Volvo revealed its first fully electric vehicle, the 2021 XC40 Recharge, in October 2019 and on Wednesday we learned the price. Part of the company’s larger effort to reduce carbon emissions, the EV crossover SUV will start at $53,990 before the available $7,500 federal tax credit.

The XC40 Recharge rides on the same Compact Modular Architecture platform as the gas-powered XC40. It places a 78-kwh battery pack under the front seats, and Volvo says the layout not only doesn’t affect interior space, but the vehicle also adds cargo space thanks to a new front trunk. A pair of 150-kw motors, one on each axle create, create a 402 horsepower and 448 pound-feet of torque to push the XC40 Recharge to 60 mph in 4.7 seconds. Volvo quotes a 248-mile range on the European WLTP cycle and 200 miles in the U.S., though EPA testing has not yet been performed.

An 80 percent charge will take 40 minutes on a 150-kw fastcharger and buyers will have access to the ChargePoint network that has more than 115,000 charging locations nationwide.

The XC40 Recharge will be the first Volvo to receive over-the-air updates for all on-board software, and it will debut a new Android-based infotainment system that Volvo developed with Google. The infotainment system will include Google assistant, Google Maps, and a variety of other apps. Google Maps will create routes to help drivers save energy and suggest locations for charging stations.

Standard equipment will include a 12.3-inch driver display and 9.0-inch center touchscreen, dual-zone automatic climate control, four USB-C ports, a panoramic sunroof, and 19-inch alloy wheels.

Options will include a $1,300 Advanced Package with headlight cleaners, Volvo’s Pilot Assist driver-assistance system, adaptive cruise control, a surround-view camera system, a 12-volt power outlet in the luggage area, and wireless smartphone charging. A $750 Climate package will come with heated windshield-wiper blades, heated rear seats, and a heated steering wheel. Volvo will also offer metallic paint ($645), lava carpet ($100), a 13-speaker Harman Kardon audio system ($800), and 20-inch alloy wheels ($800)

Volvo Chief Technology Officer Henrik Green said the XC40 Recharge will be the one of the safest Volvos ever. Among the standard safety features will be blind-spot monitors that will steer the vehicle away from cars in the blind spots, cross-traffic alerts, adaptive headlights, and a system that protects occupants if the vehicle runs off the road.

Volvo says it will have a plug-in hybrid for every vehicle it sells, and it will offer a year of free electricity for plug-in buyers. The company will offer a Sustainability Bonus in the form of a cash refund available through the Volvo on Call app. Volvo also plans to develop more plug-in hybrid powertrain options. Most plug-in hybrids use the T8 powertrain, which features a turbocharged and supercharged 2.0-liter 4-cylinder aided by a motor to produce at least 400 horsepower. The XC40 also offers the T5 Twin Engine, which uses a 1.5-liter 3-cylinder gas an electric motor to net 262 hp.

Green noted that building an electric car requires more energy than building a car with a combustion engine. To tackle this issue, Volvo will use renewable energy in its plants, expand its efforts on recycling, and collaborate with suppliers to reduce their carbon footprint.

The Swedish automaker will also promote using renewable energy to charge, and will provide a refund to owners for electricity used to charge the car after the first year of ownership. Volvo aims to reduce its carbon footprint by 40 percent by 2025 and go carbon neutral by 2040. The company says it will achieve its 2025 goal by reducing tailpipe emissions by 50 percent, its supply chain emissions by 25 percent, and its emissions from manufacturing and logistics by 25 percent.

The new Volvo XC40 Recharge is due by the end of the year.