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Volvo XC40 Recharge to sell for nearly $56K?

The company's first EV is expected to go on sale next year.

Volvo apparently plans to give the XC40 Recharge a premium price tag when the all-electric crossover arrives on the market.

Final pricing details have not been officially announced, though the company has mentioned it is aiming for "under $48,0000" after the $7,500 federal incentive is subtracted, pointing to a target of around $55,500, according to Ars Technica.
The price represents a significant jump over the XC40's $34,345 base price. The T5 AWD edition is a closer match with a $36,345 sticker, though its 248 horsepower still falls short of the Recharge's 408 horses.
The Tesla Model Y will likely serve as the competitive benchmark in terms of performance and value. The company has not confirmed pricing details, however the crossover is expected to start at less than $45,000.
Volvo will presumably announce its XC40 Recharge pricing structure closer to the 2020 production kickoff.

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