Cheaper electric vehicle from Volvo coming to Canada, U.S. [Video]

A made-in-China electric vehicle will hit North American dealers this summer offering power and efficiency similar to the Tesla Model Y, the world’s best-selling EV, but for about US$8,000 less.

The EX30 from Volvo Cars, the Swedish luxury brand owned by China’s Geely, foreshadows the fierce competitive threat U.S. automakers could face from Chinese EV manufacturers that have surged far ahead of global rivals, especially on affordability.

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The US$35,000 window sticker of Volvo’s compact SUV hits a sweet spot in the North American market, where most buyers cannot afford most EVs. The competitive price reflects an unusual combination of Geely’s China-specific cost advantages and Volvo’s ability to skirt U.S. tariffs on Chinese cars because it also has U.S. manufacturing operations, according to interviews with four sources familiar with Volvo and Geely strategy and several U.S. …