Volvo Korea CEO Lee Yoon-mo said, "EX30·EX90 will dominate the premium EV market with overwhelming price competitiveness."

*This content was translated by AI.

- Why did you lower the EX30 price... Tesla Model 3 Targets "Taking the Lead in Popularizing Imported EVs"

- Maximizing Exchange Rate Fluctuation Benefits, EX30 Doubles Contract Volume Compared to Last Year

- Flagship EX90 is also expected to be a 'segment bestseller' goal

Volvo Cars Korea expressed its position on the big repercussions of lowering the price of its electric car EX30 by 7 million won. Volvo Cars Korea CEO Lee Yun-mo recently unveiled the key background of the price policy changes of the entry-class SUV EX30 and flagship SUV EX90, while explaining the brand's strategy to convert electricity.

Tesla Model 3 Shot EX30, "Strategic Pricing Is Inevitable"

Regarding the pricing of the EX30, a hot potato in the market, CEO Lee Yun-mo first stated honestly, "Tesla Model 3 was at the center of the price policy change." In order to cope with Tesla's offensive, which is a reference point for the global electric vehicle market, it has completed a price tag at a level that can directly hit through intense discussions with the headquarters.

In particular, CEO Lee cited the macroeconomic situation in which the won's value has depreciated by about 20% against Sweden's Krona over the past year. "The exchange rate effect has created an environment in which prices are lost by 20%," he said. "The price adjustment to fully return this external situation to consumer benefits was an inevitable option."

These strategies led to an immediate market response. Sales of the EX30, which was around 1,000 units last year, have already recorded more than 2,000 contracts this year, showing explosive growth. CEO Lee said, "We have an opportunity to deliver the value of our brand to a new consumer group that has not considered Volvo before," adding, "EX30 is not just a new car, but a vanguard of expanding Volvo's territory."

EX90, "The most competitive price for premium No. 1"

Lee's eyes are now on the flagship electric SUV "EX90," which is the most anticipated product in the second half of the year. He suggested that the EX90 was also priced at the most competitive level in the global market. This is not just a price cut, but Volvo Korea's meticulous calculation to secure an overwhelming share in the premium electric vehicle market.

Lee also mentioned a differentiated strategy from the internal combustion engine market. "Frankly, it will be difficult to top the gasoline model market as a whole, but we will produce best-selling models in each segment at least in the premium electric vehicle market," he said. Volvo's ambition is to become a true powerhouse in the electrification era by adding price competitiveness of "reasonable premium" to its image as a epitome of safety.

Software-Centered Future, Volvo's New Decade

The announcement of the price policy is also in line with Volvo's willingness to lead the software-oriented automotive (SDV) era beyond simple hardware manufacturers. The EX30 and EX90 are equipped with platforms dedicated to next-generation electric vehicles and enhanced connectivity services, and it is considered urgent to lower entry barriers to popularize them.

Industry officials believe Volvo Korea's move will trigger the removal of the price bubble in the imported electric vehicle market. In particular, the leadership of CEO Lee Yoon-mo, who actively utilizes the exchange rate advantage to persuade the headquarters and replaced it with an aggressive marketing asset in the domestic market, stands out.

Finally, CEO Lee Yoon-mo said, "Despite concerns over the catharsis (temporary demand stagnation) in the electric vehicle market, Volvo will continue to walk on a road map for electricity without wavering," adding, "We will solidify our EV leadership in the Korean market through a perfect package that consumers can understand about performance, safety, and price."

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*This content was translated by AI.