Volvo’s cheapest EV is taking Europe by storm: Will it do the same in the US?
Volvo’s smallest and cheapest EV, the EX30, is already changing the game in Europe. Will it have the same impact in the US?
According to new data from the European Automobile Manufacturers Association, European new car registrations grew by just 0.2% in July 2024.
Electric vehicle registrations fell 10.8% to 102,705 units last month. As a result, EV market share dropped to 12.1% in July 2024 from 13.4% a year ago.
Despite higher sales in Belgium (+44.2%), the Netherlands (+8.9%), and France (+1%), Germany’s massive decline (-36.8%) dragged down the market. Through the first seven months of 2024, EVs represented 12.5% of Europe’s new car registrations (815,399 units)
On the other hand, hybrid vehicles saw 25.7% more registrations in July (273,003) as the four largest markets had double-digit growth.
France (+47.4%), Spain (+31.5%), Germany (+22.4%), and Italy (+17.4%) all saw higher hybrid sales last month, pushing the market share to 32%, up from 25.5% last year.
Gas and diesel-powered cars had 7% and 10% fewer registrations in July, respectively, as they continue to fall out of favor.
Volvo’s cheapest EV drives growth ahead of US launch
Volvo led Europe’s new car registration growth in July, with 22,079 units sold last month, up 36.7% from July 2023.
Volvo has over 176,200 new vehicles registered in the EU through the first seven months of 2024. That’s up nearly 39% from the 127,032 cars registered through July last year.
The EX30, Volvo’s smallest and cheapest EV, is driving the growth. After delivering its first model in January, Volvo has already sold 47,172 models through July.
Through July, the Swedish automaker outpaced rivals, including Volkswagen (+3.6%), Stellantis (0.2%), Hyundai (-3.1%), BMW (+1.8%), Mercedes-Benz (-1.9%), and Tesla (-9.8%).
Volvo expected the EX30 to be a game changer, and it has been in Europe. Starting at around 36,000 euros ($40,000), the EX30 is one of the most affordable EVs in Europe.
In the US, the EX30 will start at $34,950, making it one of the cheapest electric options on the market. Although it was expected to launch in the US later this year, Volvo is pushing it back until 2025.
The delay comes after the US announced a 100% tariff on EVs imported from China, where the EX30 is currently built.
Volvo is accelerating production at its Ghent, Belgium plant to export to the US. The EX30 will be available in single- and Dual-motor powertrains with a range of up to 275 miles. Volvo’s AWD EX30 is rated at 265 miles.
Despite its low starting price, the EX30 is still loaded with the tech and safety features expected from Volvo. It includes a 12.3″ tablet-style infotainment and driver display with Google built-in and wireless Apple CarPlay support.
Electrek’s Take
Starting at $35,000, the EX30 will be one of the most affordable EVs in the US. According to Kelley Blue Book, the average price for a new EV in July 2024 was $56,520, 1.5% lower than in 2023.
Some of the lowest-priced EVs on the market include the Nissan LEAF ($28,140), Mini Cooper SE ($30,900), Hyundai Kona Electric ($32,875), Hyundai IONIQ 6 ($37,500), and Tesla Model 3 ($38,990).
Although the delay will allow rivals, like the lower-priced Chevy Blazer EV ($35,000), to hit the market first, Volvo still expects the EX30 to be a significant growth driver in the US. With two new electric SUVs launching in the US, Volvo expects similar results.
Would you consider Volvo’s EX30 for around $35,000? Let us know in the comments.
Source: ACEA
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Environment
Baidu- and Geely-backed JiYue brand unveils ROBO X EV that goes 0-100 km/h in under 1.9 sec
JiYue, a Chinese EV brand focused on delivering all-electric “robocars” to the masses, has unveiled its latest model, and it’s quite a deviation from its previous EVs—but in the best way. Earlier today, JiYue launched the ROBO X supercar, designed for high-speed racing. By high speed, we mean 0-100 km/h acceleration in under 1.9 seconds. My mouth is watering.
JiYue has only existed since 2021, when parent tech company Baidu announced it was expanding from software development into physical EV production, joining forces with multinational automotive manufacturer Geely.
The new “robotic EV” marque initially launched as JIDU with $300 million in startup capital before garnering an additional $400 million in Series A funding, led by Baidu, in January 2022.
In August 2023, Geely took on a larger role in JIDU alongside a greater financial stake as the brand reimagined itself as JiYue, inheriting the JIDU logo and its flagship model, the 01 ROBOCAR.
In December 2023, Baidu and Geely unveiled a second model called the JiYue 07. It was born from JIDU’s ROBO-02 concept, which debuted in 2023 and was designed to compete against the Tesla Model 3 in China.
The 07 finally launched in China earlier this year with 545 miles of range. With an all-electric SUV and sedan on the market, JiYue has unveiled an exciting new entry in the form of a performance supercar called the ROBO X. Check it out:
JiYue’s new ROBO X EV is available for pre-order now
JiYue showcased its new ROBO X hypercar in front of the crowd at the 2024 Guangzhou Auto Show earlier today. Similar to previous models but with a unique spin, JiYue described the ROBO X as an AI smart-driving supercar that, for the first time, blends artificial intelligence and autonomous driving into a high-performance, race-ready EV.
When we say “high performance,” we mean a quad motor liquid-cooled drive system that can propel the ROBO X from 0 to 100 km/h (0 to 62 mph) in under 1.9 seconds. JiYue called the new ROBO X a “performance beast” with “the perfect balance of excellent aerodynamic performance and high downforce.” JiYue CEO Joe Xia was even bolder in his statements about the ROBO X:
For the next 20 years, the design of supercars will bear the shadow of Robo X. This is the best design in the history of Chinese automobiles today, and it is a landmark presence.
Fighter-style airflow ducts bolster the EV’s aerodynamics, efficiency, and overall posture. Per JiYue, the two-seater ROBO X is expected to deliver a maximum range of over 650 km (404 miles).
The new supercar features falcon-wing doors, a carbon fiber integrated frame, and a professional racing HALO safety system offering 360° of support. The interior features an AI smart cockpit with SIMO real-time feedback to give drivers an immersive racing experience.
Furthermore, JiYue said the vehicle will utilize parent company Baidu’s Apollo self-driving technology, which could make it the first electric supercar to apply pure-vision ADAS technology that enables track-level autonomous driving.
Following today’s unveiling of the ROBO X, JiYue has officially opened up pre-orders in China for RMB 49,999 ($6,915). That said, reservation holders will need to be patient as JiYue shared that it doesn’t expect to begin mass production of the ROBO X until 2027.
What do you think? Will people be talking about the ROBO X for the next 20 years?
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This week on Electrek’s Wheel-E podcast, we discuss the most popular news stories from the world of electric bikes and other nontraditional electric vehicles. This time, that includes the launch of the Lectric XPedition 2.0, Yamaha e-bikes pulling out of North America, LiveWire unveils an electric scooter concept, PNY readying its cargo e-scooters for pilot testing, Royal Enfield’s first electric motorcycle, and more.
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Crude oil futures were on pace Friday for loss for the week, as a supply gut and a strong dollar depresses the market.
U.S. crude oil is down more than 2% this week, while Brent has shed nearly 2%.
Here are Friday’s energy prices:
- West Texas Intermediate December contract: $68.56 per barrel, down 14 cents, or 0.2%. Year to date, U.S. crude oil has shed about 4%.
- Brent January contract: $72.36 per barrel, down 20 cents, or 0.28%. Year to date, the global benchmark has lost nearly 6%.
- RBOB Gasoline December contract: $1.99 per gallon, up 0.46%. Year to date, gasoline has fallen more than 1%.
- Natural Gas December contract: $2.70 per thousand cubic feet, down 2.98%. Year to date, gas has gained more than 4%.
The International Energy Agency has forecast a surplus of more than 1 million barrels per day in 2025 on robust production in the U.S. OPEC revised down its demand forecast for the fourth consecutive month as demand in China remains soft.
A strong dollar also hangs over the market, as the greenback has surged in the wake of President-elect Donald Trump’s election victory.
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