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Hey Tarable
I had a similar experience with my 01 V40 this winter. In a streach of very cold weather (-20C for about a week) the check engine light came on. Fortunately for me it was still under warrenty and was promptly dealt with at the dealership. The fix used was to replace the thermostat and sensor as well as upgrade the firmware. According to the tech the firmware revision alone would probably have fixed the problem but the hardware was a precaution. Long story short the problem did not re-occur. Hope this is of some help
Cheers
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