Lee Min-hyung joined The Korea Times in 2014 and has worked as a journalist mainly in Korea’s finance, tech and automotive industry. He specializes in content creation, breaking news and in-depth analysis currently on transportation and mobility. You can reach him via mhlee@koreatimes.co.kr.
Volvo Car Korea unveils ES90 flagship all-electric sedan
Volvo Car Korea CEO Lee Yoon-mo, right, poses with Oscar Bertilsson Olsborg, head of global commercial operations at the carmaker, during a launch event showcasing the all-electric ES90 sedan in Seoul, Wednesday. Courtesy of Volvo Car Korea
By Lee Min-hyung
Carmaker sets annual sales target of 3,000 for electric sedan
Volvo Car Korea introduced the all-electric ES90 flagship sedan on Wednesday, featuring what the carmaker described as “unusually aggressive pricing" aimed at broadening the appeal of premium electric sedans in one of its most important markets.
Starting at 72.94 million won ($49,200), the ES90 is priced at a level that undercuts comparable luxury electric vehicles. The price is more than 50 million won below prices in major European markets, the carmaker said. The company said the pricing reflects the importance of the Korean market in its global electrification strategy.
The ES90 is one of Volvo's two key electric models for Korea this year, alongside the EX90 flagship SUV launched in April. The sedan will compete against premium rivals, including the Mercedes-Benz EQE, BMW i5 and Genesis Electrified G80, but Volvo is seeking to differentiate the model by offering flagship technology at a significantly lower entry price.
“The sales target is more than 3,000 vehicles next year, and the strategic pricing will come as a major appeal of the premium vehicle,” Volvo Car Korea CEO Lee Yoon-mo told reporters during the vehicle's launch event in Seoul.
Rather than positioning the ES90 solely as a traditional large sedan, Volvo said the vehicle combines the elegance of a sedan, the practicality of a fastback and the spaciousness of an SUV, allowing it to appeal to a broader range of premium buyers.
Volvo Car Korea's ES90 flagship sedan / Courtesy of Volvo Car Korea
The launch also signals Volvo's push to establish software-defined vehicles as the centerpiece of its next-generation lineup. The ES90 is built on the automaker's latest SPA2 architecture and features Hugin Core, Volvo's new intelligent computing platform developed in collaboration with Nvidia and Qualcomm.
Safety remains the model's defining feature, strengthening Volvo's longstanding brand identity, the automaker said.
The ES90 is equipped with the company's latest Safe Space Technology, combining five cameras, five radars, 12 ultrasonic sensors, interior sensors and artificial intelligence (AI)-based machine learning to continuously refine driver assistance based on individual driving behavior.
The ES90 is available with three powertrain configurations built on Volvo's new 800-volt battery architecture, enabling charging from 10 percent to 80 percent in about 22 minutes.
The longest-range version is capable of traveling up to 706 kilometers under the Worldwide Harmonized Light Vehicle Test Procedure testing standard. The ES90 sedan is equipped with batteries from China’s CATL, but the carmaker left open the possibility of sourcing batteries from Korean firms, such as LG Energy Solution, for future models.
Volvo Car Korea is also pairing the launch with one of the industry's most comprehensive ownership packages, including an eight-year or 160,000-kilometer high-voltage battery warranty.
"The ES90 represents the culmination of Volvo's vision for electrification and our next-generation flagship technologies," Lee said.
"By combining intelligent software, industry-leading safety and premium quality with exceptionally competitive pricing, we hope to make the future of luxury mobility accessible to a much wider range of Korean customers."