its $54,895 MSRP.
The AWD model gets an estimated EPA range of up to 253 miles. With up to 422 hp, the EX30 Twin Motor Performance is also the fastest Volvo. It can hit 0 to 60 mph in just 3.4 seconds.
Inside, the EX30 includes a 12.3″ tablet-style infotainment at the center of an otherwise minimalistic setup. As you would expect from a Volvo, the EX30 is loaded with its latest tech and safety features.
Looking for your next EV? We’ve got you covered. Check out our links below to view top deals on popular EV models in your area.
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Environment
U.S. crude oil falls below $60 a barrel to lowest since 2021 on tariff-fueled recession fears
A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025.
Pavel Mikheyev | Reuters
U.S. oil prices dropped below $60 a barrel on Sunday on fears President Donald Trump’s global tariffs would push the U.S., and maybe the world, into a recession.
Futures tied to U.S. West Texas intermediate crude fell more than 3% to $59.74 on Sunday night. The move comes after back-to-back 6% declines last week. WTI is now at the lowest since April 2021.
Worries are mounting that tariffs could lead to higher prices for businesses, which could lead to a slowdown in economic activity that would ultimately hurt demand for oil.
Oil futures, 5 years
The tariffs, which are set to take effect this week, “would likely push the U.S. and possibly global economy into recession this year,” according to JPMorgan. The firm on Thursday raised its odds of a recession this year to 60% following the tariff rollout, up from 40%.
Fueled by incentives from the Illinois EPA and the state’s largest utility company, new EV registrations nearly quadrupled the 12% first-quarter increase in EV registrations nationally – and there are no signs the state is slowing down.
Despite the dramatic slowdown of Tesla’s US deliveries, sales of electric vehicles overall have perked up in recent months, with Illinois’ EV adoption rate well above the Q1 uptick nationally. Crain’s Chicago Business reports that the number of new EVs registered across the state totaled 9,821 January through March, compared with “just” 6,535 EVs registered in the state during the same period in 2024.
Those numbers represent more than 50% growth in EV registrations – far beyond the expected 12% first-quarter increase nationally being projected by Cox Automotive. (!)
What’s going on in Illinois?
While President Trump and Elmo were running for re-election, they campaigned on the threat promise of canceling the $7,500 federal tax credit for EVs. Along with California Governor Gavin Newsom, Illinois’ Governor JB Pritzker made countermoves – launching a $4,000 rebate for new electric cars and up to $1,500 for the purchase of a new electric motorcycle.
At the same time, the state’s largest utility, ComEd, launched a $90 million EV incentive program featuring a new Point of Purchase initiative to deliver instant discounts to qualifying business and public sector customers who make the switch to electric vehicles. That program has driven a surge in Class 3-6 medium duty commercial EVs, which are eligible fro $20-30,000 in utility rebates on top of federal tax credits and other incentives (Class 1-2 EVs are eligible for up to $7,500).
We covered the launch of those incentives when the program was announced at Chicago Drives Electric last year, but the message here is simple: incentives work.
SOURCES: Chicago Business, Ray Cunningham; featured image by the author.
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The electric construction equipment experts at XCMG just released a new, 25 ton electric crawler excavator ahead of bauma 2025 – and they have their eye on the global urban construction, mine operations, and logistical material handling markets.
Powered by a high-capacity 400 kWh lithium iron phosphate battery capable of delivering up to 8 hours of continuous operation, the XE215EV electric excavator promises uninterrupted operation at a lower cost of ownership and with even less downtime than its diesel counterparts.
XCMG is delivering on part of that reduced downtime promise with the lower maintenance and easier repair needs of electric equipment, and delivering on the rest of it with lickety-quick DC fast charging that can recharge the machine’s massive battery in 1.5-2 hours … but that’s not the slick bit. The XCMG XE125EV can be powered up without leaving the job site thanks to its BYD battery swap technology.
We first covered XCMG and its battery swap technology back in January, and covered similar battery-swap tech being developed by MOOG Construction offshoot ZQUIP, as well – but while XCMG’s battery tech has been in production for several years, it’s still not widely known about in the West (even within the industry).
XCMG showed off its latest electric equipment at the December 2024 bauma China, including an updated version of its of its 85-ton autonomous electric mining truck that features a fully cab-less design – meaning there isn’t even a place for an operator to sit, let alone operate. And that’s too bad, because what operator wouldn’t want to experience an electric truck putting down 1070 hp more than 16,000 lb-ft of torque!?
Easy in, easy out
The best part? All of the company’s heavy equipment assets – from excavators to terminal tractors to dump trucks and wheel loaders – all use the same 400 kWh BYD battery packs, Milwaukee tool style. That means an equipment fleet can utilize x number of vehicles with a fraction of the total battery capacity and material needs of other asset brands. That’s not just a smart use of limited materials, it’s a smarter use of energy.
You can check out all the XE215EV’s specs at this tear sheet, and get an in-person look at the Chinese company’s latest electric excavator this week in Munich, Germany.
SOURCE | IMAGES: XCMG.
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