Based on the XC40, this is the first vehicle Volvo will offer exclusively as an EV
Based on the currently available XC40 small SUV, the C40 Recharge starts at $58,750 before tax credits. It can only be ordered online. As is the case with many new vehicle launches, buyers can preorder the C40 Recharge before it goes on sale.
The new C40 Recharge appears to be designed to fill a very specific niche. It combines the ride height of an SUV with just the cargo space of a hatchback car—a concession for styling. However, it has a higher starting price than the more versatile all-electric XC40 Recharge it’s based on.
Other more affordable EVs include the Tesla Model 3 and Model Y, the Ford Mustang Mach E, and Volkswagen ID.4, all of which are have a longer range than the C40.
The new Volvo EV also competes directly against the Polestar 2, another electric car from Geely, the Chinese automaker that is also Volvo’s parent company. The price difference between the Polestar 2 and the XC40 Recharge is minimal.
There are some sweeteners: The C40 currently still qualifies for a full $7,500 federal tax credit (EVs from GM and Tesla do not because those automakers have sold too many electric vehicles; the tax credit is designed to jump-start sales), and Volvo will throw in some free and discounted charging as well.
Like the XC40 Recharge and the Polestar 2 model with long range and all-wheel drive, the C40 will have a dual-motor setup and 78-kilowatt-hour battery. However, some paint colors and leather-free interiors will be unique to the C40.