Volvo to unveil new electric vehicle on March 2, 2021

At the beginning of the month, Volvo CEO Hakan Samuelsson told Automotive News Europe about his vision of turning the Swedish brand into an EV-only automaker by 2030. To get there, the Geely-owned marque needs more electric vehicles in its portfolio beyond the XC40 Recharge. The next order of business is to introduce a second fully electric vehicle in 2021, specifically on March 2.

Technical specifications regarding the new EV are shrouded in mystery, but we do know from Volvo’s head honcho the car will have a “more streamlined body” than the aforementioned XC40 Recharge. Much like the zero-emissions crossover, it will ride on the same CMA platform, which means it will likely fit in the compact class in terms of size.

Hakan Samuelsson told Automotive News Europe it will “be a very good-looking car.” The 69-year-old executive went on to say the model in question will not be a direct successor to the defunct V40 compact hatchback. It will come at a higher price than the combustion-engined hatch as Volvo aims to “focus on higher price, more premium car segments,” according to its CEO.

There is a distinct possibility the second Volvo EV will take the shape of a high-riding sedan as previewed by the 40.2 concept back in 2016. The car featured here was shown alongside the 40.1 concept, which went on to become the XC40 and its electric Recharge counterpart. Our logic tells us it might be Volvo’s equivalent of the Polestar 2 since that one is also a CMA-based compact sedan.

Aside from the XC40 Recharge and this new mysterious EV, Volvo is planning an assortment of models that will do away with the combustion engine altogether. A pint-sized XC20 with an electric powertrain is in the making, and we’re also hearing rumors of a large XC100 EV for a potential launch later this decade with coupe-inspired styling.

These new arrivals should help Volvo meet its goal of achieving 50 percent of global sales to be EVs by 2025 before becoming a purely electric brand by the end of the decade. Meanwhile, 20% of the company’s sales this year consist of electrified models, which include the XC40 Recharge and the plug-in hybrids.