Volvo has quietly increased the price of its EX90 electric SUV by $3,300, surprising dealerships and reservation holders. The price hike was implemented on May 1, a month before the EX90 began production after facing nearly a year of delays. Volvo notified its dealers and reservation holders about the increase on June 26, also informing them that certain features would be missing on delivery, and workarounds would be implemented for unresolved issues like battery drainage while parked.
One of the notable omissions is a lidar-centric safety system that Volvo had initially touted as a standout feature, putting the EX90 ahead of its competition upon launch. Volvo assured reservation holders that the software gaps would be filled in during the “early ownership” phase, which is a common response from automakers facing EV challenges.
Surprisingly, there were no active forum threads discussing the price increase for the highly anticipated EX90, despite having over 10,000 preorders. However, a Reddit user shared their experience on June 27, expressing surprise at the increased price and destination fee of $1,295. The redditor’s account aligns with another potential buyer’s story shared with Automotive News, further confirming the lack of prior information provided by Volvo.
Additionally, the EX90 configurator now includes a note warning potential buyers that the expected delivery time for ventilated seats is unknown. This means that U.S. buyers may have to wait indefinitely for this feature.
The new Manufacturer’s Suggested Retail Prices (MSRPs) for the base Twin Motor EX90, including the $1,295 destination charge, are as follows:
– Plus 7-seater: $81,290
– Plus 6-seater: $81,790
– Ultra 7-seater: $85,640
– Ultra 6-seater: $86,140
Customers can add $5,000 to these prices for the Twin Motor Performance drivetrain. Both versions of the EX90 are powered by a 111-kWh battery supplied by CATL. The base model offers a total of 402 horsepower, 568 pound-feet of torque, and accelerates from 0-60 mph in 5.7 seconds. The performance version, on the other hand, delivers 496 horsepower, 671 pound-feet of torque, and achieves a quicker 0-60 mph time of 4.7 seconds.
Volvo attributed the price increase to rising materials costs, indicating that it was beyond their control. When the EX90 was initially announced, it had undercut its competitors in terms of pricing. However, with the price hike, it is now more expensive than the Mercedes-EQS EQE SUV and the Tesla Model X. Rivian’s updated R1S, which offers more power, faster acceleration, and slightly longer range, now also offers a lower entry price of $77,700.
It is important to note that even reservation holders who placed orders on the day the EX90 was unveiled are now required to pay the new price if they wish to proceed with their purchase. This update may result in more reservation holders canceling their orders, as many have already been frustrated by the production and software delays associated with the EX90. The question remains as to how much this latest increase will impact the number of cancellations.