Difference between a petrol and electric Volvo XC40 is about 200KGs, so not insignificant but not as much as it's sometimes portrayed. EVs built from the ground-up may be able to knock a few of those KGs off too as they won't have structures designed for ICE components.
According to carsized.com an ICE Volvo XC40 (not sure whether that's a plug-in hybrid, probably not) weighs 1580 kg, while the BEV one weighs 2040 kg. That's a difference of almost 500 kg. The BEV weighs almost 30% more, that seems pretty significant to me.