Volvo XC40 Recharge EV sold out in two hours in India

Volvo XC40 Recharge was officially launched in India at a starting price of ₹55.90 lakh (ex-showroom) on Tuesday and in just two hours of bookings for it being opened on Wednesday, all 150 units of the electric vehicle (EV) were sold out. The XC40 Recharge from Volvo is being locally-assembled and is the most-affordable luxury EV in the market at the moment.

Bookings for the Volvo XC40 Recharge were opened at 11 am on Wednesday on the company website and the company informed that all the available 150 units of the EV were sold out in just two hours. The company claims this is the quickest it has taken any luxury EV to be sold out.

Further, Volvo adds that it plans to continue taking customer orders for subsequent deliveries. Deliveries of the first 150 units of XC40 Recharge will be completed by the end of this year. “The overwhelming response on bookings in just two hours is a reflection of the consumer confidence in Volvo Cars," said Jyoti Malhotra, MD at Volvo Car India. “Our strategy of showcasing the car across our business partner locations and giving the prospective customers in these cities the opportunity to drive the XC40 Recharge has helped them in deciding."

While Volvo XC40 Recharge is the most affordable luxury EV in the market at present, it is also the country's first locally-assembled luxury EV and will roll out from the company facility in Hoskote near Bengaluru. Local assembly means that Volvo is able to keep a firm grip over the costs because imported units usually attract a higher tax structure. As such, there are other luxury auto manufacturers who are also gradually looking at local assembly of their respective EVs.

But while cost is an important aspect in deciding the fate of an EV, its performance and range are crucial as well. The XC40 Recharge is powered by a twon-motor set up and offers 408 bhp and 660Nm of peak torque. The motor is powered by a 78 kWh battery pack for a claimed range of over 400 kms per charge under ideal conditions. If sprint race - and not marathon - is what is after, the XC40 Recharge can fire to 100 kmph from standstill in 4.9 seconds too. And once the battery reaches low levels, it can be powered from 10 per cent to 80 per cent in 28 minutes using a 150KW fast charger.

Volvo is also offering several post-sales packages to customers of the XC40 Recharge. This includes a three years' comprehensive car warranty, three years' Volvo service package, three years' RSA (Roadside assistance) and eight years' warranty on the battery. Additionally, an 11 kW box charger comes with each unit and its price is included in the vehicle price.