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Volvo is building an electric vehicle, and, somewhat surprisingly, it’s not going to cost a ton of money. Lex Kerssemakers, CEO of the luxury car maker’s USA arm, has said that the company aims to launch the car in 2019 with a $35,000 – $40,000 price.
Very few details are known about the car at this point, not even its size has been decided, but Kerssemakers claimed it will have a range of at least 250 miles.
The company already offers hybrid variants of several of its models, including the XC90 SUV and the V60, but it doesn’t have a purely electric car. Developing an entirely new vehicle and bringing it to market in less than two years is a daunting task. However, Kerssemakers said Volvo’s modular platforms will make it possible.
The pricing places the vehicle neck and neck with its chief competitors; for example, Tesla’s Model 3, which will have a 215-mile range and is slated to arrive in late 2017, will start at $35,000 before incentives. And Chevrolet’s Bolt, which has a 238-mile range and is already available (albeit in a limited fashion) in the U.S., costs $37,500 before incentives.
A lot can happen between now and 2019; hopefully we’ll know more about Volvo’s EV in a few months, when the company decides on the car’s form factor.