Sold 100,000 Units in Europe Within One Year of Launch
351 km Range and 272 Horsepower on a Single Charge
Volvo Korea ranked 4th among imported car brands in the domestic market last year by selling 15,051 new cars. This marks an increase of more than five times from 2,976 units sold in 2014, a decade ago. The growth rate reached 405%. Compared to BMW (83%) and Mercedes-Benz (88%), which only achieved double-digit growth rates during the same period, this is remarkable. Lee Yun-mo, CEO of Volvo Korea, said, "The reason we have been able to grow the fastest among imported cars over the past 10 years is due to our reasonable pricing policy, safety features, and premium strategy."
Yoonmo Lee, CEO of Volvo Korea, is giving a presentation at the launch event of the compact electric SUV 'EX30' held on the 4th at 'Lotte Hotel & Resort Gimhae' in Busan. (Photo by Volvo Korea)
At the launch event for the compact electric SUV 'EX30' held on the 4th at Lotte Hotel & Resort Gimhae in Busan, CEO Lee stated, "Volvo Korea has been able to grow by gaining great trust and confidence from customers."
He added, "Since introducing the 'XC60' to the domestic market in 2016 and declaring that safety cannot be an optional feature, we have differentiated ourselves by applying the highest-level safety options as standard. We have also maintained a principle of pricing more reasonably than any other brand," expressing confidence.
He continued, "We have continuously invested domestically to ensure customers can receive services quickly. As of last year, we secured 39 service centers and 233 work bays (vehicle maintenance workstations), providing the best service relative to sales among imported cars," he self-assessed.
CEO Lee introduced the EX30 unveiled that day as a model that will continue the growth of the past 10 years into the next decade. The EX30 successfully debuted overseas last year, its first year on the market, selling 98,065 units and becoming the top-selling premium electric vehicle in Europe, excluding Tesla.
Yoonmo Lee, CEO of Volvo Korea, is giving a presentation at the launch event of the compact electric SUV 'EX30' held on the 4th at 'Lotte Hotel & Resort Gimhae' in Busan. (Photo by Volvo Korea)
It features a 272-horsepower motor output and a rear-wheel-drive single motor extended-range powertrain capable of accelerating from a standstill to 100 km/h in just 5.3 seconds. Equipped with a 66kWh nickel-cobalt-manganese (NCM) lithium-ion battery, its single-charge driving range is 351 km based on combined standards (certified by the Ministry of Environment).
CEO Lee said, "I drove directly from Bundang to Gimhae, covering 350 km, and upon arrival, the remaining driving range was 75 km. Driving 400 km is definitely feasible."
The EX30 is equipped with Volvo's standard safety technology called 'Safe Space Technology,' including a driver warning system, door open alert, and Park Pilot Assist that automatically parks the vehicle. It received a perfect 5-star safety rating from the European New Car Assessment Programme (Euro NCAP).
The domestic selling price for the Ultra model is 51.83 million KRW (excluding subsidies), while the same model sells for 75.05 million KRW in the UK and 76.41 million KRW in Sweden. CEO Lee said, "After some tough negotiations with headquarters, we led the decision to aggressively lower prices for the domestic market," expressing expectations that "the EX30 will become the best-selling premium electric vehicle in Korea as well."
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