Volvo Cars Korea has officially launched its next-generation all-electric flagship, the ES90, in South Korea. Priced in the low 70 million won range, it is the most affordable model globally. Although classified as an E-segment (mid-size sedan), its pricing rivals that of D-segment (compact) vehicles and its quality exceeds that of F-segment (large) cars, aiming to surpass the dominance of Tesla and the German trio of BMW, Mercedes-Benz, and Volkswagen in the premium electric vehicle (EV) market.
On July 22, Yoon Mo, CEO of Volvo Korea, held a media briefing at the Grand Ballroom of the Grand Hyatt Seoul, stating, "The ES90 embodies all of Volvo's visions for electrification and software-defined vehicle (SDV) technology." He emphasized that considering Korea's global influence in the EV and SDV markets, the company negotiated for about six months to implement the lowest pricing strategy worldwide.
The entry-level trim of the ES90 is priced at 72.94 million won. Yoon noted, "There has never been a case where the ES90 has been launched anywhere in the world for under 100 million won, and it is over 50 million won cheaper than in Europe, where it costs 130 million won. This pricing is also more than 18 million won lower than the S90 T8 (PHEV) model currently sold in Korea, representing a highly aggressive pricing strategy." He added, "Instead of focusing on profitability, we aim to expand sales volume to make Korea Volvo's number one premium EV market."
The ES90 is an innovative model that combines the elegance of a sedan with the practicality of an SUV. It features a spacious interior with a 3.1-meter wheelbase and a clean Scandinavian design. To enhance passenger well-being, it comes standard with a four-zone automatic climate control system that filters out dust, pollen, and fine particles. The top-tier Ultra trim includes a 25-speaker Bowers & Wilkins audio system.
The ES90 is the first strategic model featuring Volvo's SDV technology, developed in collaboration with Nvidia and Qualcomm. This next-generation intelligent platform allows the vehicle to think, process information, and act autonomously. It integrates Volvo's proprietary electric architecture, core computer, zone controller, and software into a single system. With a core computing performance of 254 trillion operations per second (TOPS) based on Nvidia's Orin, the vehicle can enhance its performance and features through software updates, providing passengers with an evolving experience in safety, connectivity, and user experience.
Volvo's renowned 'safety space technology' has also been upgraded. Utilizing five cameras, five radars, and twelve ultrasonic sensors, the advanced sensing technology efficiently protects people inside and outside the vehicle. Next-generation pilot assist, blind-spot warnings, and steering assistance are among the safety features that can be tailored to driver patterns through AI-based machine learning. Additionally, the 'in-cabin passenger detection system' can sense pets, children, or infants left inside the vehicle, ensuring their safety.
The vehicle will be available in three powertrain options: a rear-wheel drive single motor with a 92 kWh battery, an all-wheel drive twin motor with a 106 kWh battery, and a twin motor performance variant. With an 800V high-voltage system, it can charge from 10% to 80% in about 22 minutes in a fast-charging environment of up to 350 kW, and a 10-minute charge can provide a range of approximately 300 km. Prices range from 72.94 million to 95.41 million won.
Since pre-orders began last month, the ES90 has already surpassed 1,000 units. Volvo Korea plans to increase annual sales of the ES90 to over 3,000 units by 2027, aiming for a total annual volume of over 10,000 units in the premium EV market. Yoon remarked, "Given that the value of the won has dropped by 16.1% compared to last year, the pricing of the ES90 means that the more we sell, the greater the losses will be. However, we have set an aggressive marketing strategy to lead the Korean electric sedan market, and we hope many Korean consumers will experience the ES90."
* This article has been translated by AI.
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