The automaker did not disclose the EX90's battery cell supplier or its sourcing of the critical component, but said it would partially qualify for the new U.S. EV tax credit under the Inflation Reduction Act.
The EX90 will be sold alongside the mild and plug-in hybrid versions of the XC90 crossover.
With its new EV, Volvo joins a bustling segment in which Tesla, Mercedes-Benz and BMW currently elbow for market share.
Volvo Car USA CEO Anders Gustafsson expects the EX90 to appeal to Volvo loyalists looking for zero-emission transportation.
"I'm convinced that the highest share will come from our current XC90 customers," he said.
Gustafsson also sees Volvo XC40 and XC60 crossover customers upgrading to larger vehicles as their families grow.
The EX90 is one of the few three-row EVs aimed at the mainstream EV market.
But it will be more than a year before Volvo's newest flagship arrives in stores. Volvo Canada said Wednesday that Canadian deliveries are expected to begin in early 2024, and all Canada-bound Volvo EX90 models are expected to be built in North America, at our plant in Ridgeville, SC. EX90 production will begin in late 2023. The factory is projected to build about 60,000 units in 2024, according to U.S.-based forecasting firm AutoForecast Solutions.
The long lead time, Gustafsson said, will help build awareness and enthusiasm for the high-tech model, which includes lidar sensors for the first time in a Volvo, along with bidirectional charging capability.
The automaker will take the EX90 on a U.S. road show next year, using the "mobile showroom" to educate dealers and consumers on the new technology.
"To prepare for such a high volume of electric cars in our brand, we need to educate our dealers' employees," Gustafsson said.
There’s no word on a Canadian tour.