Volvo's "small but mighty" first subcompact SUV will not only be the brand's most affordable model -- with a starting price of 36,590 euros in Germany -- it will also be its quickest.
That combination is one of the reasons Volvo CEO Jim Rowan is confident that the EX30 will play a key role in helping the automaker achieve its 2025 targets of boosting global sales 95 percent compared with last year to 1.2 million, with half of those models being full electric.
He said Wednesday that Volvo expects the EX30 to be one of the brand's best-sellers in the coming years and that it will "significantly contribute to our growth and profitability objectives."
Volvo wants to increase its operating profit margin into the 8 to 10 percent range by mid-decade compared with about 7 percent last year.
Order books open
Volvo on Wednesday began taking orders for the EX30 in Europe and the United States, with other markets to follow later. Deliveries of the car are set to start in early 2024.
"We like to say the EX30 is small yet mighty, because it delivers on everything you would want from a Volvo but in a smaller package," Rowan said Wednesday during the car's debut.