Yes the current model V40. These shots were released several months ago now and despite what the article says they are not pictures of the new XC40. They are pictures of the current model V40 on a prototype CMA platform that will be used to underpin the 40 series Volvos (like the SPA platform is/will be used for the next generation 90 and 60 series models).
http://www.autoblog.com/2016/05/12/volvo-teases-new-concept-ahead-of-debut/Volvo released a teaser for a new concept based on the company's new Compact Modular Architecture. Volvo is calling it a concept, but even with this lone teaser, it looks like whatever is coming will have a near-production vibe.
There's a headlight and and a little bit of grille. But these both have Volvo telltales – the Thor's-hammer motif in the headlights and the grille is typically rectangular. Combined with the lamps, this means Volvo's new compact concept should share the handsome, refined face of its bigger brothers. That's the stuff we can see for certain.
Beyond that, let's do a spot of speculating. First, look at the black plastic around the wheel arches. Then, consider the upright nature of the fascia and the way the height of the hood increases as it goes back towards the windshield. Could this be a crossover? That'd fit with a report from last October, which pointed to the CMA platform underpinning an XC40 CUV. Based on the name of the platform and Volvo's nomenclature, such a vehicle would likely challenge the Lexus NX, BMW 1 Series, and Audi Q3 in a segment that just happens to be one of the hottest in the industry.
Volvo will showcase the other 95 percent of this new vehicle, along with some other concepts, next week during a primer in Gothenburg, Sweden. Check back then.