Volvo is rolling out a more affordable version of its V60 diesel plug-in hybrid in the European market.

The new version –  the V60 D5 Twin Engine – starts in the UK starts at £38,105 (about $51,000). That’s about 24 percent cheaper than the D6, which has been selling for £50,175 (or $67,250). It will have a one-step lower trim level, called SE Nav, compared to the currently available SE Lux Nav.

The V60 will continue to run off a five-cylinder diesel engine with an electric motor. One difference is that the D5 will have 163 brake horsepower (bhp) compared to 220 bhp in the D6 version. The battery pack will be unchanged at 11.2 kWh, so the NEDC rating of 52 km/32 miles (or about 37 km/23 miles in EPA equivalent) will stay the same in the D5.

“The addition of the V60 D5 Twin Engine will only increase the V60’s appeal for business users, thanks to its impressive CO2 and tax figures, and builds on our global electrification strategy of introducing other plug-in hybrid vehicles to our range,” said Selwyn Cooper, head of business sales for Volvo Car UK.

SEE ALSO: Volvo’s V60 Plug-in Hybrid Production Increased

There’s still no word on when the diesel plug-in hybrid version of the Volvo V60 will be available in the U.S. Currently, there are only turbocharged, direct-injection diesel engine versions for sale in the U.S.

The roll out of the cheaper plug-in hybrid diesel engine may have been influenced by the crisis surrounding diesel passenger cars in Europe and the U.S. Volkswagen is continuing to negotiate settlements with government regulators over deception software systems with false reporting of diesel engine emissions. Diesel passenger cars have become much less popular in the past year, seeing sales volumes decline substantially.

Inside EVs