As others say, the Geartronic (2013 V70, but I'd assume XC70's the same) does have auto-hold: you can put it on & it'll auto-release when you move forward (providing you're wearing your seat belt). There separately seems to be some foot-brake shenanigans going on: I can hold the car on the foot brake on a hill, & when I shift my foot to set off, it seems to hold the brakes on (at least for the time it takes to move forward; never actually tried not setting off).
I guess the switch is on the right to stop passengers grabbing it, or the driver doing so by mistake. I'd imagine applying the brake at speed would be 'interesting' (unlike with a manual PB, which you can drag slightly), unless they have some kind of protection in place?
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