Volvo Cars has officially stepped into the all-electric vehicle market with the introduction of the Xc40 Recharge, their first ever fully electric car. This groundbreaking model not only marks Volvo’s foray into the EV sector but also debuts the company’s new “Recharge” car line concept, signaling a significant shift towards electrification.
The XC40 Recharge isn’t just another electric SUV; it’s a fully electric iteration of the award-winning and highly successful XC40 compact SUV. This model represents a pivotal moment for Volvo Cars, embodying their commitment to an electric future while being the first Volvo vehicle to feature a brand-new infotainment system powered by Google’s Android operating system.
Looking ahead, Volvo Cars is committed to launching a new fully electric vehicle annually for the next five years. This ambitious plan aims to make fully electric cars constitute 50 percent of their global sales by 2025, with the remaining half comprised of hybrid models. “Recharge” will serve as the overarching name for all of Volvo’s chargeable vehicles, encompassing both fully electric and plug-in hybrid powertrains.
Starting in early 2020, visitors to the Volvo Cars website were greeted with a clear choice right from the outset: whether they were interested in a Volvo Recharge car or a traditional model. To further incentivize the adoption of electric driving, every Volvo Recharge plug-in hybrid model came with an enticing offer of free electricity for the first year, delivered as a refund equivalent to the average electricity cost during that period.
“We have consistently stated that the future for Volvo Cars is electric,” emphasized Håkan Samuelsson, Volvo’s Chief Executive. “Today signifies a major leap in that direction with the unveiling of our fully electric XC40 and the Recharge car line.”
The XC40 Recharge delivers everything expected of a Volvo, enhanced by a cutting-edge, fully electric all-wheel-drive powertrain. This setup provides a driving range exceeding 400 km (WLTP) on a single charge and boasts a robust power output of 408 horsepower. Utilizing a fast-charger system, the battery can be charged to 80% of its capacity in a mere 40 minutes.
Front view of the Volvo XC40 Recharge showcasing its modern design.
The integrated Android-powered infotainment system seamlessly works with Volvo On Call, Volvo’s platform for digital connected services. Through Volvo On Call, drivers of plug-in hybrid vehicles can monitor their electric driving time and usage.
To accommodate the anticipated surge in demand for Recharge vehicles, Volvo Cars announced plans to triple their production capacity for electrified cars. Furthermore, starting the following year, they would introduce a ‘Designer’s Choice’ selection of popular Recharge models, aiming to significantly reduce delivery times. Volvo Cars set a target for plug-in hybrid vehicles to represent 20 percent of their total sales in 2020.
Volvo Recharge lineup demonstrating the variety of models available with electric powertrains.
Every Volvo model in their lineup is offered with a Recharge option, spanning from the compact XC40 SUV, through the 60 Series range, to their flagship XC90 large SUV. Volvo Cars stands out as the only automaker providing a plug-in variant for every model they produce.
The XC40 Recharge and the Recharge car line serve as tangible proof points of Volvo’s ambitious new action plan, also launched alongside the vehicle. This plan outlines concrete steps aligned with the Paris Climate Agreement and reinforces Volvo Cars’ commitment to becoming a climate-neutral company by 2040. More details on Volvo Cars’ climate plan can be found HERE.
Volvo Car Group in 2018 Highlights
- In 2018, Volvo Car Group reported an operating profit of 14,185 MSEK, up from 14,061 MSEK in 2017.
- Revenue for the same period reached 252,653 MSEK, compared to 208,646 MSEK.
- Global sales in 2018 hit a record 642,253 cars, a 12.4 percent increase from 2017.
- These results underscore Volvo Cars’ financial and operational transformation, positioning them for future growth.
About Volvo Car Group
- Founded in 1927, Volvo Cars is a globally recognized premium car brand, selling 642,253 cars in approximately 100 countries in 2018.
- Since 2010, Volvo Cars has been owned by Zhejiang Geely Holding of China.
- In 2018, Volvo Cars employed around 43,000 full-time employees.
- Headquartered in Gothenburg, Sweden, with key functions also in Shanghai, China.
- Main car production plants are located in Sweden, Belgium, USA, and China, with engine and component manufacturing in Sweden and China.
- Volvo Cars’ purpose is to provide customers with the Freedom to Move in a personal, sustainable, and safe manner.
- By the mid-2020s, Volvo aims for half of its global sales to be fully electric, and half of all cars offered via subscription services, with one-third of sales expected to be autonomous vehicles.
The Volvo XC40 Recharge connected to a charging station, emphasizing its electric capabilities.
