On April 22 (local time), Volvo declared the formal commencement of production for its latest all-electric SUV, the EX60, in Sweden. The company projects a maximum annual production volume of 40,000 units for this model. Volvo's CEO, Håkan Samuelsson, noted that market demand has surpassed initial projections, with the main hurdle now being the delivery process. Amid a scenario where certain automakers are curtailing their electrification initiatives due to flagging market demand, Volvo's introduction of the EX60 further distances it from its rivals. Chief Commercial Officer Erik Severinson disclosed that they aim to set the price of the EX60 on par with that of the XC60 plug-in hybrid variant. The EX60 marks Volvo's inaugural model constructed on a completely new production platform, necessitating extensive factory refurbishments. Earlier, Volvo's delivery of all-electric models faced setbacks due to software malfunctions and supply chain constraints.