The Volvo EX90 flagship electric SUV has gotten off to a great start when it comes to orders, even though it starts around $80,000 in the US and customer deliveries are almost a year away.
In its Q1 2023 results report released today, Volvo Cars cited "tremendous reception from customers" for the EX90 flagship EV that had its global unveiling last year.
"This has surpassed the company's boldest and most ambitious internal projections," the automaker said in a press release without disclosing numbers. "As a result, Volvo Cars has closed the order book for the time being because the first scheduled production run is sold out, but it will re-open again soon," the company added.
Volvo Cars also said the strong customer response has given it "renewed confidence in its strategy and roadmap for the future."
Unveiled in November 2022, the Volvo EX90 is a sister vehicle to the Polestar 3, although it offers one extra row of seats for a total capacity of seven passengers. It's also an electric-only equivalent of the current XC90.
The EX90 is the brand's third BEV model after the XC40 Recharge and C40 Recharge. A fourth one will be unveiled later this year under the EX30 moniker. As the name suggests, it will be an entry-level small SUV that's set to take the company "into a new demographic and with a competitive price point."
After launching the EX30 – the global unveiling is scheduled for June 15 – Volvo says it will introduce more fully electric cars in the coming years, "at least one per year until mid-decade." These future EVs will be built on next-generation electrical architectures and core computing technology.
For now, with the launches of the EX90 and EX30, Volvo said it will cover both the top end of the premium electric market as well as the entry level premium segment. This suggests the brand won't launch an EV smaller than the EX30 or larger than the EX90.
The Volvo EX90 and EX30 will complement the existing line-up of the fully electric XC40 Recharge and C40 Recharge. "This sets the company up for a future with strong growth and improved profitability on fully electric cars," the automaker said in the press release.
Volvo will begin production of the EX90 for North American markets at its plant in Charleston, South Carolina in late 2023, with manufacturing at the Chengdu plant in China for Asian and European markets to follow at a later date.