Volvo is targeting Tesla's Model 3.

Volvo's very first series-produced electric car is taking shape. We don't know its name yet, but one of the Swedish company's top executives has revealed it will take on the Tesla Model 3.

The model will offer at least 250 miles of driving range, according to Lex Kerssemakers, the boss of Volvo's U.S. division.

"That's what I put in as the prerequisite for the United States. If I want to make a point in the United States, if I want to make volumes, that's what I believe I need," he explained in an interview with Automotive News.

In comparison, the Chevrolet Bolt offers 238 miles of range. The Tesla 3 is expected to boast a 215-mile range in its most basic configuration, but buyers will be able to pay extra for a bigger battery pack that bumps that figure up to around 275.

Officially, Volvo hasn't decided if its upcoming EV will launch as a standalone model like the Bolt, or whether it will be an electric variant of an existing car. Either way, it will ride on the modular SPA platform that underpins 90-series models like the XC90 and the S90.

The battery-powered Volvo is still on track to arrive in showrooms in 2019, meaning it might break cover as early as next year. When it lands, its base price will lie between $35,000 and $40,000 before tax incentives are factored in.

Note: Volvo Concept XC pictured.