This car was displayed back in March in Volvo's electric car portfolio for 2025. I'm suprised that media haven't taken it up as a rumor yet. So let's draw our own conclusions.
To me, this car still looks like a van and not like something like the Concept Recharge. The bonnet is much shorter, and the placement of the side mirrors also indicates a van.
Possibly, vans are a growing vehicle segment in the future, especially in combination with autonomous driving. For example, Tesla plans to build robotaxis, and in all the Hyperloop CGIs, there are Tesla vans with seating for something like 6 or 8 passengers. Meanwhile, Volkswagen has concrete plans for a six-seater ID.Buzz specifically targeting rideshare services (VW ID Buzz Getting Three Different Versions (motor1.com)). It's questionable if Volvo as a luxury car manufacturer would go in for autonomous vans, but who knows what they have in mind. The image above alone leaves much room for speculation.