Volvo has unveiled two new small concept cars - the 40.1 and 40.2 - both built on a new compact platform. The SUV and hatchback mark the official launch of Volvo’s new small car strategy. The Swedish company plans to expand into the market for premium small cars, aiming to compete with its global competitors in the next four years. The concepts feature a bold exterior and interior design as well as ‘industry-leading’ connectivity and autonomous drive technologies, while the new range will also include electric and plug-in hybrid models.