LOS ANGELES — Swedish automaker Volvo Cars has tiptoed into the electric vehicle market, making a safe choice with the platform du jour — a crossover.
The XC40 Recharge, unveiled here Wednesday, is a modified version of Volvo's fast-selling XC40 compact crossover. The EV trades the four-cylinder engine for a 75-kilowatt-hour battery.
The dual-motor XC40 Recharge is expected to arrive in U.S. stores in the second half of next year. The EV delivers up to 408 hp and can go from 0 to 60 mph in 4.7 seconds. It has an EPA-rated range of "more than 200 miles," Volvo said.
The XC40 EV is the vanguard of a series of emissions-free models from Volvo, which wants battery-propelled vehicles to account for half of its global sales by 2025. Over the next five years, Volvo said, it will launch a fully electric vehicle every year.
"We have said this several times before: For Volvo Cars, the future is electric," CEO Hakan Samuelsson said in a statement.
Volvo said Recharge will be the name of its subbrand of fully electric and plug-in hybrid vehicles. Plug-in hybrids are expected to make up 20 percent of Volvo's sales next year.
The automaker expects to triple production capacity of its electrified cars.