The biggest thing is of course the relatively low EPA range of the Volvo XC40 Recharge (208 miles) and Polestar 2 (233 miles). While the P2 is kind of species of its own, the electric XC40 might be affected by the EPA number at least from a marketing standpoint (even if the real-world range is better).
Here you can see where those two models stand:
The obvious reason behind the lower than expected range (for cars with a 78 kWh battery) is efficiency. According to the EPA, the efficiency of Volvo XC40 Recharge and Polestar 2 is below average. Especially the shape of XC40 plays a role.
The first electric Volvo turns out to barely beat the larger Audi e-tron in combined rating, but is noticeably worse on the highway.
Finally, the new pricing comparison - as always MSRP plus destination charge and minus the eligible federal tax credit. It's just a starting point, as in many cases customers can count on additional incentives and rebates/discounts.