Volvo EX30 EV confirmed to be a CKD model in 2025 – likely to maintain same “discounted” price as CBU

The Volvo EX30 was launched in Malaysia today and arrives as a fully-imported (CBU) model from China. Offered here in three variants, the Swedish brand’s smallest electric SUV to date retails for between RM188,888 to RM228,888 – these are on-the-road figures without insurance.

Considering every Volvo model on sale currently, aside from the newly launched EX30, is a CKD offering, the question of whether the EX30 will eventually be locally assembled naturally came up during a press conference following the launch.

According to Volvo Car Malaysia (VCM) sales director Chris Tan, the EX30 will be a CKD model, with local assembly set to begin in 2025. What is unknown is if the EX30 will be exported to nearby markets, as Tan said that decision is in the hands of Volvo Car Manufacturing Malaysia (VCMM), an entity separate from VCM.

As for pricing, VCM did not say if the CKD version will be cheaper than the CBU, with the official response being that the company historically maintains the same price regardless of assembly location – look at the S60 as an example.

2024 Volvo EX30 price list; click to enlarge

Referring to the EX30’s official brochure, the starting price is RM188,888 on-the-road without insurance for the base Plus, stepping up to RM208,888 for the Ultra and RM228,888 for the Ultra Twin Performance. These prices, we noticed, are listed as “after sales tax exemption,” which is peculiar because CBU EVs are not exempt from sales tax but only import and excise duties until December 31, 2025.

Sales tax (along with excise duty) exemption (until December 31, 2027) only applies to CKD EVs, which the EX30 is currently not. If we look above the figures in bold, we find that the retail prices with sales tax included are higher at RM198,788.60 for the Plus, RM219,647.70 for the Ultra and RM240,911.70 for the Ultra Twin Performance. For those who want the math, the difference factoring in sales tax is between RM9,900.60 and RM12,023.70, depending on variant.

Could this be a case of VCM “absorbing” the sales tax so CBU buyers won’t feel hard done by being an early adopter when the CKD version is eventually rolled out? Perhaps, although the company isn’t confirming anything of the sort for now. We’ll find out more in the coming months as we near the CKD version’s introduction.

Looking to sell your car? Sell it with Carro.