Volvo EX60 Will Be a Model Y–Rivaling Crossover

• Volvo will launch a new electric crossover called the EX60, with a debut planned for 2026.

• The new car will debut Volvo's next-generation SPA3 module production architecture, which will be the company's most advanced yet.

• Including the EX60 and upcoming ES90 electric sedan, Volvo is planning to launch five new electric vehicles by the end of the decade.

Volvo has plans to launch a new electric compact crossover called the EX60, which will slot into the lineup alongside the internal-combustion XC60 (shown below). The news came at a September 5 Volvo event in Gothenburg, Sweden, a day after the automaker showed the facelifted XC90 SUV and walked back previous ambitions for an EV-only lineup by 203o.

While the new EX90 SUV and the ES90 (which is set to debut in March 2025) both ride on the brand's current SPA2 production architecture, the EX60 will be Volvo's first product built on its next-generation SPA3 platform. The SPA3 architecture will be Volvo's most advanced yet and should help the brand build vehicles more cost-effectively.

One of the defining features of the new architecture will be the structural battery packs, which Volvo executives said will reduce weight and cost. The newer battery packs are also set to feature more compact and energy-dense cells—allowing the car to store more energy in the same footprint. The company said it aims to achieve 93 percent efficiency with its next generation of electric motors, up from 85 percent in its first EVs and 91 percent now.

The new platform is designed to be completely modular—like an automotive Lego set that can be used to make every upcoming Volvo model. The company calls it a "Superset Tech Stack"; it's a standardized set of hardware, software, and production modules that can be interchangeably used throughout the lineup. Along with the modularity, the new platform will make use of megacasting to reduce the number of parts in each vehicle.

In the meantime, Volvo is joining other automakers in resetting electrification targets. CEO Jim Rowan says the company will still be ready with a variety of electric cars for customers and markets that are prepared to make the switch in the next few years, but will also offer hybrids for customers who aren't ready yet. "By 2030, we aim to be 90 to 100 percent electrified," CEO Jim Rowan said. Those figures include corded models, so plug-in-hybrid and battery-electric models count, but standard hybrids do not. "The path won't be linear, though," Rowan added, with some markets like the United States likely taking longer than others.