According to Germany's Auto Bild, the concept will enter production with only minor changes - and, of course, an extra pair of doors for the rear passengers.
The report offers little in the way of evidence, although it is known that that Volvo plans to introduce a full range of new models beyond the coming XC90.
While the larger models will ride on Volvo's new Scaleable Platform Architecture (SPA), Volvo is also working with parent Geely on the development of a new Compact Modular Platform (CMA) for smaller offerings.
Geely will also build new models on the platform, focusing mostly on the Chinese market - although a renewed focus on Australia is also likely.
The first models from the CMA platform are expected to appear in the next three years.
All of Volvo's new models will be powered by the company's new Drive-E engine family, made up of new turbocharged petrol and diesel four-cylinder engines.
Three Drive-E engine options will debut in Europe this year, with the petrol options dubbed the T5 and T6 while the single diesel option is called D4.
Volvo Australia says the local roll-out schedule for the new Drive-E engines will be confirmed “in due course”.