Volvo recently announced that its first electric car will be an electric version of the compact XC40 crossover. The electric XC40 will arrive after the Polestar 2’s arrival in 2019, but we’re now hearing some hints at how much the fully electric XC40 will cost.

2018 Volvo XC40

Volvo’s CEO Hakan Samuelsson recently spoke to Wards Auto where he revealed that not only will the electric XC40 be profitable, but it will also be a bit more attainable than other luxury electric crossovers, like the Jaguar I-Pace. During the interview, Samuelsson hinted that the electric XC40 will have a price tag around $50,000. Wards Auto asked, if Volvo can profitably sell an EV “in the $50,000 range,” and the CEO said yes. “We are planning that should be a profitable car.”

“From day one (it will be profitable). I think we will have no intention or ambition to sell electric cars with losses.”

The fact that Volvo intends to make a profit on the electric XC40 is a stark contrast to other automaker’s who lose thousands of dollars on every electric car they sell. For example, Fiat loses around $20,000 on every Fiat 500e electric car it sells.

Source: Wards Auto