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Volvo reveals 400-hp twin-charged PHEV power for new XC90 [UPDATE]

UPDATE: An earlier version of this post indicated that the larger of the conventional diesel engines was a five-cylinder. However all three powertrains announced for the upcoming new XC90 are actually four-cylinder engines. The text has been updated accordingly.
Volvo rolled in to new territory when it introduced the original XC90 back in 2002, creating its first SUV and one of its top-selling models. But that was 12 years ago. In the meantime it's followed up with the smaller XC60, but what the brand faithful and the industry at large have been looking forward to most is the arrival of the new XC90.
Previewed by the Concept XC Coupe at the Detroit Auto Show, the new XC90 is set to arrive later this year, but to keep us on our toes, the Swedish automaker has been steadily trickling out a stream of information and photos. Two months ago it gave us a glimpse inside the cabin, and last month it revealed its new infotainment system, but now Volvo has released details on the upcoming new XC90's powertrain.

Volvo planning an electric sedan prototype perhaps called ES90

The Automotive News future product pipeline indicates Volvo's planning to begin production of an electric version of the S90 sedan in late 2024, with sales to begin in 2025. The car is definitely coming, and could be here on the early side. Swedish outlet Teknikens Varld (translated) got eyes on a post from Volvo's internal website celebrating the completion of a verification prototype (VP) of a car internally called the V551, publicly expected to be the ES90. Workers at Geely's Cixi Assembly Plant south of Shanghai marked the arrival of the car in a photo under a banner reading, "Volvo Cars V551 First VP Car Celebration," in front of a vehicle covered by a tarp stamped with "Confidential Top Secret." We don't know the production model will be called ES90, but the naming scheme fits if using the EX90 as a guide. Volvo applied to trademark the name, the potential hitch being that Lexus has indicated its displeasure with Volvo putting an ES model on the market since Lexus has its long-lived ES-followed-by-a-number sedan.     Volvo documents leaked online last year point to a body sized between the short- and long-wheelbase versions of the gas-powered S90 (pictured above), sitting on the same SPA2 platform as the recently introduced EX90. Dimensions come in at 196.4 inches long, 76.6 inches wide, and 60.9 inches high on a 122-inch wheelbase. This would make it four inches shorter than the current S90 long-wheelbase, the only version sold anymore, 1.7 inches wider, and 3.2 inches taller, with a wheelbase 1.5 inches longer. If this is how it turns out for production, the ES90 will be 1.5 inches shorter than the EX90 but have a wheelbase 2.5 inches longer — a chauffeur special for the Chinese market, perhaps. A 111-kWh battery pack (107 kWh usable) would be the same spec that powers the EX90, the ES90 in rear-drive trim expected to be good for nearly 600 kilometers (373 miles) on China's CLTC vehicle regimen. We need clarity on other rumored specs like a powertrain making 455 horsepower and 523 pound-feet, a curb weight of 5,511 pounds for an RWD trim and 5,732 pounds for dual-motor AWD.

Volvo Cars leaps 22% in IPO stock debut — a big endorsement for EVs

Volvo Cars CEO Hakan Samuelsson at the automakers' stock market opening bell on Friday in Stockholm. (Getty Images)   STOCKHOLM — Volvo Cars shares surged 22% on their Stockholm market debut on Friday after wrapping up Europe's biggest IPO of the year so far, in a boost for new issues markets and carmakers' vision of an electric future. The Gothenburg-based company cut the size of its listing and priced it at the bottom of a previously-announced range UPDATE 3-Volvo Cars gives itself $18 bln price tag as cuts IPO size - Reuters News on Monday, valuing it at just over $18 billion and making it Sweden's second largest listing yet. But the successful deal and strong market reaction — which propels the valuation to about $22 billion — is a lift for a European automotive industry that has embarked on a challenging transition towards electric vehicles (EVs). It also shows that while the euphoria over initial public offerings (IPO) in the first half of 2021 is over, the market is open for new listings of big companies with a story to tell. Volvo Cars Chief Executive Hakan Samuelsson said the listing showed a recognition of its transition plans, adding it would be key for Volvo to demonstrate it is on track to be the "fastest transformer." "There's a much bigger interest in the market to invest in electric car makers than in the conventional ones. So we better do what we said we would," he told Reuters in an interview. Shares in the carmaker, which is majority owned by China's Geely Holding, were trading at 64.70 Swedish crowns ($7.59) at 1057 GMT, after being priced at 53 crowns in the IPO. Polestar Apart from Volvo's commitment to becoming a purely electric carmaker by 2030, it also has a 49% stake in EV venture Polestar, which said in September it would go public through a $20 billion deal. Samuelsson said Polestar had a "good valuation." "They are already electric... showing in a way what the potential would be for Volvo if this (the transformation) is done in the right way." A source familiar with Volvo's transaction said the outcome of this week's IPO was good, even though investors had pushed back and forced Volvo to price at the bottom of the announced range. "The company had to compromise on size and the governance structure. They were hoping for a read across on Polestar, but they were clearly not getting that," the source said, requesting anonymity because they were not authorised to speak to the press.