Volvo Cars is striving to strengthen its position in the European market, for which it is preparing a new model with the index EX50, an application for which recently appeared on the website of the European Union Intellectual Property Office (EUIPO).
We reported last week that a new station wagon might appear in Volvo's model lineup, but this is still unofficial information. However, the EX50 index discovered in the EUIPO electronic database indirectly confirms this information.
Currently, Volvo's model range consists mainly of crossovers, with only two traditional passenger cars remaining — the aging fuel-powered mid-size station wagon, the second-generation Volvo V60, and the unpopular flagship electric liftback, the Volvo ES90. An electric station wagon or crossover-wagon could occupy a place in the model lineup between the compact crossover Volvo EX40 and the mid-size crossover Volvo EX60, and it will most likely be unified on the same platform as the Volvo EX60.
The Volvo EX60 debuted earlier this year, based on the latest SPA3 electric vehicle platform with an 800-volt architecture — this platform has been officially named key for upcoming new Volvo models. Introducing a station wagon on this platform seems like a perfectly reasonable step, as this body type remains highly in demand in Europe, and Polestar, which split from Volvo Cars in 2017, will begin sales of its mid-size crossover-wagon, the Polestar 4 SUV, in September.
As it turns out, Volvo and Polestar are now competing with each other, and for both, the European market is key. For Polestar, Europe has arguably become its only significant market, as Polestar sales in China were halted last year due to low demand, and this year the company was effectively driven out of the US because of its Chinese roots.
Volvo, despite being, like Polestar, under the control of the Chinese holding company Geely, has not yet received a ban on operating in the US. In the second quarter of this year, it even managed to increase US sales by 4% to 42,360 vehicles, although only 4,125 of those were electric cars (-38% compared to sales in the second quarter of 2025), while Volvo considers itself primarily an electric vehicle company. Responding to this trend, Volvo is preparing new hybrid models with an eye on the US market, which, however, will also be in demand in Europe.
Volvo's sales in Europe in the second quarter grew by 2% to 104,259 vehicles, of which 38,115 were electric cars (a 25% increase compared to sales in the second quarter of 2025). In the so-called Greater China region (which includes Hong Kong, Macau, and Taiwan), Volvo's sales in the second quarter fell sharply by 35% to 24,882 vehicles, of which only 914 were electric cars (+20%). With this dynamic, Volvo may have to cease sales in China within a year or two, following Polestar, to avoid losses.
Recall that 2025 turned out to be a loss-making year for Volvo Cars, but in the first half of 2026, it managed to return to profit: net profit amounted to 1.1 billion Swedish kronor, or 100 million euros at the current exchange rate.
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