In line with Volvo's commitment to electrification, the Swedish automaker will be releasing its first electric vehicle in 2019.

According to Autocar, the upcoming EV will have a compact hatchback body style. It will be based on the 40.2 concept that Volvo unveiled in May 2016. The other concept car unveiled during that time, 40.1, already has a production version in the XC40.

The all-electric hatchback will be built using Volvo's new Compact Modular Architecture (CMA), which was designed specifically for small cars and with electrification in mind. The Swedish automaker believes that their new small car strategy will aid in their goal of having sold up to one million electrified vehicles worldwide by 2025.

As with the XC40, the upcoming EV will be released under Volvo's 40-series range. It will have a coupe-like silhouette and share the same design language as other vehicles in the lineup. Since the XC40 was able to carry over the overall design of the 40.1 concept, it is likely that the electric hatchback will also retain most of the design cues of the 40.2 concept.

In terms of range, the 40.2 concept was introduced with a capability of 217 miles. However, according to Volvo's senior vice president of Research & Development Henrik Green, they are aiming for about 310 miles for the production version of the electric vehicle.

Green added that they will use a modular battery system in order to meet the needs of different consumers. Volvo has yet to determine a minimum range but it will be what is most convenient for the customers. At the very least, it will be enough for a full day's use.

"The goal is to address the broader population with cost-efficient solutions and then address a more premium segment with more motor power and longer range," the executive explained.

After the arrival of the all-electric hatchback, Volvo is planning to release an all-electric version of the XC40.