It is built on the Global C platform with modifications to the electric power steering, and revised spring and damper settings.

From the model year of 2014, Volvo has begun fitting its in-house developed Drive E (VEA) diesel and petrol engines to the V40.

Available in both the V40 and V40 Cross Country bodies, the D4 Drive E includes a four-cylinder twin turbo diesel engine rated 190 PS (140 kW; 187 hp) and 400 N⋅m (295 lb⋅ft), a six speed manual transmission tuned for improved fuel economy, pressure feedback from each fuel injector, reduced friction, and a smart valve solution on the cooling system for a more rapid heat up phase after a cold start.

The T5 Drive-E includes a four-cylinder turbo petrol engine rated 243 PS (179 kW; 240 hp) and 350 N⋅m (258 lb⋅ft), with eight speed automatic transmission.

The Cross Country is a version of the Volvo V40 with protective body panels, bigger wheels and tyres along with an increased ride height.