Run, Tesla, run! 2024 Volvo EX30 electric car set to be Australia's biggest Swedish chart-topper since ABBA, and ruin the Tesla Model Y party | Opinion

Does your mother know that it’s out? If not yet, she soon will.

ABBA pun aside, Swedish carmaker Volvo’s latest electric vehicle (EV), the EX30, has the styling, specification, packaging and – above all – the pricing to become one of Australia’s best sellers when it launches here later this year as an MY24 model.

This hasn’t even come close to ever happening in the Gothenburg-based, Geely-owned company’s 96-year history, but if there’s one thing that the runaway success of Tesla has taught us, anything after 2020 in Australia’s fractured post-car-manufacturing market is possible.

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If that all sounds fanciful, consider that another electric compact SUV, the Tesla Model Y, was Australia’s best-selling passenger car last month, just behind the fleet-driven Toyota HiLux and Ford Ranger utes, but ahead of the perennially popular (especially in hybrid guise) Toyota RAV4.

The thing is, the Model Y sells strongly for a number of valid reasons, including comparatively low pricing and high availability for an EV, mainly as a result of being sourced from China.

But here’s the rub for Tesla and every other carmaker.

The Model Y has achieved unprecedented success even though it is currently priced from $69,300 (all figures are before on-road costs). Some less charitable observers might add that it’s also done extraordinarily well despite awkward styling and company CEO Elon Musk’s divisive public persona.

The EX30 EV has the potential to become one of Australia’s best sellers when it launches here later this year.

Now, Volvo is stepping into the ring with an even less-expensive SUV from China, starting from a significantly cheaper $59,990 for the EX30 Single Motor Extended Plus.

Undercutting the current cheapest Volvo and related Polestar EV – the XC40 Recharge from $73,990 and ‘2’ from $68,300 respectively – the base EX30 includes a 200kW/343Nm rear-mounted motor and rear-drive configuration.

More alluringly for status, security and speed-obsessed Australians who will no doubt already be cognisant of the fact that Volvo is a European premium brand with decades of safety breakthroughs to draw upon, it tops out from just $69,990 for the EX30 Twin Performance Ultra, complete with a heady 315kW/543Nm dual-motor all-wheel-drive powertrain and 0-100km/h claim of 3.5 seconds (the fastest-accelerating Volvo ever).

The EX30 Single Motor Extended Plus wears a price tag of ,990.

For the Model Y equivalent, you’ll need to fork out nearly $100K. Mamma Mia! You can see where this is going.

While full details are yet to be divulged, the EX30’s ultra-keen pricing is also helped along by good old economies of scale, since much of the hardware underneath is shared with other high-volume models out of China, including the new Smart #1 co-developed with Geely and Mercedes-Benz, as well as the recently-released Zeekr X. Whether either get an Australian arrival remains to be seen.

Along with pricing and performance, the Volvo is also fiercely competitive for battery range, starting with the base 69kWh pack managing a respectable 480km range, against 455km for the Model Y – though the latter takes the lead with the aptly-named Long Range AWD’s 533km result.

There is a Cross Country version of the EX30, with raised ride height and other typical off-road SUV design cues.

Yet what might really prompt buyers to bid a hasta mañana to Tesla is the EX30’s classy, chiselled styling, and all the practicality and space it promises despite possessing the footprint of a Mazda CX-3. Yes, this means the Model Y is larger, so sits in the next size class up, but clever Swedish packaging should disguise the Volvo’s size.

Speaking of interiors, even the entry-level grade includes innovations like digital key functionality, a soundbar speaker across the dash, a cabin air filter, doors that won’t open in oncoming traffic, and a very Tesla-esque 'tablet' style multimedia touchscreen that also includes vehicle speed and functions. There’s no separate instrumentation, just like with you-know-who.

Finally, there’s even a Cross Country version in the style of a Subaru XV Crosstrek, with raised ride height and other typical off-road SUV design cues. What’s not to love here?

Upfront of the EX30, there is a Tesla-esque 'tablet' style multimedia touchscreen.

Volvo’s own research indicates that – on a global scale – three quarters of all EX30 buyers will be new to Volvo. And younger than ever to boot. This is the holy grail for all volume carmakers worldwide.

We reckon Australians are probably willing to take a chance on this completely unforeseen yet thoroughly well-thought out EV.

Has Tesla finally met its Waterloo at the hands of hot EX30? Stay tuned.