In addition to the ES90 that entered production in September 2025 and the EX60 scheduled to debut in January 2026, Volvo Cars has three more EVs in the pipeline, as outlined at its 2024 Capital Markets Day presentation. The company is coy on details, but one of these would have to be the next-gen Volvo EX40, positioned in the compact SUV segment.
In this article, we’ll outline our expectations from the future EX40.
On the 40 Series successors
Originally introduced as the XC40 Recharge six years ago, the EX40 is a core model in Volvo Cars’ global EV lineup. The company has implemented several upgrades over the years, including changing the drivetrain layout from FWD to AWD and introducing new motors.
Top company officials have indicated that the next-gen EX40 would have more substantial improvements, mainly thanks to the all-new platform.
The remaining three cars in active development, we won’t be sharing any details on today, but it is important for you to know that all of these five new, fully-electric car models will be based on the same Superset technology stack from Volvo Cars, the same systems and modules, hardware and software, and that will bring our industry leading safety expertise, the latest technologies, and continuously improved customer experience faster to a wider group of customers, while allowing us to capitalize on the investments already made into the electric infrastructure built up for the EX90.
Erik Severinson, Chief Product and Strategy Officer, Volvo Cars (2024 Capital Markets Day on September 5, 2024)
SPA3, CTB & Megacasting
The next-gen EX40 will sit on Volvo Cars’ in-house SPA3 platform, replacing the current CMA platform co-developed with Geely. With cell-to-body (CTB) batteries, third-generation motors, and megacasting, SPA3 should deliver significant technical advancements.
While CMA is a shared, mixed-energy platform, Anders Bell, Volvo Cars’ Chief Engineering & Technology Officer, has said that SPA3 is being engineered specifically for Volvos and only for pure electric models. “We have been able to remove all the old constraints of the combustion engine, like all of it,” Bell said during the Q4 2024 earnings conference call on February 6, 2025.
At the 2024 Capital Markets Day, Volvo Cars CFO Fredrik Hansson said that CTB technology will save weight, improve energy density, and reduce costs by 25%. The third-gen motors provide a 40% cost advantage. Megacasting, which the company plans to use for the rear floor of SPA3 EVs, delivers a further 35% cost reduction while simplifying logistics and manufacturing, he added.
During the event, Bell talked about efficiency improvements of the SPA3 platform. He said that the company increased the efficiency of its motors from 85% to 91% by switching to in-house, second-generation motors, and it aims to improve further.
With SPA3, we are taking a further step forward. We’re looking for the next few percents of efficiency, range, and performance, and we’re introducing our third generation of e-motors. Designed and built in-house. With higher efficiency and performance. Aiming to reach 93% efficiency. And at a lower cost.
Anders Bell, Chief Engineering & Technology Officer, Volvo Cars (2024 Capital Markets Day on September 5, 2024)
Bell also highlighted the scalability of the SPA3 platform, saying it can underpin cars across segments, including models smaller than the EX30 and larger than the EX90:
As a part of the Superset tech stack, the SPA3 vehicle architecture is designed to be upgraded and scalable over time in every dimension: size, price, performance, and adaptable to region. It’s designed to be upgraded from the get-go.
This means instead of large gaps between generations, we can continuously develop and build cars of all sizes on the same technology base with an ever-evolving tech stack.
Anders Bell, Chief Engineering & Technology Officer, Volvo Cars (2024 Capital Markets Day on September 5, 2024)
LFP & NMC batteries
Volvo Cars will likely offer the next-gen EX40 with LFP and NMC battery options. The LFP pack would target cost-conscious customers, while the NMC pack would suit drivers covering longer distances. In the U.S., the company is expected to prioritize NMC, with an EPA-estimated range of 300-350 miles.
Looks & Features
Compared to the squarish current model, the next-gen EX40 should feature a sleek design that favors aerodynamics and efficiency over road presence. Bolder lighting signatures at the front and rear should give it a more striking appearance. New wheel designs and paint options are also likely.
Inside, expect Volvo Cars to redesign the dashboard with a slimmer profile and strong emphasis on Swedish minimalism. Updates to the steering wheel, center console, door panels, and displays are expected. New upholstery choices, decor elements, and a wider use of sustainable materials are also on the cards.
Nvidia Drive Thor
With increasing demand for in-car connectivity, immersive entertainment, comprehensive active safety, and autonomous driving features, Volvo Cars has begun adopting more powerful processors to enhance core compute. The company will likely use Nvidia’s Drive Thor system-on-a-chip (SoC) in the next-gen EX40.
Nvidia says Drive Thor is four times more powerful than the Drive Orin SoC used in the EX90, delivering 1,000 TOPS of processing power. However, the company has also developed a 750 TOPS version, which could be a better fit for the EX40. At the 2024 Capital Markets Day, Bell confirmed that Volvo Cars will offer both versions of the Drive Thor SoC.
Step change
From our time with the current model, we felt that EX40 (XC40 Recharge’s) interior is already quite modern and practical, but we can expect a step change in this department as well. The digital cluster is clean and easy to read, while the infotainment system integrates Google apps natively, though its graphics and fonts could be sharper.
Swedish craftsmanship is evident in the trim details, crystal gear selector, and fine upholstery, all of which should carry forward to the next-gen EX40. Ingress and egress are easy, with good outward visibility. We’ve noted that a six-foot-tall driver gets just enough headroom, adequate lumbar support, and decent under-thigh support in the current model.
Rear seat occupants benefit from heating on the outer seats, but knee room is tight, and the seatback does not recline, which we hope is addressed by the new bespoke platform. Cargo capacity is practical, with 18.9 cu. ft. of space expandable to 49.4 cu. ft., plus a small frunk (0.7 cu. ft.) for extra storage, both of which should be improved in the next generation model.
Pricing & Release Date
We expect Volvo Cars to unveil the next-gen EX40 in 2027, and bring it to the U.S. at the end of that year. With the cost saving measures possible with the SPA3 platform, the company may just be able to price it from under USD 50,000.
International Automotive News Editor since 2014, covering global motor shows, industry events, and test-driving various vehicles, with a focus on hybrid and electric cars in recent years.
