Volvo's new EV costs the same to lease as a Tesla Model Y Premium

Key Points:

• Volvo has launched the 2027 EX60 midsize electric SUV starting at $58,400, making it nearly $23,000 cheaper than its larger EX90 and less expensive than competitors like the BMW iX3, which starts at $61,500.
• The base EX60 model offers up to 307 miles of driving range, with a higher-end P10 AWD version providing up to 322 miles; a future P12 model will deliver up to 400 miles but still less than BMW's iX3 range of 434 miles.
• Leasing the EX60 costs $599 per month for 36 months with $6,409 due at signing, which is more affordable than the BMW iX3 lease at $798 per month but comparable to Tesla Model Y Premium RWD leases when adjusting for down payments.
• Despite the EX60's lower purchase price, competitors like the Hyundai IONIQ 9 offer similar or better leasing deals with added incentives, such as a $617 monthly lease with the same down payment for a larger three-row SUV with a 311-mile range.
• Test drives for the EX60 will begin later this summer with deliveries following soon after, and Volvo’s current lease offer is valid through June 30, 2026; interested buyers can also explore deals on other electric SUVs currently available.