2026 Volvo EX60: Tesla Model Y-sized electric SUV edges closer to production

Volvo’s answer to the world’s best-selling electric vehicle (EV) is starting testing this year, giving the Chinese-owned Swedish carmaker a much-needed presence in one of the world’s most popular new vehicle market segments.

The Volvo EX60 – the electric equivalent to the brand’s most popular model, the XC60 – is set to undergo its first round of testing in 2025, the carmaker confirmed this week, before production of the mid-sized SUV starts in 2026.

It’s tipped to be similarly sized to the Tesla Model Y, but likely be closer in terms of fit, finish and price to traditional European rivals such as the BMW iX3 and Audi Q6 e-tron.

Like the smaller Volvo EX30 and larger EX90 electric SUVs, the EX60 will be based on a dedicated EV platform, this time called SPA3.

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As previously reported, the SPA3 platform builds on the SPA2 underpinnings of models like the EX90, and includes several key upgrades such as enhanced core computing capability.

Volvo has said the SPA3 platform is far more scalable than SPA2, and can underpin cars of all sizes – including vehicles smaller than the SEA2-based EX30, and larger than the EX90.

It’s expected that while the EX60 will be almost identical in size to the XC60, it’ll follow the formula of the XC90-sized EX90 by getting a fresher exterior design with more closed-off surfaces to make it more aerodynamic and efficient, and to align it more closely with Volvo’s EV styling.

In Volvo’s fourth-quarter earnings call this week, the carmaker’s head of global engineering, Anders Bell, said the EX60 won’t be limited by factors which have impeded the XC60.

“Because it’s 100 per cent electric, we’ve been able to remove all the old constraints of the combustion engine,” Mr Bell said.

“We very much took a first-principles approach to it. You will see the highest level of supremely well-integrated technology coming together in these products.

“All the work we’re putting into the EX90 will go directly into the SPA3 cars as well. It’s basically the same software stack.

“SPA3 is designed from the beginning to be much more scalable, in size and price point and across regions, but also scalable in volume.”

While Volvo has previously said it’ll build the EX60 at its Torslanda plant in Sweden, it’s likely to be built elsewhere for other markets.

Australian-delivered versions of the EX30 and EX90 are produced in China, coming from Zhangjiakou and Chengdu, respectively.

Given the vast operations of Volvo’s Chinese parent Geely in its home nation, it’s likely to use one of its many factories to produce the EX60 there for certain markets.

The EX60 will join a growing lineup of Volvo EVs globally, which includes the EX30, the EX40 (formerly known as the XC40 Recharge), the EX90, the China-only EM90 people-mover and the upcoming ES90 large sedan.

Despite announcing in March 2021 that it would only sell EVs globally by 2030, Volvo walked back this target to 90-100 per cent electrified vehicle sales by 2030 – with the new figure including plug-in hybrids (PHEVs).

Speaking to CarExpert in May 2024, Volvo Car Australia managing director Stephen Connor said all new models coming to Australia will be electric, with PHEV powertrains potentially only being introduced to existing models alongside facelifts.

“Every new car that we bring will be a battery-electric car. So every new model that comes into the range will be battery-electric,” Mr Connor told CarExpert.

“That’s critical for me to emphasise that. If it’s a new model, it will be purely battery-electric; if it’s an existing model or facelift then that’s the current XC60 or XC90 [where there’s scope for non-EV launches before 2026].”

MORE: Volvo is the latest brand to walk back ambitious EV goalsMORE: Volvo EX60 will sit beside XC60, battle Model Y and BMW iX3