Volvo EX30 boosts EV sales share in February to reach a new record at 22%
Volvo reached its highest-ever share of electrified vehicles as its new fully electric EX30 boosted EV sales in February. Although overall sales slid 2% last month, Volvo’s fully electric vehicle sales were up 14%, reaching a new record share.
Volvo EX30 lifts EV sales to record February share
After launching its smallest and cheapest EV, the EX30, in December, Volvo is already seeing big results.
Volvo hit a new record with 22,266 electrified vehicles (including PHEVs) sold last month, accounting for 44% of total sales. Fully electric cars also set a new record. Volvo’s EV sales share reached 22%, with nearly 11,000 EVs handed over, up 14% YOY.
The main driver last month was its new EX30, according to Volvo. Volvo sold 5,863 EX30 models through the first two months of 2024 as demand for affordable EVs heats up.
The EX30 is already rolling out in Europe, Japan, and Brazil. Volvo says its low-cost EV will hit new markets in the coming weeks.
After a record 2023 with over 113,000 EVs sold (+70% YOY), CEO Jim Rowan sees “tremendous growth” this year. He boasted about the automaker’s pricing power, with the EX30 starting at $34,950 in the US and €36,590 in Europe.
When asked about the reported “slowdown” in the EV market, Rowan responded, “We are not seeing any order cancellations or any slowdown in order intake.”
Volvo’s overall sales slipped 2% to just over 50,000 due to the timing of the Lunar New Year in China. Europe was Volvo’s biggest market, with 8,799 EVs sold, up 31% YOY. The US and China both saw EV sales fall as Volvo works to launch new models in the regions.
The EX30 is expected to launch in the US by this summer. It will be available in a single-motor extended range and twin-motor performance version.
The extended-range model will feature up to 275 miles driving range. Meanwhile, the performance includes up to 265 miles range but packs 422 hp and 400 lb-ft of torque for a 3.4s 0 to 60 mph sprint. It will start at under $35,000 as one of the most affordable EVs on the market.
Electrek’s Take
Although EV sales fell in the US and China, Volvo plans to boost sales in some of its most critical markets.
Volvo expects the entry-level EX30 to be one of its best sellers in the coming years. The Swedish automaker is also launching its first three-row electric SUV, the EX90.
The Volvo EX90 will start at $76,695 in the US to rival Rivian’s R1S, which became the seventh best-selling EV in the US last year.
Meanwhile, Volvo’s first electric minivan, the EM90, will begin rolling out in China. Volvo expects new EVs to turn sales around quickly in the US and China.
The new EVs will help Volvo as it works toward becoming an all-electric automaker by 2030. Rowan believes the company is on course to hit its target.
Volvo recently rebranded its fully electric XC40 and C40 Recharge as the EX40 and EC40 with new upgrades as its streamlines its portfolio for an all-electric future.
If you’ve been eyeing Volvo’s electric vehicles, we can help you get started shopping today. You can use our links below to find great deals on Volvo’s electric cars at a dealer near you.
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China just laid out a plan to roll out over 100,000 ultra-fast EV charging stations by 2027 – and they’ll all be open to the public.
The National Development and Reform Commission’s (NDRC) joint notice, issued on Monday, asks local authorities to put together construction plans for highway service areas and prioritize the ones that see 40% or more usage during holiday travel rushes.
The NDRC notes that China’s ultra-fast EV charging infrastructure needs upgrading as more 800V EVs hit the road. Those high-voltage platforms can handle super-fast charging in as little as 10 to 30 minutes, but only if the charging hardware is up to speed.
China had 31.4 million EVs on the road at the end of 2024 – nearly 9% of the country’s total vehicle fleet. But charging access is still catching up. As of May 2025, there were 14.4 million charging points, or roughly 1 for every 2.2 EVs.
To keep the grid running smoothly, China wants new chargers to be smart, with dynamic pricing to incentivize off-peak charging and solar and storage to power the charging stations.
To make the business side work, the government is pushing for 10-year leases for charging station operators, and it’s backing the buildout with local government bonds.
The NDRC emphasized that the DC fast chargers built will be open to the public. This is a big deal because a lot of fast chargers in China aren’t. For example, BYD’s new megawatt chargers aren’t open to third-party vehicles.
As of September 2024, China had expanded its charging infrastructure to 11.4 million EV chargers, but only 3.3 million were public.
Read more: California now has nearly 50% more EV chargers than gas nozzles
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Tesla is starting to experience some consequences for misleading Full Self Driving customers – at least that’s the finding of one arbitration ruling that has Tesla refunding one customer $10,000 plus legal fees for failing to deliver on their promises. Find out more on today’s legally challenging episode of Quick Charge!
An arbitration “court” found that Tesla misled customers with its Full Self Driving product, and has now been forced to refund at least one person’s $10,000 payment (plus legal fees) for the not-quite autonomous driving software. France, too, is piling on claims of deceptive business practices – but there’s some good news for FSD fans! If you’re still willing to pay for it, Tesla will thrown in 0% financing on a brand new Cybertruck.
Check out the relevant links, below, to learn more.
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Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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