Things will get underway in early 2025.
Volvo has already committed to an all-electric vehicle lineup by 2030, so that means existing SUVs like the popular XC60 and XC90 will either be going fully electric or will be replaced by something else. Chances are, both will stick around due to nameplate equity. But new information has come to light claiming the Chinese-owned Swedish automaker intends to launch a new, fully electric SUV slotted in between both of those models in terms of size.
Automotive News cites unidentified sources familiar with the matter that this new EV SUV will be based on an also-new electric platform and is set to come packed with the latest autonomous driving technologies.
Currently codenamed V546 (this isn't the final name), the new model is expected to be Volvo's third battery-electric that'll be manufactured at Volvo's North Charleston, South Carolina facility, with production duties shared with an undisclosed Chinese plant. Based on the Concept Recharge, this will be a global model with the goal of producing some 100,000 units annually. An estimated 40 percent of the vehicles will be made in America while the remainder will be built in China.
Interestingly, Chinese production is due to get underway first with a late-2024 start date. Volvo declined to comment on the report. The Charleston factory is a massive place, consisting of 2.3 million square feet, and will be the carmaker's first factory to build the next-generation BEVs and the only one to be BEV exclusive.
The facility only opened in 2018 and currently produces the S60 midsize sedan and, come 2022, the next-generation XC90. An EV version will arrive in early 2023. With two model assembly lines, it has the capacity to build up to 150,000 cars annually. The facility, however, won't be limited to building just Volvos.
Polestar, Volvo's sister brand, will soon be launching the Jaguar I-Pace-fighting all-electric Polestar 3 crossover and it too will call South Carolina home. A $118 million expansion is currently underway for that task. The chief goal for this factory is to supply America with EVs from Volvo and at least one from Polestar. Many will be exported to markets such as Europe and anywhere else that'll be needed.