In addition to reducing emissions and fuel consumption, electrified vehicles also aim to reduce running costs; handy, since they typically cost more to purchase than their conventionally-engined counterparts. To that end, Volvo offers one year of free electricity for the recharging of its plug-in hybrid vehicles. The free electricity will be provided through a refund for the average electricity cost during that period, the automaker said.

This was announced in parallel with the launch of the Volvo XC40 Recharge, a fully electric version of the XC40 SUV with a total system output of 402 hp and 660 Nm of torque, capable of 400 km range on a single charge from its 78 kWh lithium-ion battery.

Recharge is the name given to all fully electric and plug-in hybrid Volvos, and the XC40 Recharge is the marque’s first fully electric model. Volvo Cars is the only automaker to offer a plug-in hybrid variant on every model in its line-up, the company said.

The Swedish brand continues to push for the growth of electric vehicles on the market, aiming to make pure EVs 50% of its global sales by 2025, and the remainder from hybrids. Customers visiting the Volvo Cars website will first be asked whether or not they want a Volvo Recharge car from early next year, the company said, in addition to the electricity refund for one year of plug-in electrified Volvo ownership.

The company will triple the production capacity for its Recharge models, along with the preparation of Designer’s Choice range for popular Recharge models in order to reduce vehicle delivery times. All these go towards Volvo’s aim of becoming a climate-neutral company by 2040, it said.

GALLERY: Volvo XC40 Recharge