The Volvo XC40 Recharge is the brand’s first electric vehicle in its lineup and has been around since 2021 with its electric powertrain. However, it hasn’t seen the sales it probably should have. This overlooked luxury EV has enough to give the Tesla Model Y a run for its money. Here are three reasons why you should consider the XC40 Recharge over Tesla’s entry-level electric SUV.
1. The 2022 Volvo XC40 Recharge has a lower starting price
The base model (Twin) of the Volvo XC40 Recharge begins at an estimated $53,000. If you step up to the next trim, the Twin Plus, you’ll pay an extra $4,000 to start, according to Car and Driver. The highest trim available, the Twin Ultimate, has a price tag of $60,000 (estimated).
Regarding the Tesla Model Y, the base version, the Long Range model, starts at $67,440, over $7,000 more than the highest trim available on the XC40 Recharge. Stepping up to the highest trim, which is the Performance model, you can expect to pay another $4,000, and that’s before adding any packages.
You get pretty similar vehicles when you compare the two electric SUVs. Volvo’s XC40 Recharge model has a dual motor setup that produces 402 hp, while the Tesla Model Y gets 384 ponies.
Acceleration times aren’t too far off either. The XC40 EV manages a 4.3 second time for a 0 to 60 mph run, while the Model Y clocks in at 4.4 seconds for the Long Range trim and 3.6 for the more expensive Performance version.
2. A shorter time charging with a 240-volt charger
While the Tesla Model Y has a more extended driving range, charging times for it is 11.5 hours if you use a 240-volt charging system. That’s about 3.5 hours more than what you could get with the Volvo XC40 Recharge model. You can get the 75 kWh battery charged up and ready to go in 8 hours.
Tesla does have several fast charging stations sprinkled throughout the country, which is great if you happen to be traveling long distances. Volvo’s XC40 Recharge has access to fast charging stations around the country as well, but you can top off the battery at home in no time at all.
3. The Volvo XC40 Recharge still has the federal tax credit available
As with many Volvo vehicles, the XC40 Recharge is eligible to receive the full $7,500 back in federal tax credit. Some of the brand’s electric and hybrid cars will not be eligible for the full amount but will still qualify for a smaller portion of the money. That helps car buyers tremendously with prices as high as they are right now.
Tesla, however, is no longer able to have the credit applied to its vehicles. The brand has sold more than 200,000 units of all of its EVs, which is the maximum number allowed under federal law before the incentive expires. Of course, Tesla hasn’t qualified for it for quite a while now, at least since mid-2019. Other automakers, like GM, have also been phased out of the tax credit program after selling the maximum of electric vehicles.
Both electric SUVs are fine vehicles to drive, but if you compare the Volvo XC40 Recharge with the Tesla Model Y, you’ll find that the XC40 EV has a leg up on Tesla. It’s cheaper than the base version of the Model Y, it charges faster on a 240-volt electrical system, and you can save a few thousand dollars more with the tax credit program.