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Swedish manufacturer Volvo has announced its first all-electric vehicle (EV) will offer a range of at least 250 miles (402km) and start between US$35,000-$40,000 ($46,238-$52,844) when it hit markets in 2019.

In a new report by industry journal Automotive News, Lex Kerssemakers, CEO of Volvo Car USA, is quoted saying if the company wants to do well in the States with this vehicle, it needs to meet these targets.

“That’s what I put in as the prerequisite for the United States,” Kerssemakers said. “If I want to make a point in the [US], if I want to make volumes, that’s what I believe I need,” he said.

It’s unknown whether the company’s first EV will be based on an existing model or if it will be a standalone offering, however Kerssemakers told the publication using Volvo’s existing modular platforms would allow it to meet the product timing schedule.

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Above: Volvo S90 T8 plug-in hybrid (PHEV)

The SPA platform underpins the 90 Series family, which includes the S90, V90 and XC90, while the smaller CMA platform will form the basis of the upcoming 40 Series range, including the soon-to-be-revealed XC40.

In January, the company filed a series of trademark applications for new models in the US and Europe, including the names V20, V30 – possibly hinting at sub-compact models – along with P5, P6, P8, P9 and P10.

The European document stated that the ‘P’ nameplates are for electric vehicles, while information in the US filing for V20 and V30 remains scarce.

It’s likely the ‘P’ badging refers to Polestar, Volvo’s performance sub-brand, which Kerssemakers hopes to become an electrification specialist in the future.

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With that in mind, it’s logical to assume the first Volvo EV will be a derivative of a current model, though which one still remains a mystery.

However, regardless of the form Volvo’s EV will take, Kerssemakers says it needs to have far more range than customers actually need.

“Why are people reluctant to buy a full electric car? It’s between the ears. It’s that they believe there’s not sufficient range,” he told Automotive News.

Stay tuned to CarAdvice for more updates.

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