"Today we take a major new step in that direction with the launch of our fully electric XC40 and the Recharge auto line". The vehicle is part of the company's larger effort to reduce carbon emissions.
Volvo Cars says it plans to launch a fully electric auto every year for the next five years.
Volvo wants you to get used to the word "Recharge", because this is the label it will attach to all future electric and plug-in hybrid models, starting with the fully electric XC40 Recharge that you see here.
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As an added bonus, Volvo is also offering free electricity for a year to those who buy its Recharge plug-in hybrid models. As one of the few electric cars on mixed platforms with combustion engines, the XC40 Recharge will have a "frunk" under the front bonnet - for the charging cable, however, the storage compartment seems only practical to a limited extent, because the charging socket is not located at the front, but instead replaces the tank nozzle above the left rear wheel.
Volvo presented its first battery-electric auto, based on the compact SUV XC40.
That means that after incentives, the XC40 Recharge will likely cost U.S. consumers around $50,000. Volvo quotes a 248-mile range on the European WLTP cycle and 200 miles in the US, though EPA testing has not yet been performed.
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The XC40 is all-wheel drive, with a total output of 408hp, giving a 0-62mph time of 4.9 seconds. 150-kilowatt DC fast charging is also possible, and in that case, Volvo says the XC40's battery can achieve an 80% charge in just 40 minutes.
The XC40 Recharge also features an Android-powered infotainment system that integrates with Volvo's On Call digital connected services platform that tracks electrified drive time.
"We are transforming our company through concrete actions, not symbolic pledges", said CEO Håkan Samuelsson. The hip and charming five-seater isn't just important because of its propulsion system, but also because it's the brand's first-ever electric vehicle.
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Volvo has just launched what they claim is one of the most ambitious plans in the industry, which would see them reduce their lifecycle carbon footprint per vehicle by 40% between 2018 and 2025. As early as 2025, half of Volvo's worldwide vehicle sales will be accounted for by electric cars, the rest by hybrid vehicles. The Swedish automaker will also promote using renewable energy to charge, and will provide a refund to owners for electricity used to charge the vehicle after the first year of ownership.