Volvo Cars Sells Out 2,000 Premium Electric Vehicles... "Price Competition Worked"

C40 Recharge 1,500 Units and XC40 Recharge 500 Units Sold Out in 5 Days of Pre-Orders
High Product Value and Aggressive Pricing 8.9 Million KRW Lower Than in the US Drive Pre-Order Sellout

Volvo Cars Korea unveiled the brand's first coupe-style pure electric SUV, the 'C40 Recharge,' on the 15th at Dongdaemun Design Plaza (DDP) in Seoul. CEO Lee Yun-mo is posing with the vehicle. Photo by Moon Ho-nam munonam@

[Asia Economy Reporter Yoo Hyun-seok] Volvo Cars Korea announced on the 21st that all 1,500 units of the pure electric vehicle ‘C40 Recharge’ and 500 units of the ‘XC40 Recharge,’ which started sales on the 15th, were completely sold out within 5 days.

To popularize premium electric vehicles, Volvo plans to secure additional inventory in response to the high customer demand for the C40 Recharge and XC40 Recharge.

The C40 Recharge is Volvo Cars’ first coupe-style electric sports utility vehicle (SUV) and a key focus of Volvo’s electrification strategy. It features a dual motor and all-wheel-drive system, state-of-the-art safety systems embodying Volvo’s 95-year history of safety, premium convenience features, an electric vehicle-exclusive Tmap infotainment service, and a digital package. Volvo Cars Korea cited this high product quality and a striking price competitiveness of 63.91 million KRW?8.9 million KRW lower than in the U.S. and 22 million KRW lower than in Germany?as the main reasons for the pre-order sellout.

The C40 Recharge enhances user convenience by adding electric vehicle-specific functions to the ‘Tmap Infotainment Service’ and ‘Volvo Cars App,’ which provide connectivity between the driver and the vehicle. Drivers can check in real-time via Tmap Auto and voice commands equipped with an EV-specific algorithm: ▲estimated battery charge upon arrival when searching for destinations ▲drivable range based on remaining battery ▲automatic recommendation and route addition of nearby charging stations ▲battery status monitoring.

Additionally, the ‘Volvo Cars App’ allows remote real-time monitoring of vehicle status, including driving range based on battery condition, vehicle charging status, and charging schedule reservations. Furthermore, an OTA (Over-The-Air) wireless software update service is provided free of charge for 15 years.

The powertrain, combining dual electric motors and an all-wheel-drive system, delivers high-performance driving with a maximum output of 408 horsepower and maximum torque of 67.3 kg·m. It accelerates from 0 to 100 km/h in just 4.7 seconds. The ‘shift-by-wire’ system, which requires no gear shifting, and the one-pedal drive mode provide the unique driving pleasure of an electric vehicle. The maximum driving range per charge is 356 km, equipped with a 78 kWh high-voltage battery that can be fast-charged to 80% in 40 minutes.

Other features include the Topography Deco finish offering a new Scandinavian interior experience, a fixed panoramic glass roof, Harman Kardon premium sound system, a clean zone interior package equipped with a 360-degree camera and indoor air purification system, wireless smartphone charging, and two USB Type-C ports as standard. It also includes advanced safety systems that consolidate Volvo’s expertise, such as Pilot Assist, collision avoidance support, and City Safety. Additionally, it offers industry-leading free warranty and consumable replacement services for 5 years or 100,000 km, and a free warranty for the high-voltage battery for 8 years or 160,000 km.

Despite combining dual motors, all-wheel drive, and SUV features with premium packages and warranty services, the C40 Recharge and XC40 Recharge were launched at aggressive prices of 63.91 million KRW and 62.96 million KRW, respectively, under Volvo Cars Korea’s pricing strategy.

Yoon Mo Lee, CEO of Volvo Cars Korea, said, “We deeply appreciate the great interest and support from domestic customers who helped the successful launch of the C40 Recharge, a core strategic model marking the start of Volvo Cars’ electrification.” He added, “We will continue our relentless efforts to provide differentiated Swedish luxury value by leveraging Volvo’s strengths in the electric vehicle market.”

Meanwhile, full-scale customer deliveries will begin in April at Volvo’s official showrooms nationwide.

This content was produced with the assistance of AI translation services.