2023 Volvo XC40 vs 2024 Chevrolet Equinox EV

In Volvo speak, “40” denotes an entry-level model. While the Swedish automaker no longer rosters the S40 sedan or V40 wagon in North America, the XC40 subcompact crossover remains to compete with the likes of the Audi Q3, the BMW X1, the Lexus UX, and the Mercedes-Benz GLA for aspiring luxury-car owners’ dollars.

The XC40 was unveiled in 2017, arriving as a 2019 model, and it hasn’t undergone a redesign since. An all-electric Volvo XC40 Recharge variant joined the lineup as a 2021 model. Volvo’s other current EV, the C40 Recharge, is also broadly similar to the XC40 models, but with a coupe-like body style.

For 2023, Volvo gave the XC40 several notable updates, including new mild-hybrid powertrains, revised styling, and the Android-based infotainment system previously seen on the XC40 Recharge and other Volvo models.

The mild-hybrid lineup includes base Core, mid-level Plus, and top Ultimate trim levels, with standard B5 all-wheel drive (AWD) drivetrains (the B4 front-wheel drive, or FWD, version offered in the US is not available in Canada). This Volvo XC40 review is based on the Ultimate trim in B5 AWD spec.

The 2024 Chevrolet Equinox EV trades on the established Equinox nameplate to help ease the transition to battery-electric power, but the Equinox EV is just that: an EV, from the ground up. Its dedicated architecture is wholly independent of the internal-combustion-engined (ICE) Equinox compact SUV. In Canada, it’s available in 2LT, 2RS, 3LT, and 3RS trims. Accounting for current availability puts base MSRP at $48,199 before fees for the 2LT, but that will fall when the 1LT trim level becomes available in 2025.

Verdict: The Equinox EV does exactly what its name promises, offering the benefits of electric power in a comfortable package, and at a price point that’s hard to beat.