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Volvo India recently rolled out the first unit of the locally assembled XC40 Recharge electric SUV in India.
Now, the Swedish luxury car manufacturer has hiked the prices of the XC40 electric SUV in the country along with a few other of its models.
Diving into details, the locally assembled Volvo XC40 Recharge electric SUV is now priced at Rs 56.90 lakh (ex-showroom, India) - Which makes the electric SUV pricier by Rs 1 lakh. However, Volvo has not hiked the price of the Petrol Mild-Hybrid variant of the XC40 SUV in India.
Moreover, prices of the Volvo XC60 B5 Ultimate SUV and XC90 B6 Ultimate SUV have been hiked and these premium SUVs are currently priced at Rs 66.50 lakh (ex-showroom, India) and 96.50 lakh (ex-showroom, India), respectively. It is also worth mentioning that the prices of the Volvo S90 Petrol Mild-Hybrid sedan remain unchanged.
According to Volvo, the rising input cost due to the continued disruption of global supply chains has pressured the company to hike the prices of its models in India. However, Volvo is quick to mention that customers who booked its cars till 24th November will not be affected by the price hike.
"The rising global inflation has forced us to share some of the rising input cost with our consumers. We have decided to hold the price line for all vehicles booked till today and affect the rise on select models from 25th November 2022. Prices of S90 Petrol Mild-Hybrid and XC40 Petrol Mild-Hybrid will remain unchanged," said Mr Jyoti Malhotra, Managing Director, Volvo Car India.
Speaking about the Volvo XC40 Recharge, the electric SUV racked up more than 150 bookings within the first few hours of opening the bookings and the model sports an almost identical silhouette and common design elements such as Thor-hammer LED headlights, L-shaped LED taillamps, identical body lines, and a few more common design elements.
However, the Volvo XC40 Recharge does have some unique design elements to help the electric SUV stand out and this includes design elements such as a completely sealed front grille, a few 'Recharge' badges on the sides, a set of new 19-inch dual-tone alloy wheels, and a few more.
In terms of powertrain, the new Volvo XC40 Recharge is powered by two electric motors, powering each respective axles. These electric motors together push out 402bhp of peak power and 660Nm of peak torque. Moreover, the electric SUV is equipped with a large 78kWh lithium-ion battery pack.
Thanks to such a large battery pack, Volvo claims that the XC40 Recharge could do more than 400 kilometres on a single charge. Furthermore, the Volvo XC40 Recharge comes with an 8-year warranty on the battery pack and an 11kW wall box charger.
Despite the price hike, the Volvo XC40 Recharge's aggressive pricing opens up customers to the idea of owning an electric car, further accelerating the adoption of EVs in the country. However, we do think that the price hike will result in a minor dip in demand for the XC40 Recharge in India.