Volvo?s electric car, expected in 2019, could prove a formidable rival to the Tesla Model 3 and the Chevrolet Bolt EV as well as top-trim versions of the next-generation Nissan Leaf and several other longer-range EVs that are due out around that time. That?s because Volvo Car USA CEO Lex Kerssemakers recently revealed one eye-opening target for the project: a base price between $35,000 and $40,000.
Like the Model 3 and the Bolt, Volvo?s as yet unnamed electric model is expected to offer a range of 250 miles or more. Although there are a few automakers that think electric cars don?t need to go for maximum range?Honda, for instance?the consensus within the industry is that range sells.
Premium badges add appeal, too, and Volvo?s plan illustrates the different ways in which luxury brands plan to jump into the EV market. The Jaguar I-Pace, for instance, is expected to play in Tesla Model X territory, with a starting price well over $60,000. At $40,000, Volvo, on the other hand, would be offering a premium-badged electric vehicle for roughly the same price as some mainstream-brand models. Volvo?s lowest-priced U.S. model at present is the S60 sedan, at $34,945, although the new EV plus the return of the smaller 40-series vehicles, anticipated to start arriving late next year, will give the automaker a smorgasbord of entries in the $30,000-to-$40,000 range.

The EV is likely to share some elements with Volvo?s Compact Modular Architecture (CMA) platform, which will underp...