Reuters writes that the EX30 is the smallest SUV ever released by Volvo and it is competing with Tesla's Model 3, among other vehicles in this class.

Volvo, who plans to sell only battery-powered vehicles by 2030, bets strongly on the EX30 to bring more revenue to the company, as drivers are switching to EVs at a fast rate.

Company officials said that "customers get a premium fully electric SUV for a similar price to combustion engine-powered equivalents."

The first EX30 units could be delivered to customers at the beginning of 2024 and the car will be available with two battery options, the first being a 51kWh lithium iron phosphate setup with a range of up to 344 kilometers. Drivers who want more range can opt for the 69kWh nickel manganese cobalt batteries, which can boost the driven distance to 480 km.

52.000 euros is the top price for the EX30, which includes the longest range and all the bells and whistles.