Volvo Car USA CEO Lex Kerssemakers recently shed some light on their upcoming EV in 2019 with a very affordable price that definitely beat the Tesla Model 3, Nissan Leaf, and Chevrolet Bolt EV. Apparently, Volvo is currently working on a project that will have a range of 250 miles with the base price of $35,000 and $40,000.

Car and Driver indicated that the Volvo's EV is likely to have some elements of a Compact Modular Architecture (CMA) platform, which underpins its 40 series of compact vehicles. Aside from the price level, Volvo is aiming to be with the minimum range of capacity to its rivals so that it could easily cannibalize the Bolt EV's  sales when it goes on sale in 2019.

Meanwhile, Tesla is planning to have Model 3 to be out before then, yet the first vehicles delivery is expected to be at the higher price, and the $35K Model 3 will not actually ship until with the same time as Volvo's creation. The car enthusiasts recall that Volvo introduced two design concepts of an electric vehicle last May 2016.

According to Digital Trends, there is no other premium auto manufacturer claimed to develop a long-range electric vehicle in a $40,000 domain. Meanwhile, considering the teased price of the Volvo's upcoming EV, there are notes claimed that the new model will seem to be a sedan, rather than SUV type.

The publication explains that the upcoming Volvo EV will be based on the concept that is revealed its target for the range last year. The public also saw that 40.1 compact crossovers and the 40.2 sedan variant pointed to the direction of Volvo's next-generation XC40 crossover and an S40 sedan.

Like any other brands, Volvo is also expected to introduce more plug-in hybrids and electric vehicles including the front-wheel-drive hybrid versions. As of time, Volvo has not yet revealed the name of the upcoming electric car, yet it integrated with a dual-clutch automatic gearbox.