Closing Bell

Volvo Unveils Compact Electric SUV

And Volvo is introducing a smaller all electric SUV that targets first time buyers. The automaker hopes a smaller cheaper electric vehicle will help convince budget conscious buyers to go electric. The E X 30 model is much smaller than Volvo's seven seater 90 which is set to roll out of factories next year with a hefty price tag of $100,000. Well, it's hoping the larger 90 will compete with companies like Tesla and Mercedes Benz. While it's smaller 30 is geared toward cost conscious consumers like college grads last year, Volvo sold 615,000 vehicles worldwide and s accounted for 11% of those sales.