Although the excellent Volvo XC40 is one of our favorite subcompact luxury SUVs, the battery-electric version known as the XC40 Recharge is a bit of a harder sell on paper, even though Volvo EVs are performing well on the sales charts. Quite simply, the XC40 Recharge's high starting price puts it at a disadvantage against models like the Ford Mustang Mach-E and Tesla Model Y, despite the Volvo's many attributes. For the 2022 model year, Volvo has made one significant update to the XC40 Recharge that makes it a bit more competitive. The EV now boasts improved efficiency figures and a range on a full charge that has increased by 15 miles. You'll have to pay even more for the 2022 model, though.

According to the EPA's official website, the 2021 XC40 Recharge had an MPGe rating of 85/72/79 city/highway/combined and a range of 208 miles. The 2022 XC40 Recharge's numbers are 92/79/85 MPGe and a range of 223 miles. As before, the XC40 Recharge's powertrain allows it to accelerate from 0-60 mph in under five seconds, and power is distributed to all four wheels. Cole Marzen, a Twitter user known for uncovering leaked images and more, revealed that 2021 XC40 Recharge models will also be able to benefit from the increase in range via a planned software update. That's good news for existing owners of the SUV.

Pricing for the 2022 Volvo XC40 Recharge will start from $56,395 including the $1,095 destination charge, and the range-topping model will now cost $59,245. By comparison, the 2022 Ford Mustang Mach-E begins at a much more affordable $43,995 including its own destination charge. For almost the same price as the range-topping XC40 Recharge, you can have the quicker Mach-E GT with a 0-60 time of under four seconds. This Mach-E has a targeted EPA-estimated range of 270 miles according to the Ford website, so it wins in that aspect too. Still, at least Volvo has managed to improve its SUV's range and a few extra miles is never a bad thing.