Watch out Tesla (TSLA) - Get Report and Elon Musk.

At the New York International Auto Show, Volvo unveiled a 400-hp plug-in electric hybrid SUV - the XC60.

"The Volvo XC60 is an important car for Volvo in the United States," said Lex Kerssemakers, Senior Vice President of the Americas; President and CEO of Volvo Car USA, "It provides a new and more athletic attitude to the design language that was first shown in the 90 series cars."

The XC60 is critical for Volvo, representing 30% of sales. Some 1 million XC60s have been sold across the globe.

In another swipe at Tesla, the XC60 has a semi-autonomous driving feature, Pilot Assist, that works at speeds up to 80 mph.

Editors' pick: Originally published April 22.

Read more of TheStreet's coverage of the NY Auto Show: