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Volvo Cars' sales of fully electric vehicles jump in October

STOCKHOLM - Volvo Cars' sales in October grew 10% from a year earlier to 59,861 cars as fully electric car sales jumped but hybrid models fell, the Sweden-based group said on Friday. Volvo Cars said in a statement sales of fully electric cars rose 29% to account for 18% of all its cars sold in the month. Sales of hybrid cars, however, fell 8%. In total, all recharge models were up 7% to account for 36% of total sales. Shares in the group, which is majority-owned by China's Geely Holding, were up 6% in morning trade, taking the year-to-date drop to 12%. CEO Jim Rowan last week said he saw healthy demand for Volvo cars and widening profit margins for its battery electric vehicles (BEV) this quarter, against the third, as the group posted third-quarter profits that lagged estimates. Rivals such as General Motors, Ford, Tesla and Volkswagen have earlier warned that demand for EVs was not developing as expected. Volvo Cars said on Friday that sales in the biggest market Europe were up 13% in October. Sales in the U.S. were up 19% while, in China, they were flat. (Reporting by Anna Ringstrom, Editing by Terje Solsvik and Jacqueline Wong)

Weekly Recap: Toyota, Mazda team up to 'make cars better'

Toyota and Mazda are teaming for a noble purpose: to "make cars better." That's how the two Japanese automakers termed their partnership, which was announced this week. So what does this actually mean? The companies said they will set up a joint committee to look for areas of cooperation and named safety and the environment as issues they plan to tackle. From a product perspective, it's believed that Toyota is interested in Mazda's Skyactive engine portfolio. In turn, Mazda has its eye on Toyota's fuel-cell and plug-in hybrid technology. While more specifics were not confirmed, the companies said the "agreement will go beyond the traditional framework of cooperation," and it has the potential to be a long-range partnership. "The main purpose of this initiative is to enhance the appeal of our cars," Toyota president Akio Toyoda said at the announcement. Previously, Mazda has licensed Toyota's hybrid tech and assembled compact cars for Toyota in Mexico. Akio Toyoda said these projects "triggered" the automakers to explore further collaboration. Dave Sullivan, product analysis manager for AutoPacific, said the tie-up echoes Daimler's wide-ranging work with the Renault-Nissan alliance. "This could be a well-groomed match due to each having very unique skill sets," he said. OTHER NEWS & NOTES Volvo selects South Carolina for US factory Volvo confirmed this week that it will build its first US factory in South Carolina, with construction set to begin this fall. The company first revealed plans in March, though it didn't announce a site. The plant will have initial annual production of 100,000 units, though the vehicle or vehicles to be assembled were not specified. The factory, located near Charleston, will open in 2018 and ultimately employ 4,000 people. The facility will help Volvo continue its growth strategy, which includes strengthening its presence in the US market, where it wants to sell more than 100,000 cars per year. "Building a plant in the US is a reflection of Volvo Cars' commitment to the US and the key role the US plays in our growth objectives," Lex Kerssemakers, senior vice president, Americas, said in a statement. Ford GT spied on the road The 2017 Ford GT was spotted testing around the Blue Oval's headquarters in Dearborn, MI, this week. The raw body panels were exposed, and they lacked paint or camouflage. It's the first time the GT has been captured on the street after a spring of auto show reveals.

Volvo to adopt NACS port, partners with Tesla for Supercharger access

Volvo is the next automaker to announce that it’s signed an agreement with Tesla with will allow its current and future electric vehicles use of the Supercharger network. Plus, just like Ford and GM, Volvo says its new EVs from 2025 on will be equipped with the North American Charging Standard (NACS) port instead of the Combined Charging System (CCS) port. This agreement makes Volvo the first European automaker to adopt TeslaÂ’s charge port and gain access to the 12,000-plus Superchargers across the U.S. Volvo says that owners of its EVs will be able to access Superchargers as early as the first half of 2024 with an adapter. For Volvo EVs built with the NACS port, Volvo says those vehicles will still be capable of charging on CCS chargers with an adapter provided by Volvo. Volvo didnÂ’t explicitly say that the Supercharger network would be integrated into its carsÂ’ native navigation system (which is just Google Maps these days), but it did say that folks will be able to use the Volvo Cars app to do so. Via the app, youÂ’ll be able to locate chargers, get real-time availability info and pay for charging sessions. “As part of our journey to becoming fully electric by 2030, we want to make life with an electric car as easy as possible,” said Jim Rowan, Volvo CEO. “One major inhibitor to more people making the shift to electric driving – a key step in making transportation more sustainable – is access to easy and convenient charging infrastructure. Today, with this agreement, weÂ’re taking a major step to remove this threshold for Volvo drivers in the United States, Canada and Mexico.” Stay tuned, as itÂ’s only a matter of time until more and more automakers make a similar decision as Ford, GM and Volvo just made. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.