Volvo today announced the new XC40 Recharge will have a starting price of $64,950 CAD when it arrives in Canadian showrooms later this year.
The Swedish automaker began production of the XC40 Recharge in September at its facility in Ghent, Belgium. The EV marks the first step in the Swedish automaker’s plans to reduce its CO2 footprint per car by 40% in the next five years.
Unfortunately the high price point means the XC40 will not be eligible for the federal iZEV rebate in Canada. The program sets a limit of $55,000 for EVs with less than 7 seats in order to receive the $5,000 rebate.
For that price, customers will get a 78kwH battery pack pushing out 402 horsepower and 486 lb-ft of torque in the AWD configuration.
To help ease range anxiety for owners, Volvo also announced today a partnership with ChargePoint. The deal, which covers both Canada and the US, will allow XC40 owners to charge at “most” of the more than 115,000 stations.
“A partnership with ChargePoint gives Volvo a way to break down the number one barrier to EV adoption, which is the ability to quickly and easily get a charge,” said Anders Gustafsson, Senior Vice President, Americas, and President and CEO, Volvo Car USA LLC. in a press release.
Owners will also have the option to purchase a ChargePoint Home Flex charger when they take delivery of their new EV.
If you’re interested in the XC40 Recharge in Canada, be prepared for a long wait. The automaker recently revealed all units slated for 2020 production are already accounted for.