IN 2010 the Chinese giant Geely Holding, owned by billionaire Li Shufu, acquired the troubled Volvo Cars. Geely’s timely recapitalization of the Swedish automaker funded the can’t-tell-’em-apart product strategy that today brings us the fetching Volvo C40 Recharge, an all-electric compact crossover hatchback.

Apart from the cute bobbed roofline, the C40 Recharge ($60,540, as tested, before available tax credits) closely resembles its more squared-off SUV sibling, the XC40 Recharge, which is likewise virtually indistinguishable from gas-powered versions of the XC40. These fraternal triplets all share the same propulsion-agnostic vehicle platform, the same general interior décor, detail and display—including the new, Google-infused UX.

The major difference being that, in the Recharge models, the gas-burning guts are displaced with twin electric motors (402 hp combined), a 75.0-kWh battery pack and assorted high-power electronics.

If the strategy sounds familiar it’s because many of the biggest names in car-building, including BMW, have followed suit, introducing vehicle architectures designed to accommodate gas, hybrid or all-electric propulsion, in an effort to lower production costs. Volvo was way ahead of that curve.

“The C40 Recharge’s cabin décor is smart and chic, with design tastes sharp as a drafting pencil.”

The sweet and swift C40 Recharge signals the next phase in the plan. This is Volvo’s first dedicated EV model. The price is highway robbery and the virtue-signaling rewards are low, I suppose, given that it looks like any other Volvo. At least a few eco-warriors will wonder if it looks electric enough?

But it’s definitely tomorrow’s Volvo. Simply by nature of the mechanism, the battery-powered C40 is a more serene presence with which to commune and commute than any of its piston-powered stablemates: quieter, more refined and responsive; more integrated with its various driver-safety responses; and much, much quicker. The C40 Recharge lunges off the line to 60 mph in 4.7 seconds, roughly a second and a half quicker than a gas-powered XC40 T5, which it so closely resembles. Remember when you needed a Porsche 911 to haul off like that?

MISSION CONTROL The C40 Recharge’s touch-screen user interface uses Google Automotive Services and comes with a four-year subscription to a suite of Google apps. The interior is dressed with animal-free leather and assorted textiles sourced from recycled materials.

Photo: Volvo

But if you’re out there kicking the tires right now, the obvious closer is likely not acceleration but efficiency. For those able to charge at home at low overnight rates, the C40 Recharge’s next-to-nothing, pennies-per-mile costs will be like free money. The EPA estimates the Recharge’s average annual charging cost to be $750 (per 15,000 miles). For comparison, the XC40 T5, rated at 25 mpg combined, would rack up $2,900 at the pump. Over the term of a 48-month lease, the difference would sum to savings of $8,600 in favor of the C40 Recharge.

Moreover, the Recharge means never having to pump your own at some manky gas station. You will spend zero hours in line to buy discount gas at Costco, feeling like a chump. And the C40 Recharge is cute as hell, the pick of the litter. Of course you want one.

Downsides? Alas, there’s the exorbitant price, about which I’ll rant later. The 226 miles of EPA-estimated range is worrisome too. That’s roughly two-thirds the range of a Tesla Model Y Long Range or a Kia EV6 Wind 2WD. Skeptics will also note the observed range will decline in cold weather, or going uphill, as in the case of driving to a ski resort. And that, apart from Tesla’s Supercharger network, DC fast-charging infrastructure in the wild is far from reliable or convenient. I personally would not push the C40 past about 200 miles.

However, some voices in the reader mail have taken me to task for emphasizing maximum range, when—like 0-60 mph acceleration and top speed—the standard is nearly unobservable on a daily basis and therefore irrelevant for the vast majority of users. The more important metric, they assert, is maximum charging rate so that, on the rare occasion when EVs run out of range, users can top off with electrons quickly. Why pay for more battery than you will ever use?

Good note, thank you. I agree, to the extent that cars with smaller batteries and less range come with smaller price tags. But I’ll get to the Volvo’s banditry.

TOP SHELF The Volvo C40 Recharge Twin Ultimate trim level includes Volvo’s heated front and rear seats and steering wheel, a Harmon Kardon premium audio system and Volvo’s full suite of driver-assist safety functions, including adaptive cruise control and “semi-autonomous” Pilot Assist.

Photo: Volvo

The C40 Recharge is a little jewel box. The cabin décor is smart and chic, with design tastes sharp as a drafting pencil, executed in premium materials—including animal-free leather upholstery and trendy textiles made of recycled materials. I took to the new, Google-y user interface in the center touch screen right away. The kids approved of the Ultimate package’s heated rear seats.

The fit and finish of our tester was also excellent, except for one quirk: In the spot on the lower right dash where the gas-fired XC40’s Start button goes, our Recharge had a blank insert. I figure Volvo’s cabin crew will revise that.

To fence-sitters, apprehensive about the cost and availability of public EV charging—apartment dwellers, or those in rural areas or in neighborhoods with uptight HOAs—I feel you. But there has been some progress. The bipartisan infrastructure law passed in November includes $5 billion to help states add public charging, including in hard-to-serve rural areas and disadvantaged communities. Not to minimize the challenge, but infrastructure is a problem with a horizon.

In the meantime, I’ll stipulate my advice applies only to the four out of five new-car buyers who have access to dedicated off-street parking amenable to charging equipment (h/t “Charged” magazine contributor John Voelker). These folks most certainly want the Recharge. It’s just a better mousetrap.

There is still the unsavory matter of the C40 Recharge’s roughly $12,000 higher price than its high-spec siblings like the T5 Inscription. Um, what the hell, Volvo? I thought the point of shared platforms and commonality was to lower costs for everybody? The available $7,500 federal tax credit takes out some of the sting. The savings on fuel will help owners recoup the rest in a few years. But, Sven, you’re killing me.

I guess Volvo wants its cut up front.

2022 Volvo C40 Recharge Twin Ultimate

RAPID FIRE The Volvo C40 Recharge’s zero-to-60 mph acceleration is listed at 4.7 seconds against a curb weight of 4,817 pounds.

Photo: Volvo

Price, as tested: $60,540

Propulsion: Battery-electric with AC synchronous motors on front and rear axle; 75.0 kWh lithium battery pack; full-time AWD with regenerative braking.

System max power/torque: 402 hp/486 lb-ft

Length/wheelbase/width/height: 174.8/106.4/73.7/62.6 inches

EPA fuel economy: 94/80/87 MPGe city/highway/combined

0-60 mph: 4.7 seconds

Range: 226 miles

Cargo volume: 49 cubic feet

Charging: 11-kW onboard inverter; 10-80% recharge in under 40 minutes; 60 miles of range in 10 minutes