On Monday, Volvo Cars India announced that its first all-electric SUV model, the XC40 Recharge, will be launched on July 26th, 2022, in its version of the metaverse — the “VolvoVerse.”
The launch of the XC40 Recharge will be a first on several levels: The first electric vehicle introduced by Volvo in the country, the first premium electric SUV assembled locally in India, and the first automobile manufacturer to announce its price in the metaverse in India.
The XC40 Recharge, which is identical in design to its ICE counterpart, will be manufactured at the luxury Swedish car manufacturer’s Hosakote plant in Bangalore in Karnataka, India.
The vehicle contains two electric motors with a combined output of 408bhp and 660 nm of torque. It also has a 78kWh lithium-ion battery that can deliver a range of 400 km per charge and can be charged in only 40 minutes.
Volvo heralded the digital launch as the first to occur on a metaverse platform “in the history of the Indian auto industry.” By launching the new car in the metaverse, users from all around India and the world will have the chance to tune in.
Auto Makers Investing in Web3 and the Metaverse
The launch of Volvo’s new electric SUV in the metaverse should come as no surprise for folks paying attention to Web3 news. We’ve covered several automobile makers launching products in the metaverse or selling vehicles linked to non-fungible tokens.
Listed below are just a few of the headlines at Rarity Sniper involving car companies and manufacturers that have been busy in Web3:
- Chevy Announces NFT Auction for IRL Corvette Z
- Ripple & Lotus Cars Team Up for NFT Collection
- Fender & BMW Partner with Meta for VR Experiences
- Bentley Motors to Launch Eco-Friendly NFT Collection
- Carmakers Nissan & Toyota Reveal Metaverse Projects
And despite the fact digital cars don’t need gas to run, Hyundai has built a virtual energy station in the metaverse. It appears that even as the crypto bear market trudges on, the enthusiasm that certain sectors like the automobile industry have for NFTs and the metaverse remains high.
Volvo might be late in the game for automobile manufacturer’s in Web3 globally, but they are the first to try out the new technology in this manner in India. We’ll be tuning in on July 26th to see what Volvo has in store for the launch of its electric SUV in the “VolvoVerse.”