Volvo has confirmed that it is working on a second compact electric car that will share architecture with its XC40 Recharge EV. The Geely-owned Swedish automaker is planning to elaborate on its updated electrification roadmap in early 2021.

CEO Hakan Samuelsson told Automotive News Europe that the rumors of a sleeker small EV are true. However when we reported back in March that Volvo was working on an all-electric "C40" entry, the dealer quoted in the original story said that Volvo was targeting the low-cost segment. Per Samuelsson, that's not necessarily true.