Volvo has finally pulled the wraps off the new XC40 in Milan, Italy, the company’s new baby SUV.

As expected from a previous leak, it mimics the styling of the 40.1 Concept, and it also carries some design features from the larger XC60 and XC90.

Notice the familiar Thor’s hammer DLRs, evolved grille, and “structured profile”, which, along with up to 17 color combinations for the body and roof, and large wheels, should make it more appealing to young buyers looking for both practicality and style.

Open the door and you will see a mix of new and familiar, with the 12.3-inch TFT instrument panel carried over from the XC60 and XC90, and a 9.0-inch infotainment screen sitting in the middle of the dashboard.

Volvo claims that the XC40 “offers a radically new approach to storage inside the car”, with spaces under the seats and in the doors, in addition to a fold-out hook for small bags, and even a removable waste bin in the tunnel console. Moreover, smartphones can be stored in a special space, which features inductive charging, and can be connected to the infotainment via Android Auto and Apple CarPlay.

However, while it looks familiar to the rest of the brand’s SUV lineup, peel its skin away and you will find the new modular vehicle architecture, dubbed CMA. It was co-developed with Geely, Volvo’s parent company, and it will eventually underpin the entire 40 Series lineup, as well as some electrified models.

Safety and driver assistance features such as the Pro Pilot Assist, City Safety, Run-off Road protection and mitigation, Cross Traffic Alert with Brake Support, and 360-degree camera, among others, make the new XC40 “one of the best-equipped small premium SUVs on the market”, in Volvo’s own words.

Despite presenting it today, the Swedish car maker has already opened the order books. The new XC40 will be offered initially in the range-topping T5 version, with a 247hp 2.0-liter four-cylinder turbo and all-wheel drive, which is priced from $35,200.

European customers, on the other hand, will get to choose between five internal combustion engines. These are the T3 156PS (154hp), T4 190PS (187hp), and T5 247PS (244hp) petrols, and D3 150PS (148hp) and D4 190PS (187hp) diesels. Pricing starts at £27,905 ($37,746) in the United Kingdom for the T3 Momentum FWD grade, and goes up to £39,305 ($53,166) for the D4 AWD First Edition, which is based on the R-Design Pro version.

Further powertrain options will be added to both markets, including a hybridized model, as well as a pure electric version.

Volvo will assemble the new XC40 in Ghent, Belgium, starting this November, and the first units will be shipped to customers early next year.

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