2021 Volvo XC40 Recharge Price Puts Luxury Electric SUV in Sweet Spot

Christian Wardlaw | Oct 21, 2020

Volvo has priced its new electric vehicle (EV), the 2021 XC40 Recharge. When the SUV arrives later this year, it will carry a base price of $53,990, plus a destination charge of $995.

2021 Volvo XC40 Recharge P8 AWD Glacier Silver Charging Station

This pricing puts the XC40 a few thousand dollars higher than a Ford Mustang Mach-E Premium ($49,700 with optional all-wheel drive) and a Tesla Model Y ($49,990). It also prices the Volvo lower than other luxury EV SUVs such as the Jaguar I-Pace ($69,850) and the Polestar 2 ($59,900).

People who buy a Volvo XC40 Recharge are eligible for a federal income tax rebate of up to $7,500. Also, some states offer rebates for EVs, such as California. Recent rule changes limit the Golden State’s EV rebate to $2,000, and vehicles must cost less than $60,000. Owners must also meet specific personal income caps. Equipped with popular options, the price of a 2021 Volvo XC40 Recharge remains under $60,000.

The XC40 Recharge is equipped with standard AWD and makes 402 horsepower. Thanks to its 486 lb.-ft. of instant electric motor torque, it accelerates to 60 mph in 4.7 seconds, according to Volvo. The EPA says it can travel 208 miles on a full battery, which is less than primary competitors. Volvo doesn’t offer an extended-range battery option, either.

Understanding that range anxiety is a barrier to EV purchases, Volvo has partnered with EV charging network ChargePoint to alleviate such concerns. With operations in 18 countries, ChargePoint provides access to 115,000 charging locations. It has peer-to-peer roaming agreements with multiple charging station providers, meaning that with a single payment account, an XC40 Recharge owner can use Electrify America, EVgo, and other chargers without added complication. 

Through this partnership, XC40 Recharge buyers can easily purchase a ChargePoint Home Flex home charging station ($699) and arrange for installation, further simplifying EV adoption.

Volvo is the source of information in this article. It was accurate on October 21, 2020, but it may have changed since that date.

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