Electric Variation Available
By Colin Ryan
Updated June 28, 2024
The 2024 Volvo XC40 Recharge is an all-electric subcompact luxury SUV with both style and substance. And a new single-motor version has an impressive range of 293 miles. Pricing starts at $52,450.
There’s a gasoline-powered XC40, and there’s this, the Recharge, which is propelled solely by electrons. Both vehicles share the same platform, which also underpins the coupe-like C40 Recharge electric vehicle (EV).
This year, Volvo has extended the XC40 Recharge’s maximum range figure to 293 miles by way of a new single-motor powertrain. The twin-motor version, meanwhile, sees its range increase to 254 miles — an improvement of 31 miles over last year, which it needed if it was going to be a credible contender against rivals like the Audi Q4 e-tron (265 miles) and Mercedes-EQ EQB (250 miles). That said, the Tesla Model Y still rules this particular roost with a maximum of 330 miles.
Nevertheless, the 2024 XC40 Recharge comes with a lot of standard safety equipment, enjoys excellent build quality, and comes with a major car company’s backing and other advantages.
The gasoline-powered Volvo XC40 and the slinkier C40 Recharge each have separate reviews.
This latest model year marks the arrival of a single-motor version with rear-wheel drive and a fairly impressive range of 293 miles. The all-wheel-drive twin-motor version has its range increased to 254 miles.
The midlevel Plus trim gains a cabin air purifier, and the top-tier Ultimate receives pixel technology headlights with cornering lights. There are also some new colors, along with fresh designs of the 19-inch alloy wheels on the Core and Plus versions.
2024 Volvo XC40 Recharge pricing starts at $35,000 for the XC40 Recharge Core Sport Utility 4D, which had a starting MSRP of $55,395 when new. The range-topping 2024 XC40 Recharge Ultimate Sport Utility 4D starts at $40,500 today, originally priced from $61,745.
Original MSRP | KBB Fair Purchase Price (national avg.) | |||
|---|---|---|---|---|
$55,395 | $35,000 | |||
$58,345 | $39,800 | |||
$61,745 | $40,500 |
The Kelley Blue Book Fair Purchase Price for any individual used vehicle can vary greatly according to mileage, condition, location, and other factors. The prices here reflect what buyers are currently paying for used 2024 Volvo XC40 Recharge models in typical condition when purchasing from a dealership. These prices are updated weekly.
Rivals include the Audi Q4 e-tron and Tesla Model Y, both starting in the $50K region. The Mercedes-EQ EQB kicks off in the mid-$50s. And the Genesis GV60 is more like $60K.
Before buying a new Volvo XC40 Recharge electric SUV, check the Kelley Blue Book Fair Purchase Price to know what you should pay. The XC40 Recharge enjoys respectable resale values, slightly stronger than the Q4 e-tron, for example.
The new single-motor powertrain of the all-electric 2024 XC40 Recharge SUV makes 248 horsepower and, more importantly, 310 lb-ft of torque. Torque creates thrust, which is better perceived and appreciated in everyday driving.
A great attribute of electric motors is the ability to deliver torque from a virtual standstill. So the single motor can accelerate from 0 to 60 mph in less than 7 seconds, which is brisk even if it’s not breathtaking. And if anyone is concerned about the unusual (for Volvo) rear-wheel-drive layout and the possibility of losing the tail end when cornering quickly or making an evasive maneuver, we say don’t worry. This car comes from a company renowned for its “safety first” approach.
The twin-motor version comes with a slightly different setup than last year, with the happy outcome that torque is increased by a smidge (technical term; actually 8 lb-ft) and range improves to 254 miles. The sprint to 60 mph takes around 4.5 seconds, thanks to the standard all-wheel-drive system’s ability to apply power to the road. Nor does it run out of punch at higher speeds, thanks to 402 horsepower. If that amount of muscle were in a combustion-powered car, fuel bills would be high.
In both versions, the weight of the battery pack is offset by placing it below the floor, keeping the center of gravity nice and low for stability.
Volvo has achieved conflicting objectives with the XC40 Recharge electric SUV. It has created a useful amount of space in a subcompact footprint. Plenty of storage areas manage to fit within a clean and uncluttered design. And comfort coexists with style and technology. Volvo offers tailored wool blend upholstery with the Ultimate trim for those who would rather not have leather.
There’s been no compromise by making this version of the XC40 all-electric. There’s the same amount of space for occupants and cargo as the gasoline-powered counterpart. Actually, this Recharge adds another storage area under the hood, ideal for accommodating the charging cable.
The rear legroom of 36.1 inches is merely passable. Not as good as the Audi Q4 e-tron’s 37.2 inches or the Tesla Model Y’s 40.5 inches (the Model Y is six inches longer, though). The luggage area measures 16 cubic feet. Folding the rear seats down creates 57.5 cubic feet of cargo space. Again, this figure lags behind the Tesla Model Y’s but inches past the Audi Q4 e-tron’s capacity.
Google Built-In
This standard Google-based infotainment system uses Google Maps for navigation, allows users to download other apps from the Google Play store, has the ability for over-the-air updates, and can be controlled using natural speech. Yes, it’s an Android-fest, but standard Apple CarPlay allows the integration of iPhones as well.
Digital driver information display
Exactly what a modern electric car should have, a 12.3-inch configurable display capable of providing all sorts of specialized information. Another standard feature in every new XC40 Recharge.
One-pedal driving
One-pedal driving is where the (selectable) level of brake energy regeneration is strong enough to slow the vehicle down without the driver having to press the brake pedal. It’s all done by varying the pressure on the accelerator pedal. It soon becomes second nature and great to have in frenetic city traffic.
Pilot Assist
In tandem with adaptive cruise control, Pilot Assist makes small steering inputs to keep the XC40 Recharge in its desired lane. This doesn’t add up to hands-free driving but cuts down on fatigue during long freeway stretches. It’s standard equipment in the Ultimate trim.
Climate pack
This includes a heated steering wheel, heated rear outboard seats, and a heat pump (transferring warmth from the drivetrain into the cabin). It’s an optional bundle for the Core or Plus models and is standard with the Ultimate version.
Pixel technology headlights with active bending lights
Multiple LEDs provide superb and safe illumination yet won’t dazzle other drivers. Active bending lights move with the steering to shine into the next corner. These features are newly standard in the top Ultimate trim.
Rear-Wheel Drive (RWD)
New this year, the single-motor version of the 2024 XC40 Recharge places its one electric motor on the back axle to make this a rare animal — a rear-wheel-drive Volvo. Output is 248 horsepower and 310 lb-ft of torque. That’s a little more than its fossil-fuel counterpart. Maximum range is 293 miles. A larger-capacity battery than the twin-motor version results in a fairly brisk charging time of 28 minutes to go from 10% to 80% using a DC fast charger.
All-Wheel Drive (AWD)
This year sees a modified drivetrain going into the Twin Motor model. Instead of identical units on both axles, the front has slightly less power than before, while the rear has more. The combined output is 402 horsepower and 494 lb-ft of torque. For the sake of efficiency, the front motor only comes into play when necessary. This version’s maximum range is 254 miles. Using the 10%-to-80% metric, the charging time is 37 minutes.
Single Motor
248 horsepower
310 lb-ft of torque
EPA combined fuel economy: 106 MPGe (118 city, 95 highway)
EPA-estimated range: 293 miles
Twin Motor
Dual electric motors
402 total horsepower
494 lb-ft of total torque
EPA combined fuel economy: 99 MPGe (106 city, 91 highway)
EPA-estimated range: 254 miles
The XC40 Recharge has received a Top Safety Pick+ commendation from the Insurance Institute for Highway Safety (IIHS) and the maximum 5-star overall score from National Highway Traffic Safety Administration (NHTSA).
Volvo’s new-vehicle warranty lasts four years or 50,000 miles, whichever happens first. The battery is covered for eight years or 100,000 miles. These are all typical for the luxury electric vehicle (EV) sector.
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Year | Vehicle Depreciation* | Resale Value | Trade-In Value | ||
|---|---|---|---|---|---|
2024 | - | $55,395 | $55,395 | ||
2025 | $20,126 | $35,269 | $31,895 | ||
Now | $2,169 | $33,100 | $26,800 |
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2-Year Forecasted Depreciation
*Depreciation for the last 12 months of the private party resale value.
Annual Depreciation is an estimation of what your vehicle's value might be over time based on an average of similar vehicles. Estimations are calculated by comparing Kelley Blue Book Private Party Values of vehicles similar to yours over time, as well as forecasts from Manheim Auction data comparing current and projected auction values against current Kelley Blue Book Private Party and Trade-In Values. This is not a guarantee of actual depreciation. Local weather conditions, market factors and driver performance will also impact your vehicle's actual depreciation.
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Curb Weight | 4650 lbs. | ||
|---|---|---|---|
Front Head Room | 37.6 inches | ||
Front Leg Room | 40.9 inches | ||
Max Seating Capacity | 5 | ||
Minimum Ground Clearance | 7.1 inches | ||
Overall Length | 174.8 inches | ||
Front Shoulder Room | 56.7 inches | ||
Towing Capacity, Maximum | 2000 lbs. | ||
Trunk or Cargo Capacity | 57.5 cu.ft. | ||
Turning Diameter | 37.4 feet | ||
Wheel Base | 106.4 inches | ||
Width with mirrors | 80.1 inches |
Alloy Wheels | Available | ||
|---|---|---|---|
Number of Doors | 4 doors | ||
Privacy Glass | Available | ||
Roof Rails | Available | ||
LED Headlights | Available | ||
Rear Spoiler | Available |
City | 90 MPGe | ||
|---|---|---|---|
Combined | 98 MPGe | ||
Highway | 106 MPGe |
Drivetrain | AWD | ||
|---|---|---|---|
1 speed | Available | ||
Hill Descent Control | Available | ||
Hill Start Assist | Available | ||
Parking Assist System | Available |
Horsepower | 402 hp | ||
|---|---|---|---|
Torque | 494 foot pounds | ||
Engine | Dual Electric Motors | ||
Estimated Electric Range | 254 miles | ||
Charge Time (240V) | 8 hours | ||
Battery Capacity | N/A | ||
0 to 60 | 4.6 seconds |
Basic | 4 years / 50000 miles | ||
|---|---|---|---|
Powertrain | 4 years / 50000 miles | ||
Corrosion | 12 years / Unlimited miles |
Forward collision warning
This is standard in every new XC40 Recharge. It includes pedestrian and cyclist detection, plus automatic emergency braking.
Blind Spot Information System (BLIS)
Volvo was one of the first car companies to introduce this technology, as it has with other safety systems. Most of us know it as blind-spot monitoring, warning drivers of nearby vehicles in other lanes. This standard setup also includes rear cross-traffic alert, steering assistance, and automatic emergency braking.
Oncoming Lane Mitigation
This prevents the driver from crossing the dividing line by adding some steering assistance — yet another standard feature.
![]() Used 2024 Volvo XC40 Recharge | ![]() New 2026 Hyundai IONIQ 5 | ![]() New 2025 Chevrolet Equinox EV | ![]() New 2025 Hyundai Kona Electric | ||
|---|---|---|---|---|---|
| Price | $35,000 | $36,600 | $34,995 | $34,470 | |
| KBB.com Rating | 4.5 | 4.7 | 4.4 | 4.4 | |
| Consumer Rating | 3.6 | 4.3 | 5.0 | 3.6 | |
| Fuel Economy | City 90/Hwy 106/Comb 98 MPGe | City 131/Hwy 100/Comb 115 MPGe | City 117/Hwy 99/Comb 108 MPGe | City 131/Hwy 105/Comb 118 MPGe | |
| Fuel Type | Electric | Electric | N/A | N/A | |
5 Year Cost To Own 5-Year Cost to Own includes out of pocket expenses like fuel and insurance, plus the car’s loss in value over time (depreciation). | N/A | N/A | $43,887 | $47,732 | |
| Estimated EV Range | 254 miles | 245 miles | 319 miles | 200 miles | |
| Safety Rating | N/A | N/A | 5.0 | N/A | |
| Seating Capacity | 5 | 5 | 5 | 5 | |
| Basic Warranty | 4 years or 50000 miles | 5 years or 60000 miles | 3 years or 36000 miles | 5 years or 60000 miles | |
| 0-60 | 4.6 seconds | N/A | N/A | N/A | |
| Horsepower | 402 HP | 168 HP | N/A | 133 @ 3600 RPM | |
| Engine | Dual Electric Motors | Electric Motor | Electric Motor | Electric Motor | |
| Drivetrain | AWD | RWD | FWD | FWD |
The best performers in testing lost just 14% of their range in the cold – better performance than most internal combustion engines.
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Yes, the 2024 Volvo XC40 Recharge is a good car, as reflected by its above-average Kelley Blue Book rating of 4.5 out of 5.
Used 2024 Volvo XC40 Recharge prices currently range from $35,000 for the Core Sport Utility 4D to $40,500 for the Ultimate Sport Utility 4D when purchasing from a dealership, depending on a range of factors like equipment, mileage, and condition.
The cheapest 2024 Volvo XC40 Recharge is the Core Sport Utility 4D, with a Kelley Blue Book Fair Purchase Price of $35,000.
The 2024 Volvo XC40 Recharge is part of the 1st-generation XC40 Recharge, which our owners give an above-average reliability rating of 5 out of 5.