Volvo's next compact EV will be a "very good looking car" – CMA-based EV to be unveiled on March 2, 2021 –

Volvo has announced that it will be unveiling an all-new electric vehicle on March 2, 2021. Like the XC40 Recharge, the EV will be underpinned by the compact modular architecture (CMA).

Not much is known about the car yet, but Volvo CEO Hakan Samuelsson told Automotive News: “We will keep you a bit in the dark until we show the car, but I promise you it will be a very good-looking car.” When asked if the new EV will replace the discontinued V40, he said: “For Volvo to be profitable we need to focus on higher price, more premium car segments.”

The new car will likely not be the rumoured XC10 or XC20, because those models will be based on the Sustainable Experience Architecture (SEA) platform, one created for pure electric vehicles. SEA, which was developed by Geely, can be used to build “very premium Volvos,” Samuelsson said.

Previously, Volvo said every new model launched as of this year will be electrified. By 2025, it wants its EVs to account for 50% of its global sales. This is part of the automaker’s transition to become a fully-electric car brand within the next 20 years and being climate neutral by 2040, running completely on renewable energy.

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