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Volvo's first EV will cost less than $40,000

It should also run for at least 250 miles on a charge.
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When Volvo revealed its intentions to make its first all-electric car, it raised at least a few questions: would the EV carry a premium over Volvo's already pricier-than-usual lineup? And would it have enough range to be more than an urban commuter car? Apparently, the answer to both is "yes." The company's US chief Lex Kerssemakers told the press that the 2019-era vehicle should carry a price between $35,000 and $40,000, and should have at least a 250-mile range. That would put it at the lower end of Volvo's price spectrum, and pit it directly against the wave of new mainstream EVs like the Chevy Bolt and Tesla Model 3.

The company isn't ready to talk about the finer details of the machine. However, the price and range suggest that this is most likely to be a sedan than either an SUV or a compact car like the old C30 Electric concept. And Kerssemakers stresses that range is important -- he says that people won't buy an EV unless it has "sufficient" range, even if it's overkill for the daily commute.

Volvo's approach should be important for EVs as a whole by not only making them more accessible, but introducing them to a familiar brand associated with upscale cars. It may also be crucial to the company's success in its home country. Tesla sales are exploding in Sweden, and it would be more than a little embarrassing if Volvo let a foreign rival go unchallenged for more than a few years.

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