1994 Volvo 850 Glt Sedan 4-door 2.4l on 2040-cars

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Volvo Cars plans $20 billion stock IPO this month, sources say

STOCKHOLM — China's Geely Holding is in advanced discussions with banks to list its Volvo Cars unit in the coming weeks, three sources told Reuters, in what is expected to be one of Europe's biggest initial public offerings (IPOs) this year. Volvo Cars is aiming for a valuation of about $20 billion in the planned Stockholm listing, the sources said, with one saying the launch was penciled in for the end of September. Goldman Sachs and SEB are leading the transaction, while other banks including BNP Paribas, Carnegie and HSBC are also involved in the deal, the sources added. Volvo Cars declined to comment. Geely did not immediately respond to an emailed request for comment outside normal business hours in China. SEB and Goldman Sachs declined to comment. The other banks were not immediately available. Geely, which bought Volvo from Ford more than a decade ago in the biggest acquisition by a Chinese firm of a foreign car maker, sought to float shares in the Swedish firm in 2018 but then pulled the deal citing trade tensions and a downturn in automotive stocks. Traditional carmakers have fallen out of favor in recent years, as Tesla has risen to be one of the world's most valuable companies, putting the focus on electric vehicles. Many European firms have pivoted toward the electric sector, including Volvo, which aims to only make fully electric cars by 2030 and owns a 49.5% stake in electric car maker Polestar. Valuation Gothenburg-based Volvo Cars aims to secure a valuation of roughly $20 billion, one of the sources said, while another mentioned a possible range of $20 billion to $30 billion. A third source suggested a $16 billion valuation was more realistic, citing the firm's revenue outlook. A $20 billion valuation for Volvo would be equivalent to six to seven times its earnings, a level some analysts say is high although it would put it in line with rivals Daimler and BMW. Tesla's valuation is more than 70 times that. NordLB's automotive analyst Frank Schwope estimated a valuation range of $10 billion to $15 billion. "The strong margins seen in the first half of 2021 are unlikely sustainable as the market benefited from a strong post-pandemic rebound that is unlikely to continue," Schwope said. For Geely's founder Li Shufu, who bought Volvo for $1.8 billion, the listing is a milestone on the road to transport of the future, where cars are part of an electrified network of mobility services generating data and business opportunities.

Android Auto to add vehicle-integrated EV route planner for Google Maps

Google just dropped all of its CES news, and there are a whole lot of new features for Android Auto and vehicles with Google Built-In infotainment systems to parse through. Starting with Android Auto, electric vehicles will have much deeper integration with Google Maps when you’re navigating. Google Maps will know your current state of charge, predict a state of charge level for your destination, suggest charging stops along the way for the most efficient route and even tell you how long each charge stop will take depending on your vehicle. ThatÂ’s a level of integration we havenÂ’t seen before from using Android Auto in an EV and should make route planning a much more streamlined process. Of course, the caveat here is that Google will need to work with the manufacturers to have access to the kind of vehicle data required to make such a holistic EV navigation system work without hiccups. Google says that the feature will be rolling out to both the Ford Mustang Mach-E and F-150 Lightning “in the coming months, with others to follow.” WeÂ’ll be impatiently waiting to try it out. As for Google Built-In news, Google says that as of today, youÂ’ll be able to send a trip that youÂ’ve planned on your phone to your car via the Google Maps app. Despite Google Maps being the native navigation system for many cars these days, itÂ’s still easier to plan a multi-destination route on your phone than tapping through the motions on the carÂ’s screen, but should no longer be an issue with this update. Additional apps are coming online in the Google Play Store that you can download to your car, too. Volvo and Polestar cars will be able to download the Google Chrome browser later this year so you can browse the web directly from your infotainment system. Both PBS Kids and Crunchyroll are being added for your streaming convenience (while charging or parked), and The Weather Channel app is available, too. ThatÂ’s all Google revealed today, but it also hinted that Digital car key support will be expanding support to more vehicles and more Android phones in the future. Plus, it says even more OEMs will continue to launch infotainment systems with Google Built-In. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Green CES Ford Volvo Technology Infotainment Smartphone Truck Crossover Electric Luxury Performance Polestar

2013 Volvo C30 R-Design Polestar Limited Edition [w/video]

Last Hurrah Comes and Goes In A Hurry
It isn't very often that we drive a new car that's already out of production, but that's exactly what has happened with this 2013 Volvo C30. After just five years on the North American market, the last C30 quietly rolled off the assembly line back in December. But before that happened, Volvo decided to send its compact hatchback out on a high note with a little added performance and exclusivity courtesy of this R-Design Polestar Limited Edition model.
The term "hot hatch" is admittedly tossed around a lot these days, but the combination of an R-Design styling package coupled with a good number of extra ponies under the hood should be more than enough to put the C30 in the mix with the likes of the Volkswagen GTI and its not-too-distant cousin, the Mazdaspeed3. The chief problem with the Polestar Limited Edition, though, is that it's priced against sportier all-wheel-drive compacts like the Golf R and Subaru WRX STI, so we decided to spend a week with the Polestar to see if its exclusivity and performance are enough to make up for its higher price tag.