I’ve been driving Volvos for 30 years now and have owned 20-30 cars, some with 400-500,000 km (~248-311,000 miles). The diesel and gasoline 5-cylinder engines and their technology were virtually indestructible.
After my problem-free 2018 V90 with D5 engine i drove ~100000km (to around 180,000 km/~112,000 miles), I’ve now switched to a 2020 S60 T8. The S60 T8 has an extremely awesome drivetrain – really sporty yet also economical to drive. My car also had 80,000 km (~50,000 miles) when I bought it – a lease return that was consistently serviced at Volvo. Since I have connections there (I worked in this shop), they printed out the vehicle’s service history for me. And what can I say – apart from a new windshield and front bumper, there was nothing but routine service on this car.
Very few of these cars are on the road here in Austria, but those that are customers at this particular shop are completely trouble-free vehicles, according to a mechanic I know there – so they seem to function quite well!
There are apparently current issues with the mild hybrids i heared there, that keep needing major repairs, but I don’t really care about that 
My battery shows 96% SOH when read out, which is really okay. I get 40km (~25 miles) range with it, just as shown on the display.
Still, as a technician, I’m always somewhat worried – there are so many systems that have to work, and if one of the systems fails, you can’t just quickly fix it at home – then it will certainly become very, very expensive
This car isn’t one I want to drive for a long time and put 200,000 km (~124,000 miles) on – I’ll drive it for 2-3 years and then decide: either go back to something older (V70 or similar) or jump straight into a pure electric car.
What I think is one of the biggest issues with this car – thermal management. So warming up the gasoline engine before giving it kickdown or high RPMs. This might not be considered much with lease cars or company cars – when I drive my 30km (~19 mile) commute, I don’t do any full-throttle overtaking or anything – mostly pure electric drive, and that’s like a 90hp Golf. But if you give it kickdown while overtaking, for example, the gasoline engine (COLD!) would kick in and provide power – which in my opinion would be extremely bad. I always make sure the engine is warm when demanding the power that the drivetrain definitely has.
I believe if you pay attention to this, you’ll have long-lasting enjoyment with the car – but there are always “Mondaycars”, and if someone had to pay €10,000 for a repair outside of warranty, I can understand the frustration…
I believe it should already be ERAD2 for the electric motor – 2019 might still have been ERAD1, I’m not sure exactly. The oil rings/oil problem should also have been fixed around 2018 – I’d research that.
And – I wasn’t really aware at first how great it would work with electric drive – today I’d wish for a 2023 model year with the stronger motor and larger battery. 40km is almost too little for my daily use – the new ones are supposed to achieve 70-80km (~43-50 miles), though they probably take longer to charge. I usually charge at home via solar with a normal 220v Schuko plug – that takes about 3 hours.