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Volvo will start testing wireless charging with XC40 taxis

Volvo announced it will start testing wireless charging systems with its Volvo XC40 Recharge electric SUVs. It's doing so by creating a small fleet of XC40 Recharge taxis for Cabonline, the largest cab operation in the Nordic nations. The testing in Volvo's hometown of Gothenburg, Sweden, will last for three years, and Volvo notes that the driving conditions will involve 12 hours a day of driving with cars racking up 100,000 kilometers (about 62,000 miles) per year. The charging stations come from American company Momentum Dynamics. They're embedded into the pavement of the Volvos' parking spaces and begin charging automatically when parked correctly (which is aided by the on-board surround-view camera). The charging speed is 40-kW, which is close to the maximum charging speed of many electric cars' on-board chargers when connected to a DC station. Interestingly, Momentum Dynamics lists systems capable of charging speeds as high as 450 kW on its website. Volvo did not make any announcements regarding future availability of wireless charging. We would imagine the results of this testing will affect whether the company intends to make it a factory offering. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Volvo Cars sees flat or lower retail sales this year

STOCKHOLM — Volvo Cars flagged a potential dip in retail sales this year after posting higher second-quarter profits. Supply problems, above all a global shortage of semiconductors, have squeezed output and retail sales in recent quarters, but Volvo said it was seeing a "marked improvement" in the stabilization of its supply chain. The Sweden-based carmaker said on Wednesday it expected full year retail deliveries to be lower or on par with 2021, while wholesale volumes will increase. "However, due to the time lag between production and retail deliveries, those improvements are not expected to result in an increase in retail sales during the calendar year," the company said. Volvo Chief Executive Jim Rowan said the company would "keep an eye on" consumer sentiment, not least due to higher inflation. "But right now demand is very strong," he said. Volvo's quarterly operating profit rose to 10.8 billion Swedish crowns ($1.06 billion) from 4.8 billion a year ago as accounting effects from the listing of high-performance automaker Polestar gave a boost. Operating earnings for the core business at Volvo Cars, majority owned by China's Geely Holding, reached 4.6 billion in the quarter. "Volvo reported a solid set of Q2 results in the light of multiple hurdles including semiconductor constraints and impact of Chinese lockdowns on demand," investment bank JPMorgan said in a note. Volvo has been a strong performer in recent years and recorded 2021 earnings that surpassed pre-pandemic levels. 

China's Geely to add $4.6 billion battery plant in EV push

BEIJING — Geely said on Monday it would build an electric vehicle battery factory with a planned annual manufacturing capacity of 42 gigawatt hours (GWh) in China's eastern city of Ganzhou, as it expands its EV lineup in the world's biggest car market. For comparison, the Tesla-Panasonic Gigafactory in Nevada announced an expansion last fall to just under 40 gigawatt hours. The total investment in the project by Geely's technology arm will be 30 billion yuan ($4.6 billion), according to a separate statement from the local government. Geely's technology group has previously invested in Ganzhou-based EV battery maker Farasis. The planned factory comes after Geely announced a flurry of tie-ups in January aimed at turning the automaker into a leading EV contract manufacturer and engineering service provider, as it fights the incursion of EV leader Tesla. Geely, which owns Volvo Cars and a 9.7% stake in Daimler AG, is competing with Great Wall and Nio, among others. China's government has heavily promoted new energy vehicles (NEVs) — such as battery-powered, plug-in petrol-electric hybrid and hydrogen fuel cell cars — in response to chronic air pollution, spurring interest from technology companies and investors alike. China forecasts NEVs will make up 20% of its annual auto sales by 2025 from around 5% in 2020.   Green Plants/Manufacturing Volvo Electric Geely