The new coupe-shaped crossover will not become a successor to the V40 in the literal sense, but will play the role of a more compact variant in relation to the XC40. Its main differences are a lowered body profile, a sloping roofline, and design details that echo the electric Polestar 2.

The current V40 hatchback is the last in the Volvo lineup that has not yet switched to the new modular platforms SPA and CMA. Production of this smallest model of the brand will soon be phased out.