Volvo's new entry-level EV will be a huge upgrade over the EX30 and EX40.
The EX50 will ride on the SPA3 platform and be similar in size to the Tesla Model Y.
It will head to the U.S. in limited numbers initially.
Volvo is reportedly preparing a new electric crossover to replace the aging EX40 and compete in the hotly contested compact electric SUV segment dominated by the Tesla Model Y.
The new model will be called the EX50 and is expected to arrive in the U.S. by the end of 2027 with a starting price in the high $40,000 range, Automotive News reported Monday, citing people familiar with the plans.
