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Volvo to stop funding Polestar, sees stock rise dramatically

STOCKHOLM — Volvo Cars said on Thursday it would stop funding Polestar Automotive Holding and was handing responsibility for the struggling luxury car brand over to Volvo's top shareholder China's Geely Holding. The announcement sent the Swedish automaker's stock up more than 30% at market open. The heavy involvement by Swedish-listed Volvo Cars in Polestar, where it owns around 48% of the shares, has been criticised by analysts who see the stake as a drag on Volvo's resources. Like other new EV brands and startups, Polestar has struggled to make headway, particularly since Tesla started a price war last year. The automaker said earlier this month that it had missed its already-reduced delivery targets for 2023. Polestar's shares are down just over 83% since it went public in June 2022 via a merger with a special purpose acquisition company, or SPAC. Volvo Cars said it has considered handing Polestar shares over to Volvo's shareholders, which would make Geely a big direct owner in the brand. Shares in Volvo were up 20% at 0814 GMT, after they soared 32% at market open. Geely in a separate statement welcomed Volvo's decision to focus its resources on its own development. "Geely Holding will continue to provide full operational and financial support to the independent exclusive (Polestar) brand going forward," the Chinese group said. "This support will not require a reduction of Geely Holding shareholding in Volvo Cars," it added. However, the broker Bernstein said it saw a distinct possibility that the Geely ecosystem could sell down its shares in Volvo. Polestar last week said it planned to cut around 450 jobs globally, or about 15% of its workforce, amid "challenging market conditions". It also said in November that it would try to reduce its reliance on external help, publishing a revised business plan, which included getting additional loans from Volvo and Geely. The news could raise questions about the viability of Polestar, which aims to become cash flow break-even in 2025. Some analysts have said it could make more sense to fold Polestar company into Geely. Volvo Cars meanwhile reported a bigger than expected rise in fourth-quarter operating earnings on Thursday, with operating income excluding joint ventures and associates rising to 6.7 billion Swedish crowns ($643.83 million) from a year-earlier 3.9 billion. Analysts polled by LSEG had expected adjusted earnings before tax and interest (EBIT) of 6.5 billion.

Best cars for snow and ice in 2023 and 2024

What's the best car for snow? The real answer is "the one with winter tires." What do we mean by that? You could have the finest, most advanced all-wheel-drive system or four-wheel drive in the world, but if you're running all-seasons (the spork of tires), your fancy four-wheeler won't matter much. The odds are, any vehicle on the road running good winter tires will probably perform adequately in slippery, slushy and/or snowy road conditions. (Here's a more complete explanation of why winter tires are totally worth it). In other words, you don't really need any of the cars on this list. With a set of winter tires, countless others will do the job, and even these will be at their best with proper rubber. You can find a variety of winter tires for your car here at Tire Rack. Keep in mind that you will need a full set of four snow tires for safety and performance, no matter what you're driving. The days of your dad putting just two snows on the family truckster to get it moving in a straight line are long gone. Don't get us wrong, getting a car that performs well in snow and ice is still a worthy criteria for car buyers. According to the U.S. Transportation Department, 70% of Americans live in places that get snow and ice. And much of the country has been blasted with arctic air for much of the new year. So let's look at the cars. First, we're highlighting choices for a variety of buyers and price points. Second, we're not just considering snow; we're considering general wintery conditions people will experience driving to work or school. As such, these are all choices with advanced all-wheel-drive systems, usually with "torque-vectoring" systems that not only automatically shunt power front and back, but side to side between the rear axles. Most have extra ground clearance for getting through deep snow, and we prefer those vehicles with more responsive steering, throttles and transmissions that provide a greater sense of vehicle control in slippery conditions.    Acura RDX Read our Acura RDX Review Acura's Super-Handling All-Wheel Drive system was one of the first to offer torque-vectoring, and besides often being touted for its ability to greatly enhanced dry-road handling, its benefits in the slick stuff can be profound. It's actually surprising that Acura hasn't leaned into this capability further by offering more rugged versions of its vehicles.

Volvo Cars sees 'tremendous growth' in EVs, CEO says

DAVOS, Switzerland — Volvo Cars remains confident of "tremendous growth" in the electric vehicles market, CEO Jim Rowan told the Reuters Global Markets Forum in Davos on Wednesday, countering gloomier projections from rivals. The carmaker, which aims for electric vehicles (EVs) to contribute half its sales volume by mid-decade and to sell only EVs by 2030, said the growth in demand for its premium brand was stronger than that of mass-market rivals. "We have much more pricing power and people have got more disposable income so they can afford it if they want to drive an EV," Rowan said. The Volvo Cars CEO said that, in contrast to others, he saw good growth globally for electric cars, with particular strong demand in Europe. Over the past year, many automakers have warned that the anticipated growth of EVs has been slow to emerge due to poor demand, heavy price cuts, lower subsidies, and supply chain issues. Volvo has previously said that it has no intention of participating in the Tesla-ignited price war due to its position as a premium brand and saw good margins on its electric cars. Higher costs caused by disruptions on shipping in the Red Sea would also not affect customers, the CEO said, who stated that any additional costs would be absorbed by Volvo. Last week, Volvo said it would halt production at its factory in Belgium for three days as a result of a delivery of gearboxes being delayed due to the disruption. The CEO also told Reuters that he had high ambitions for India in the next five years with plans to launch the more affordable EX30 there in 2025. By the Numbers Green Volvo Electric Future Vehicles

2024 CES Mega Photo Gallery: Honda concepts, a VinFast truck and flying cars galore

The 2024 rendition of CES is coming to a close, and per usual, it was full of all the funky, futuristic tech the show is long known for. It’s also full of cars and legitimately forward-thinking tech related to cars, and we were on the ground to see it all and bring photos to you in this Mega Gallery.  A boatload of manufacturers attended and made big reveals, from the Star Wars-like Honda concept cars to a pickup truck from VinFast, the sort of debuts we got to see ran the gamut. Of course, there were plenty of reveals and vehicles on the floor that were even more outlandish than concepts from traditional OEMs like Honda and Mercedes. Check out this flying Xpeng car as an example. Or perhaps the flying Mansory car. Apparently, flying cars were a theme. Anyway, make sure you scroll down to check out the various reveals and photos of the cars and technologies revealed at the 2024 CES in our barrage of galleries. Honda 0 Series Honda 0 Series saloon 1 View 26 Photos VinFast Wild pickup VinFast Wild 10 View 10 Photos VinFast VF3 VinFast VF3 1 View 4 Photos VW GTI Prototype with AI-enhanced infotainment CES 2024: New Volkswagen GTI with AI-Enhanced Infotainment View 17 Photos Kia PBV Concept Kia PBV Concept platform View 28 Photos Sony Honda Mobility Afeela concept Afeela by Sony Honda Mobility View 5 Photos Hyundai Mobion Concept Hyundai Mobion Concept CES 2024 View 6 Photos Mullen Five RS Mullen 2 View 14 Photos Mansory Empower concept Mansory Empower concept View 14 Photos Hyundai Supernal S-A2 eVTOL Hyundai Supernal S-A2 View 13 Photos XPeng Aeroht eVTOL Flying Car XPeng Aeroht eVTOL?Flying Car View 6 Photos Verge TS Ultra verge-ts-ultra-ces-2024-electric-motorcycle-01 View 17 Photos Horwin Senmenti Maxi Scooter Range Horwin Senmenti 0 View 12 Photos BMW Teleoperated Valet BMW iX controlled with Remote Valet View 15 Photos Mercedes-Benz MB.OS infotainment Mercedes-Benz MB.OS infotainment system View 9 Photos Lamborghini Telemetry X Lamborghini Telemetry X View 5 Photos Related video: Green Motorsports CES BMW Ford Honda Hyundai Kia Lamborghini Mercedes-Benz Volkswagen Volvo Green Automakers Green Culture Technology Infotainment Smartphone Autonomous Vehicles Commercial Vehicles Concept Cars Polestar Infrastructure

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

Best car infotainment systems: From UConnect to MBUX, these are our favorites

Declaring one infotainment system the best over any other is an inherently subjective matter. You can look at quantitative testing for things like input response time and various screen load times, but ask a room full of people that have tried all car infotainment systems what their favorite is, and you’re likely to get a lot of different responses. For the most part, the various infotainment systems available all share a similar purpose. They aim to help the driver get where they're going with navigation, play their favorite tunes via all sorts of media playback options and allow folks to stay connected with others via phone connectivity. Of course, most go way beyond the basics these days and offer features like streaming services, in-car performance data and much more. Unique features are aplenty when you start diving through menus, but how they go about their most important tasks vary widely. Some of our editors prefer systems that are exclusively touch-based and chock full of boundary-pushing features. Others may prefer a back-to-basics non-touch system that is navigable via a scroll wheel. You can compare it to the phone operating system wars. Just like some prefer Android phones over iPhones, we all have our own opinions for what makes up the best infotainment interface. All that said, our combined experience tells us that a number of infotainment systems are at least better than the rest. WeÂ’ve narrowed it down to five total systems in their own subcategories that stand out to us. Read on below to see our picks, and feel free to make your own arguments in the comments. Best infotainment overall: UConnect 5, various Stellantis products Ram 1500 Uconnect Infotainment System Review If thereÂ’s one infotainment system that all of us agree is excellent, itÂ’s UConnect. It has numerous qualities that make it great, but above all else, UConnect is simple and straightforward to use. Ease of operation is one of the most (if not the single most) vital parts of any infotainment system interface. If youÂ’re expected to be able to tap away on a touchscreen while driving and still pay attention to the road, a complex infotainment system is going to remove your attention from the number one task at hand: driving. UConnect uses a simple interface that puts all of your key functions in a clearly-represented row on the bottom of the screen. Tap any of them, and it instantly pulls up that menu.

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.

Best Large SUVs of 2024

When it comes down to large SUVs, there's more to consider than price and just how large it is. First, it comes down to what's underneath the skin. Some are built on a truck-like body-on-frame chassis — this would be the traditional, literal definition of an "SUV." Others use car-like, unibody construction, which would make them a crossover. What really matters, though, is how you use them. For most American families, a large three-row crossover is going to be your best bet. They have loads of passenger and cargo space, and deliver superior fuel economy, handling and ride quality than those big traditional SUVs. They're cheaper, too. On the other hand, those traditional large SUVs like the Chevy Tahoe and Ford Expedition are better-suited for more heavy-duty tasks like towing. Most now have bigger third rows than big crossovers, while extended-length versions like the Chevy Suburban have way more cargo capacity behind their third rows than everything but an airport shuttle. As for luxury large SUVs, they fall into those same two categories as well, with American choices mostly being truck-based. The pros and cons of choosing one over another are similar. Below, you will find our list of the best large SUVs broken down into three categories: large family crossover, large traditional SUV and large luxury SUVs, which comprise both construction types.  Best Large Family Crossovers  |  Best Large Traditional SUVs  |  Best Large Luxury SUVs Best Large Family Crossovers 2024 Honda Pilot Why it stands out: Exceptional storage and cargo space; unique second-row functionality; refined ride; versatile and capable TrailSport; advanced AWDCould be better: Subpar acceleration with lackadaisical transmission and engine response; so-so driver assistance tech Read our full 2024 Honda Pilot Review The Honda Pilot was completely redesigned for 2023. It maintains its predecessor's family-friendly packaging and overall focus, but it has injected a welcome sense of style (especially in the TrailSport pictured above) that makes it stand out much better from the big crossover crowd. The Pilot's restrained adornment and classic proportions are refreshing compared to the increasingly busy Kia Telluride, Hyundai Palisade and Subaru Ascent. Let's talk about practicality, though, which is ultimately the Pilot's best attribute.

Volvo EX30 dropped from 2024 NACTOY contention due to model year cutoff

The North American Car, Truck and Utility of the Year jury announced Tuesday that the Volvo EX30 has been dropped as a finalist for the 2024 Utility of the Year award because it will not be sold to customers in 2023. As it had made it all the way to the final round before Volvo informed the jury that the car would not be available, the EX30 had to be replaced with another contender. The NACTOY board selected the 2024 Hyundai Kona/Kona Electric to fill its slot.  In fact, the EX30 was never intended to be delivered in 2023, a Volvo spokesperson confirmed to Autoblog. "The original plan had us scheduled to open order books [in November], but because we are always evaluating our production timelines and volumes, and make adjustments according to a variety of inputs, we changed that to be not before January," he said.  The other finalists for all three categories remain unchanged. The full list follows.  Car category: Honda Accord, Hyundai Ioniq 6, Toyota Prius Truck category: Chevrolet Colorado, Chevrolet Silverado EV, Ford Super Duty Utility category: Genesis Electrified GV70, Kia EV9, Hyundai Kona/Kona Electric The finalists were chosen from a list of 25, which was previously narrowed down from a comprehensive roster of all vehicles that are new or updated for the 2024 model year — a total of 52 eligible vehicles. Notably absent from the list of finalists were the Chevrolet Corvette E-Ray, Toyota GR Corolla, GMC Canyon, Ford Ranger, Chevrolet Blazer EV, Chevrolet Equinox EV, Mazda CX-90 and Toyota Grand Highlander, among others. The 2024 winners will be announced in January. Autoblog Editor-in-Chief Greg Migliore is member of the NACTOY jury. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Volvo XC40 Recharge Luggage Test: How much fits in the cargo area?

Note: This post has been updated because, well, I goofed a bit. Turns out it can probably hold just a wee bit more than I originally thought. Oh, and I added a bit about the frunk. The Volvo XC40 Recharge is the all-electric version of Volvo's subcompact SUV that is also available in gas-only versions. According to the uniquely extensive cargo dimensions Volvo shares for its vehicles, every XC40 regardless of power source has the same 20.4 cubic-feet of cargo space as measured from the floor to the headliner with the front seat "limited by vertical plane tangential to the rear side of the second seatback." Like I said, uniquely extensive. There is 16 cubic-feet when measured to the top of the seatback, which is probably more applicable to my luggage tests, but other car companies don't provide those measurements, and if they do, they don't actually indicate as such — and make it seem like their SUVs are smaller and less competitive than they actually are.  One such example is Mercedes-Benz and the GLB/EQB, which is one of the XC40's chief competitors. Its specs say it has 24.0 cubic-feet of cargo space (almost certainly the top-of-the-seatback measurement), but it definitely has more than that since it can hold roughly the same amount of stuff inside its boxy cargo area as a Subaru Outback. In other words, the XC40 is very unlikely to be getting best-in-segment status here. But who knows, let's see! This is a pretty hatchbacky space, so still not looking good for the XC40 toppling the GLB/EQB. It does look pretty similar to the Q4 E-Tron, so let's bring that into the equation.  As you can see, the XC40 has a large, hatchback-style cargo cover. That means I'll have to test with and without that cover.  As with every Luggage Test, I use two midsize roller suitcases that would need to be checked in at the airport (26 inches long, 16 wide, 11 deep), two roll-aboard suitcases that just barely fit in the overhead (24L x 15W x 10D), and one smaller roll-aboard that fits easily (23L x 15W x 10D). I also include my wife's fancy overnight bag just to spruce things up a bit (21L x 12W x 12D). So yeah, I neglected to take a shot of the bags with the cargo cover attached. Sorry. Nevertheless, as you can kinda see here, I could fit the four biggest bags with the cargo cover being propped up by them. This would be worse than the Q4 E-Tron, which could fit all but the fancy bag.