Speaking at a press conference earlier this week, Stefan Jacoby said the model was being prepared for a US launch shortly after the similar V60 Plug-In Hybrid debuted in Europe. Volvo has recently announced it will spend a third of its research and development budget on reducing range-wide carbon emissions.

 ‘A diesel-electric plug-in hybrid is coming to our European dealers this year and we are busy preparing a gasoline version for the American showrooms,’ he said.

‘Electrification is one of our four major focus areas and our three cars in one plug-in hybrid takes hybrid technology into the next level. This ingenious blend of state-of-the-art combustion technology and innovative electrification creates a bridge to a future where all-electric cars become more established on the roads.’

The XC60 Plug-In Hybrid uses a four cylinder turbocharged petrol engine from the Swedish manufacturer’s forthcoming Volvo Environmental Architecture range of modular drivetrain technology. Using a combination of the 280bhp petrol engine and 70bhp electric motor driving the rear wheels, the resulting 350bhp allows the SUV to reach 60mph in under six seconds.

Volvo is already enjoying increased demand in North America. The United States was its biggest growth market last year, with a 25% increase compared to 2010. Though unconfirmed, a diesel-electric XC60 Plug-In Hybrid could be coming to Europe in the near future.