Volvo EX60 or XC60 Plug-in Hybrid — which is cheapest?

Volvo EX60 is without a doubt one of the year's most talked-about car launches. The fully electric SUV has been presented as the modern successor to the XC60 — but the older plug-in hybrid remains in the lineup. The question many are asking is simple: which one is cheapest to drive and own?

Teknikens Värld has now carried out a thorough cost analysis of both models and arrived at a clear answer.

Higher purchase price for the EX60

Volvo EX60 is an entirely new car built on a dedicated EV platform. This means cutting-edge technology, impressive range and low running costs — but also a higher purchase price compared to the XC60 Plug-in Hybrid.

The XC60 Plug-in Hybrid has the advantage of being an established model with proven technology and a lower starting price. The combination of petrol and electric motors provides flexibility, especially for those who lack home charging or regularly drive longer distances.

Running costs make the difference over time

It's in daily running costs that the EX60 recoups its higher purchase price. Electricity costs for an EV are significantly lower than fuel costs for a plug-in hybrid, especially if you charge at home on off-peak rates. Additionally, EVs generally have lower service costs — fewer moving parts simply means fewer things that can break.

According to Teknikens Värld's calculations, the EX60 can become the cheaper option after just a few years of ownership, provided you drive typical Swedish distances and have access to home charging. But for those who drive a lot of motorway miles or lack a permanent charging point, the XC60 Plug-in Hybrid may still be the more economical choice.

Privatleasing or buying — what pays off?

Teknikens Värld has also compared privatleasing against outright purchase for both models. Privatleasing can be particularly advantageous for EVs, since you avoid the risk of uncertain residual values — a subject that worries many EV buyers.

With privatleasing, you lock in a fixed monthly cost and return the car at the end of the contract. This means you don't need to speculate on what your EX60 will be worth in three years. Given how rapidly the EV market is evolving, with falling prices and new technology, it may be wise not to tie yourself into a car purchase.

For the XC60 Plug-in Hybrid, buying can still make financial sense if you plan to keep the car for a long time. Plug-in hybrids have historically had more stable second-hand values, although that trend may change as demand shifts towards fully electric.

The trick that saves money

Teknikens Värld also points out a smart way to optimise costs: by combining the right form of financing with your driving habits. Those who drive under 15,000 km per year with home charging benefit most from the EX60, while those who drive over 20,000 km with mixed driving may benefit from the plug-in hybrid's flexibility.

Regardless of which model you're leaning towards, the most important thing is to compare the total cost of ownership — not just the monthly price or list price.

Compare privatleasing deals

For those who'd rather not crunch the numbers themselves, help is at hand. On PrivatLeasa.se you can easily compare current privatleasing deals on both the Volvo EX60 and XC60 Plug-in Hybrid — and see exactly what it costs per month. It's the simplest way to find the deal that fits your finances and driving needs.