The electric version of the Volvo XC40 small crossover SUV starts at $53,990 excluding destination, Volvo announced Wednesday.
Volvo's first electric vehicle, the 2021 XC40 Recharge comes with all-wheel drive thanks to a motor on either axle powered by a 78-kwh battery pack. The system makes 402 horsepower, and Volvo says it can hit 60 mph in 4.7 seconds and has a range of more than 200 miles. Final numbers will be specified when it goes on sale early in 2021.
While the price is in line with other luxury small crossover EVs such as the Tesla Model Y, it represents a $12,500 upcharge over a similarly equipped gas-only Volvo XC40 in top Inscription trim with all-wheel drive. Buyers of the 2021 XC40 Recharge could qualify for the full $7,500 federal EV tax credit, depending on their tax liability. That would dramatically reduce the gap between the gas XC40 and also undercut the Model Y and Audi E-Tron mid-size crossover SUV.
The Chevy Bolt and Nissan Leaf cost much less than the XC40 Recharge, but they're smaller electric hatchbacks rather than crossover SUVs.
Standard equipment on the 2021 Volvo XC40 Recharge includes an Android-based infotainment system equipped with Google apps (but compatible with Apple CarPlay), plus 19-inch alloy wheels, panoramic sunroof, a 12.3-inch digital instrument cluster, a 9.0-inch touchscreen, dual-zone climate control, and four USB-C ports. Standard driver assist features include automatic emergency braking front and rear, active lane control, blind-spot monitors with rear cross-traffic alerts, and adaptive headlights.
Over-the-air updates promise to keep the Volvo XC40 Recharge as fresh as a smartphone, and Volvo has partnered with ChargePoint to offer fast charging locations across the country for a fee not yet disclosed. The XC40 Recharge can fast charge up to 80% in 40 minutes, Volvo said.