New Volvo EX60 due in January with range of more than 435 miles

Bell said the SPA3 is “a big step from a mechanical perspective, but from a software electronics perspective it’s a straight evolution”.

He added: “All the work we’re putting into the EX90 will go directly into the SPA3 cars as well. It’s basically the same software stack.

“SPA3 is designed from the beginning to be much more scalable, in size and price point and across regions, but also scalable in volume.

“It’s designed for scale in every dimension: when it comes to size, my job is to make sure that the company has optionality. We are designing [the SPA3] to be scalable from B to F [segments], to make sure that we have flexibility and that we can launch the products that markets decide they want when they want it.”

Since all future new Volvo models will share the same basic tech stack, Bell added that it will allow for more focused and rapid development. “Because it’s all one technology stack, there’s no repeat of work,” he said. “It’s the same software stack, same basic electrical architecture. Yes, it’s scalable in size, price and capabilities, but it’s not spreading our products in different ecosystems. 

“Everything we do gets married to the Volvo connected car cloud. If you look at successful tech companies, they’re all single tech stack companies where all their products are interlinked. Apple is a good example: hardware, software, telephones, laptops – they’re basically all interconnected with the same software. That’s one example of where we need to be converging as a technology company going forward.

“Our focal point is safety, sustainability and creating this fantastic customer experience, all wrapped in this Scandinavian design, on one tech stack.”

As previously revealed by Autocar, the EX60 will also be the first Volvo designed to benefit from megacasting – a technology set to be introduced with the SPA3 that allows for entire sections of a car to be created as a single part rather than multiple elements.

That, along with other changes and the more modular nature of the SPA3, will lower production costs.