• Volvo is delaying the start of production of its EX90 electric SUV.
• Originally, the first units were to be produced at the end of this year for shipment in early 2024.
• The company says it needs more time for software development and testing.
Currently, Volvo has two all-electric models, the XC40 and the C40. Two other models are in the works - the larger EX90 SUV we saw up close in Toronto earlier this year, and the smaller EX30 that’s about to make its debut.
Yesterday, however, Volvo had some bad news to share about the EX90. The automaker is postponing the start of production of its model. The reason? The company needs more time for software development and testing.
The announcement of the postponement caused the company's shares to fall by 5%.
Assembly of the model will now begin in the first half of 2024, says the statement issued by the company.
Volvo, majority owned by Chinese giant Geely, wanted to deliver the first units of the EX90 to its dealers in early 2024. Production was supposed to start at the end of this year. So we're talking about a delay of about six months.
The company didn't mention when the EX90 will arrive at dealerships, but if production is launched before July 2024, we can guess that the model will be in showrooms during the summer or early fall.
We'll have to see if the company moves the model-year to 2025 rather than 2024.