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2021 Volvo XC40 Recharge priced at $54,985

The final piece of the puzzle for the 2021 Volvo XC40 Recharge is falling into place today, two weeks after official EPA range information became available. Volvo just announced pricing, and it’s going to start at $54,985, including the $995 destination charge. Of course, buyers can also expect to take advantage of the $7,500 federal tax credit (and other state credits) with their XC40 Recharge purchase. That makes the total dent in the wallet $47,485 for a base crossover, or even cheaper depending on what state you live in. There isnÂ’t a long list of available packages and options, but Volvo detailed a few of them for us. The most expensive is the Advanced Package that adds VolvoÂ’s Pilot Assist driver assistance system, a 360-degree camera, wireless phone charging, a 12-volt outlet in the luggage area and a headlight cleaning system for $1,300. The Climate Package adds a heated steering wheel, heated rear seats and heated wiper blades for $750. And the last important option weÂ’ll point out is a heat pump for $350. Volvo says the heat pump can precondition the cabinÂ’s temperature and extend battery range, so it feels like a no-brainer for such a cheap price. Compared to the XC40 RechargeÂ’s direct competition, the crossover is priced in the same ballpark. A Tesla Model Y Long Range is $49,990. The base Ford Mustang Mach-E with all-wheel drive starts at $46,695. Neither the Ford nor the Tesla are perfect comparisons, though. The XC40 is both smaller and more premium than both of those options. WeÂ’ll note that itÂ’s not a huge stretch to go from the XC40 Recharge to the Polestar 2 that begins at $61,200, a $6,215 climb above the base XC40 Recharge. 2020 Volvo XC40 Recharge View 23 Photos Charging network Volvo also announced that itÂ’s beginning a collaboration with ChargePoint as the official charging network for the XC40 Recharge. That will give owners approximately 115,000 places to charge their electric crossover, though Volvo is light on the details for now. We asked, and Volvo said that an announcement about charging software integration is coming soon. DonÂ’t expect free charging to be part of the deal though, as Volvo tells us thatÂ’s not part of the companyÂ’s “immediate plans.” The partnership will allow owners to purchase a ChargePoint Home Flex charger for their home at the time of their XC40 purchase, but we donÂ’t have pricing on this option yet. You can place an order for the electric crossover on VolvoÂ’s website now.

VW, Rivian, Nissan, BMW, Genesis, Audi and Volvo lose EV tax credits starting tomorrow

The U.S. Treasury said Monday that Volkswagen, BMW, Nissan, Rivian, Hyundai and Volvo electric vehicles will lose access to a $7,500 tax credit under new battery sourcing rules. The Treasury said the new requirements effective Tuesday will also cut by half credits for the Tesla Model 3 Standard Range Rear Wheel Drive to $3,750 but other Tesla models will retain the full $7,500 credit. Vehicles losing credits Tuesday are the BMW 330e, BMW X5 xDrive45e, Genesis Electrified GV70, Nissan Leaf , Rivian R1S and R1T, Volkswagen ID.4 as well as the plug-in hybrid electric Audi Q5 TFSI e Quattro and plug-in hybrid (PHEV) electric Volvo S60. The Swedish carmaker is 82%-owned by China’s Zhejiang Geely Holding Group. The rules are aimed at weaning the United States off dependence on China for EV battery supply chains and are part of President Joe Biden's effort to make 50% of U.S. new vehicle sales by 2030 EVs or PHEVs. Hyundai said in a statement it was committed to its long-range EV plans and that it "will utilize key provisions in the Inflation Reduction Act to accelerate the transition to electrification." Rivian declined to comment and the other automakers could not immediately be reached for comment. Treasury also disclosed General Motors electric Chevrolet Bolt and Bolt EUV will qualify for the full $7,500 tax credit. GM said earlier it expected at least some of its EVS would qualify for the $7,500 tax credit under the new rules, including the 2023 Cadillac Lyriq and forthcoming Chevrolet Equinox EV SUV and Blazer EV SUV. Treasury said all GM EVs will qualify. Earlier, Ford Motor and Chrysler-parent Stellantis said most of their electric and PHEV models would see tax credits halved to $3,750 on April 18. Treasury confirmed the automakers' calculations. The rules were announced last month and mandated by Congress in August as part of the $430 billion Inflation Reduction Act (IRA). The IRA requires 50% of the value of battery components be produced or assembled in North America to qualify for $3,750, and 40% of the value of critical minerals sourced from the United States or a free trade partner for a $3,750 credit. The law required vehicles to be assembled in North America to qualify for any tax credits, which in August eliminated nearly 70% of eligible models and on Jan. 1 new price caps and limits on buyers income took effect.

Volvo S60 Polestar entering limited production in Australia [w/video]

The Volvo S60 Polestar Concept may be entering limited production in Australia and, depending how the Aussies take to this Swedish super sports sedan, could then be made available worldwide. The news comes from Austrlia's GoAuto, which claims to have received early info from its sources inside Volvo and its tuning/motorsport arm, Polestar.
Polestar released a short teaser video this week (watch it below) of what appears to be the S60 Polestar Concept clipping the snowy apex of an ice track's turn. The only information given with the teaser were the words "Limited Edition. Soon in Australia." Unveiled last June, the S60 Polestar concept has since made the rounds at auto shows, visited Jay Leno's Garage, played on the track with its future competition, and even secured a home for itself with a buyer who reportedly is paying Volvo some $300,000 to own it.
The S60 Polestar Concept is about the meanest machine one can imagine making out of Volvo's sports sedan. Packing 508 horsepower and 424 pound-feet of torque from its heavily modified T6 engine, then routing those revolutions through a six-speed manual transmission to all four wheels, the S60 Polestar is said to cover the sprint to 62 miles per hour in 3.9 seconds. A lower and wider body, brakes by Brembo, suspension bits by Ohlins and a diet to delete some weight make this car a serious issue for M3 and C63 AMG owners everywhere. GoAuto's sources say the production version's performance will be dialed back a bit from the concept's, but we'll have to wait until Volvo and Polestar make this sedan's production official to find out by how much.