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2025 Volvo EX30 Ice Drive: Sliding through Sweden in Volvo's charming new EV

GULLTRASK, Sweden — The irony of testing the new 2025 Volvo EX30 on a frozen lake mere miles south of the Arctic Circle is about as strong as the nonstop snow whipping my face upon exiting the sumptuously warm haven that is this little crossoverÂ’s colorful interior. Chances are, very few EX30 buyers in the United States will find themselves in such extreme conditions that studded winter tires become a non-negotiable item. But hey, when the opportunity arises to put what is arguably one of the most exciting new EVs introduced in the past year through the sort of ice driving Volvo does while testing on the companyÂ’s Swedish home turf, the only reasonable answer is, “Yes, please.” WhyÂ’s the EX30 so exciting? There are 36,245 reasons why. Most new EVs are inarguably expensive propositions, but with a starting (and startling) price of just $36,245, the EX30 aims to buck that trend. Not only is it inexpensive in comparison to the vast majority of EVs on sale today, but on paper and in person, it looks like a car one would expect to cost significantly more. The EX30Â’s performance figures are a huge contributor to this disconnect. Its single-motor, rear-drive model produces 268 horsepower and 253 pound-feet of torque (0-60 mph in 5.1 seconds), while the dual-motor AWD model amps that up to a rocking 422 horsepower and 400 pound-feet of torque (0-60 in 3.4 seconds). The performance party trick here is that the EX30 is lightweight for an EV, coming in at just 4,140 pounds with AWD or 3,858 pounds with RWD – that comes in handy when youÂ’re on ice. The Bjorntrask Ice Track just outside the hamlet of Gulltrask is not easy to get to. First, one must find your way to the Baltic-adjacent town of Lulea, Sweden. ItÂ’s one of the most bustling towns in the remote landscape that is northern Scandinavia, and it just so happens to host a small airport, which sees about nine arriving flights per day. Lulea is far enough north that itÂ’s covered in a permanent blanket of snow from November until spring hits, and the snow coverage you see on the coast only increases the further one drives inland. Unlike most winter-stricken American states, Sweden doesnÂ’t use salt to help clear snow and ice from its roads. Instead, gravel is used in abundance, but frankly, itÂ’s not much help when snow consistently covers it right back up.

Volvo's $2.9 billion stock IPO is a key test in shift to EVs

Volvo Car AB is looking to raise 25 billion kronor ($2.9 billion) in a Stockholm initial public offering in a test for automakers amid the transition to electric vehicles. The Swedish carmaker, owned by China’s Zhejiang Geely Holding Group Co., is offering shares at 53 kronor to 68 kronor each (about $6-$8), according to a statement Monday.  The deal values Volvo Cars at as much as $23 billion, 11 years after the Chinese firm bought the business from Ford Motor Co. for $1.8 billion. The IPO is set to be EuropeÂ’s largest since January, according to data compiled by Bloomberg. The carmaker, with an ambitious plan to only sell full electric cars by 2030, plans to use the funds to add carmaking capacity so it can nearly double annual sales to more than 1.2 million vehicles. Volvo Cars also plans to construct a battery plant in Europe. “We have a very clear strategy to be an electric company in 2030 and weÂ’ve been on that journey for some years now,” Volvo Cars CEO Hakan Samuelsson said in an interview. “With this, of course, we can secure that transformation, because of course, itÂ’s not free of charge.” VolvoÂ’s projected market capitalization of about $20 billion compares to roughly $65 billion for BMW AG, while the German premium carmaker produces more than 2 million vehicles versus Volvo CarsÂ’ 660,000 last year. Newer entrants to the industry such as ChinaÂ’s Nio Inc. and Tesla Inc. have seen their share prices surge past traditional manufacturers even as they sell only a fraction of the number of vehicles. The IPO also comes less than a month after electric-vehicle maker Polestar, controlled by Volvo Cars and Geely, said it will go public in New York via a blank-check merger. The deal implies an enterprise value of $20 billion for the startup, with Volvo Cars expecting to hold a 50% stake in Polestar after it lists. While the century-old Swedish industry stalwart and Polestar have similar valuations, 4-year-old Polestar has a target of delivering only about 29,000 cars this year. Geely previously attempted to take Volvo Cars public in 2018, but called off the listing after investors were said to balk at its valuation expectations of as much as $30 billion.  A group of pension funds and institutional investors have committed to buying 6.4 billion kronor worth of shares in the IPO. The offering of as much as 21% of Volvo Cars runs through Oct. 27, and the shares are set to start trading in Stockholm on Oct. 28. Goldman Sachs Group Inc.

Nissan Z, the new Genesis G90 and some exciting future EVs | Autoblog Podcast #755

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. Greg has been spending time in the 2023 Nissan Z in Performance trim this week alongside a pair of Volvos — the 2023 S60 Recharge and 2023 V60 Cross Country. Meanwhile, Zac has been driving the stately and lovely Genesis G90. Next, they talk about the news, starting with the latest happenings in the Formula 1 world — Zac recently returned from the USGP down in Austin, Texas. The talk transitions to a preview of the Los Angeles Auto Show coming next week before leading into the reveal of the all-electric 2024 Volvo EX90. Lastly, the pair discuss the spy shots of the electric Porsche Boxster and dig into what it means to finally have an electric convertible on the way. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #755 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 2023 Nissan Z Performance 2023 Genesis G90 2023 Volvo V60 Cross Country 2023 Volvo S60 T8 Recharge News Formula 1 in America — the latest LA Auto Show Preview 2024 Volvo EX90 revealed Electric Porsche Boxster spy shots — first look Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.