The XC40 Recharge Twin, like all Volvos, is expensive to buy, whether on finance
or outright, because Volvo prides itself on being a premium brand like Mercedes-Benz, BMW, Audi and Jaguar Land Rover. And, like all electric cars
, the Recharge Twin is pricier still, because batteries
are currently expensive. But it is worthwhile looking at the total cost of ownership, which is where electric car owners start to claw their money back. For example, the XC40 Recharge Twin currently incurs zero per cent Benefit In Kind
(BIK) for company drivers
, though it’s worth pointing out this incentive may not last forever. You’ll also pay no congestion charge for entering certain cities, no VED
(road tax) and servicing costs are lower due to fewer moving parts. On top of that, electricity is cheaper than fuel, especially when charging at home
on an off-peak domestic tariff, and electric cars can cost about £11 for 200 miles compared with anywhere between £20 and £40 depending on which fossil-fuelled car is taken into account.