The first Volvo XC40 plug-in hybrid will be priced from $64,990 plus on-road costs when it launches in Australia within months.
That will make the XC40 Recharge Plug-In Hybrid, as it is officially known, the new range-topper of the award-winning compact SUV line-up.
However, it’s set to be exceeded in price by the battery-electric version of the Volvo XC40, the Recharge Pure Electric, when it arrives around mid-2021.
Currently, the three-variant Volvo XC40 range starts at $46,990 and tops out at $56,990 plus on-road costs, and is powered exclusively by an orthodox 2.0-litre turbo-petrol engine.
Logical electrified competition for the XC40 PHEV include the $57,200 MINI Cooper Countryman PHEV and upper models of the Lexus UX 250 (non plug-in) hybrid range, while the pure-electric Hyundai Kona is priced marginally higher at $60K-plus.
There are quite a few PHEV and hybrid SUVs that undercut the XC40 on price, including the top-selling Totota RAV4, but on the flipside the plug-in XC40 is the cheapest electrified Volvo you can buy.
Volvo already offers plug-in hybrid versions of the XC60 and XC90 SUVs and S60 and V60 passenger cars in Australia, with pricing starting at $84,990 for the S60 R-Design PHEV.
The Volvo XC40 PHEV combines a 134kW/265Nm 1.5-litre turbo three-cylinder petrol engine with a 61kW/160Nm electric motor fed by a 10.7kWh lithium-ion battery pack.
The combined 195kW output drives the front wheels via a seven-speed dual-clutch automatic transmission. A 46km driving range is claimed, along with a WLTP-rated 2.0L/100km fuel consumption average.
Volvo also claims a 7.3sec dash to 100km/h and a top speed of 204km/h.
Fast-charging the battery takes a minimum 2.5 hours, while a conventional three-pin plug takes between 3.5 and six hours.
Volvo Car Australia has also revealed further electrified variants coming our way in 2021 could include Polestar Engineered plug-in versions of the S60 and V60.
However, the arrival timing for the Polestar 2 EV remains a work in progress.