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Sunday Drive: And now for something completely different

This past week played host to a wide assortment of automotive news, highlighted by our first drive of the 2018 Volvo XC40. The Swedish crossover is targeted at young, successful Millennials, but it offers cool styling, fun dynamics, and all of today's must-have technology, so we think it ought to appeal to a much wider swath of the automotive marketplace. From there we answer the question, "What are hard on the outside and soft on the inside?" as we take a look at the next Mercedes-Benz G-Class SUV. We expect the German automaker's flagship luxury SUV to remain boxy on the outside, but the interior is going to be soft, supple, and luxurious. And then there's the Honda Clarity Plug-in Hybrid, which starts at starts at $34,290 and boasts 212 total system horsepower, 232 pound-feet of torque, 47 miles of electric driving range, and a total range of 340 miles. EPA rates it at 110 MPGe in EV mode, and 44 city/40 highway/42 combined overall. We compare it to other plug-ins like the Chevy Volt and Toyota Prius Prime. And finally we have some more spy photos of the 2019 Ram 1500. It doesn't have a traditional crosshair grille, but it's got plenty of chrome and an attractive upright stance that's sure to tempt future truck buyers looking for some sophistication to go with their work gloves. As always, stay tuned to Autoblog this week to see all the automotive news that's fit to print. 2018 Volvo XC40 First Drive Review | The Masspirational crossover Mercedes-Benz G-Class gets the luxe, high-tech treatment 2018 Honda Clarity Plug-In Hybrid Review | It's what's on the inside that counts 2019 Ram 1500 shows chrome grille and more production parts Green Honda Mercedes-Benz RAM Volvo Technology Truck Crossover SUV Luxury Performance Sedan volvo xc40 sunday drive

Volvo's $2.9 billion stock IPO is a key test in shift to EVs

Volvo Car AB is looking to raise 25 billion kronor ($2.9 billion) in a Stockholm initial public offering in a test for automakers amid the transition to electric vehicles. The Swedish carmaker, owned by China’s Zhejiang Geely Holding Group Co., is offering shares at 53 kronor to 68 kronor each (about $6-$8), according to a statement Monday.  The deal values Volvo Cars at as much as $23 billion, 11 years after the Chinese firm bought the business from Ford Motor Co. for $1.8 billion. The IPO is set to be EuropeÂ’s largest since January, according to data compiled by Bloomberg. The carmaker, with an ambitious plan to only sell full electric cars by 2030, plans to use the funds to add carmaking capacity so it can nearly double annual sales to more than 1.2 million vehicles. Volvo Cars also plans to construct a battery plant in Europe. “We have a very clear strategy to be an electric company in 2030 and weÂ’ve been on that journey for some years now,” Volvo Cars CEO Hakan Samuelsson said in an interview. “With this, of course, we can secure that transformation, because of course, itÂ’s not free of charge.” VolvoÂ’s projected market capitalization of about $20 billion compares to roughly $65 billion for BMW AG, while the German premium carmaker produces more than 2 million vehicles versus Volvo CarsÂ’ 660,000 last year. Newer entrants to the industry such as ChinaÂ’s Nio Inc. and Tesla Inc. have seen their share prices surge past traditional manufacturers even as they sell only a fraction of the number of vehicles. The IPO also comes less than a month after electric-vehicle maker Polestar, controlled by Volvo Cars and Geely, said it will go public in New York via a blank-check merger. The deal implies an enterprise value of $20 billion for the startup, with Volvo Cars expecting to hold a 50% stake in Polestar after it lists. While the century-old Swedish industry stalwart and Polestar have similar valuations, 4-year-old Polestar has a target of delivering only about 29,000 cars this year. Geely previously attempted to take Volvo Cars public in 2018, but called off the listing after investors were said to balk at its valuation expectations of as much as $30 billion.  A group of pension funds and institutional investors have committed to buying 6.4 billion kronor worth of shares in the IPO. The offering of as much as 21% of Volvo Cars runs through Oct. 27, and the shares are set to start trading in Stockholm on Oct. 28. Goldman Sachs Group Inc.

Volvo to go all electric by 2030, hastening internal combustion's death

LONDON — VolvoÂ’s entire car lineup will be fully electric by 2030, the Chinese-owned Swedish company said on Tuesday, joining a growing number of carmakers planning to phase out fossil-fuel engines by the end of this decade.   “I am totally convinced there will be no customers who really want to stay with a petrol engine,” Volvo Chief Executive Hakan Samuelsson told reporters when asked about future demand for electric vehicles. “We are convinced that an electric car is more attractive for customers.” The Swedish carmaker said 50% of its global sales should be fully-electric cars by 2025 and the other half hybrid models. Owned by Hangzhou-based Zhejiang Geely Holding Group, Volvo will launch a new family of electric cars in the next few years, all of which will be sold online only. Volvo will unveil its second all-electric model, the C40, later on Tuesday. Samuelsson said Volvo will include wireless upgrades and fixes for its new electric models — an approach pioneered by electric carmaker Tesla Inc. Carmakers are racing to switch to zero-emission models as they face CO2 emissions targets in Europe and China, plus looming bans in some countries on fossil fuel vehicles. Last month, Ford said its lineup in Europe will be fully electric by 2030, while Tata Motors unit Jaguar Land Rover said its luxury Jaguar brand will be entirely electric by 2025 and the carmaker will launch electric models of its entire lineup by 2030. And last November, luxury carmaker Bentley, owned by GermanyÂ’s Volkswagen, said its models would be all electric by 2030. Electrification is expensive for carmakers, and as electric vehicles have fewer moving parts, auto employment is expected to shrink.    Volvo CEO Samuelsson said that industrywide, electrification will mostly affect engine plants and auto suppliers providing everything from oil filters to fuel injectors and spark plugs. “Those are a lot of jobs of course,” he said. “But overall I donÂ’t think there will be a big difference.” Volvo said it will “radically reduce” the complexity of its model line-up and provide customers with transparent pricing. The carmakerÂ’s global network of 2,400 traditional bricks-and-mortar dealers will remain open to service vehicles and to help customers make online orders.