Volvo has announced the pricing for the all electric XC40 in the UK and the price is r ather high at £53,155 . Put another way, that's a thousands pounds more than base price for the XC90.

That price converts to roughly $65,000 in the US, but car prices are rarely a straight conversion thanks to production costs and trim differences. For instance, the XC90, which starts at roughly the same price in the UK, starts at $48,350 in the US.

Exactly how much it will cost in the US is still not known, but this pricing announcement from the UK should hopefully provide a clue.

The announcement also heralds the creation of a new sub-brand: Recharge. All Volvo EVs will sit under the brand, of which there will reportedly be five more in the next five years.

Volvo claims that the XC40 Recharge will achieve 250 miles between charges and be capable of generating 402 hp and 486 lb-ft of torque. The interior will be largely the same as the standard XC40, but will include the new Google-powered infotainment system.