Volvo is set to debut an all-electric variant of its XC40 compact SUV, which could  be seen on forecourts by 2020, according to a new report.

If the word from outlet Automotive News Europe proves to be true, this EV version of the XC40 will be the first all-electric car to be revealed under the Volvo brand name. This news follows on from the debut of the Polestar 2, the first pure electric offering from Volvo’s performance sub-brand, at the Geneva Motor Show in February.

It is suggested that both cars would share a platform – the Compact Module Architecture (CMA) – developed in collaboration with Volvo’s parent firm Geely, and fellow subsidiary Lynk & Co., which is a brand exclusive to the Asian market.

Performance and range figures are yet to surface.

This report is a good sign that the Swedish firm is taking strides to live up to its previously stated desire for electric cars to account for half of its sales by 2025; five fully electric vehicles are expected in the firm’s line-up by 2021, per Volvo’s official website.

Currently, Volvo produces numerous hybrids, most notably the T8 petrol-electric hybrid variants that appear as the flagship of numerous models in the brand’s line-up, including V90 and XC90.

A T5 ‘twin-engine’ version of the XC40 has already been confirmed, combining a three-cylinder petrol unit with an electric motor for an impressive power output in excess of 255bhp. This version of the XC40 is set to go into production before the end of 2019.

Check out the best deals on the existing versions of Volvo’s XC40 here.