Volvo Launches 2027 EX60 Electric SUV with Aggressive Pricing and Lease Deals

Volvo announced the 2027 EX60 midsize electric SUV on Monday, opening orders for the model that starts at a base price of $58,400 (excluding a $1,395 destination fee). The vehicle is positioned as a premium EV aimed at lowering the entry threshold for Volvo’s electric lineup. Initial deliveries are slated for later this summer, with a lease program that runs through June 30 2026.

Electrek

The compact luxury EV segment is intensifying as Audi, BMW, Mercedes-Benz, and other manufacturers introduce next-generation models. Volvo’s EX60 will compete directly with the BMW iX3 (starting at $61,500), Tesla Model Y Premium RWD, and Hyundai IONIQ 9 Calligraphy Design, all of which are already available with comparable lease incentives.

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• P6 RWD Plus: 369 hp, 354 lb-ft, 0–60 mph in 5.7 s, 83 kWh battery, up to 307 mi range, $58,400 MSRP.

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• P6 Ultra: Same performance, $65,000 MSRP, 307 mi range, 16 min charge (10 %–80 %).

Electrek

• P10 AWD Plus: All-wheel drive, $60,750 MSRP, 322 mi range, 16 min charge (10 %–80 %).

Electrek

• P10 AWD Ultra: $67,350 MSRP, 322 mi range, 16 min charge (10 %–80 %).

Electrek

• P12 AWD (future release): Projected 400 mi range, 19 min charge (10 %–80 %).

Electrek

Standard equipment includes a 15.0-inch infotainment screen with Volvo’s Google-based software, an 11.4-inch digital instrument cluster, a 21-speaker Bose audio system, panoramic roof, 360° camera, three-zone climate control, and the Pilot Assist safety suite. The Ultra trim adds 21-inch wheels, pixel headlights, perforated Nappa leather, heated steering wheel, ventilated front seats, a 28-speaker Bowers & Wilkins system, and other upscale touches, starting at $66,395.

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Volvo’s introductory lease is $599 per month for 36 months with a $6,409 down payment. Matching the down payment reduces the monthly rate to $534. By contrast, the BMW iX3 50 xDrive lease is $798 per month with the same down payment. Tesla’s Model Y Premium RWD, after a recent $1,000 price increase, is $599 per month with a $4,295 down payment; aligning the down payment to $6,409 lowers its monthly cost to $534. Hyundai’s IONIQ 9 Calligraphy Design, despite a $20,000 higher sticker price, can be leased for $617 per month with the same $6,409 down payment.

Electrek

Volvo stated that the EX60 “lowers the threshold for a premium electric SUV” and that the lease program is intended to make the model accessible to a broader customer base. The company also indicated plans to introduce a Core version of the EX60 that will trim certain standard features to further reduce the entry price.

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Analysts note that the EX60’s maximum range of 322 mi (400 mi for the unreleased P12) falls short of the BMW iX3’s advertised 434 mi and the Tesla Model Y Premium’s 357 mi EPA estimate. Additionally, the EX60’s pricing appears higher in some reports ($59,795 for the P6 Plus) than the $58,400 figure cited in the initial announcement, creating uncertainty for price-sensitive buyers. Incentive-driven lease offers from rivals also diminish the EX60’s cost advantage.

Electrek

• Base price discrepancy: $58,400 (Electrek) vs. $59,795 (MotorTrend) for the P6 Plus trim.

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• Range projections: The P12 AWD’s 400 mi claim lacks a confirmed EPA rating, while competing models have published EPA estimates.

Electrek

• Charging times: Both sources list 16-minute fast-charge windows for most trims, but the exact energy added (155 mi vs. 165 mi) varies between reports.

Electrek

First EX60 deliveries are expected later this summer, with the lease promotion ending on June 30 2026. Volvo’s forthcoming Core variant aims to further reduce the entry price, while the P12 AWD will expand the model’s range capabilities later in the model year.

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