2019 Volvo S90 Momentum on 2040-cars

Auto blog

Daimler, Geely mull China as production hub for hybrid powertrains

FRANKFURT — Daimler and Geely on Friday said China could emerge as a manufacturing and export hub for hybrid powertrains jointly developed for Volvo and Mercedes-Benz cars. Earlier this week, Daimler said it would cooperate with China's Geely to build next-generation combustion engines for use in hybrid vehicles. The engines will be produced in China as well as in Europe, and Geely and Daimler will cooperate in engineering, sourcing and production, the companies said in a joint press release. "The export of the engine from China is considered to be an option," the release further said. Mercedes-Benz aims for more than half of its passenger car sales to be comprised of plug-in hybrids or purely electric vehicles by 2030. Geely is ChinaÂ’s most internationally known automaker. It owns Volvo Cars and Lotus, almost half of Proton and 9.7% of Daimler. Through wholly owned company Polestar, it builds low-volume Polestar 1 hybrid performance cars in the western city of Chengdu and Polestar 2 volume sedans in Taizhou in the east. "The companies plan to develop a highly efficient modular engine," a spokesman for Daimler said, adding that it would be used in hybrid drivetrains and manufactured in Europe and China. The modular engine will be used in cars under different marques at Geely and Daimler, a person familiar with the matter said on condition of anonymity as the companies are still in the early stages of developing the engine. An Conghui, President of Geely Holding Group, President and CEO of Geely Auto Group said: “This project reflects the need for economies of scale and targeted research and development investment in clean and highly efficient powertrains and hybrid drive systems and their applications." Geely also plans to build a plant with annual manufacturing capacity of 30,000 premium EVs in the western city of Chongqing, run by a wholly owned, newly registered company, according to documents on its website. Geely and Polestar declined to comment. The plan comes as foreign automakers including BMW AG and Tesla expand EV production in the worldÂ’s biggest market, sourcing major EV components such as batteries locally and often even exporting a portion of the vehicles it builds.   Auto News Earnings/Financials Green Plants/Manufacturing Mercedes-Benz Volvo Green Automakers Future Vehicles Hybrid

Volvo Cars leaps 22% in IPO stock debut — a big endorsement for EVs

Volvo Cars CEO Hakan Samuelsson at the automakers' stock market opening bell on Friday in Stockholm. (Getty Images)   STOCKHOLM — Volvo Cars shares surged 22% on their Stockholm market debut on Friday after wrapping up Europe's biggest IPO of the year so far, in a boost for new issues markets and carmakers' vision of an electric future. The Gothenburg-based company cut the size of its listing and priced it at the bottom of a previously-announced range UPDATE 3-Volvo Cars gives itself $18 bln price tag as cuts IPO size - Reuters News on Monday, valuing it at just over $18 billion and making it Sweden's second largest listing yet. But the successful deal and strong market reaction — which propels the valuation to about $22 billion — is a lift for a European automotive industry that has embarked on a challenging transition towards electric vehicles (EVs). It also shows that while the euphoria over initial public offerings (IPO) in the first half of 2021 is over, the market is open for new listings of big companies with a story to tell. Volvo Cars Chief Executive Hakan Samuelsson said the listing showed a recognition of its transition plans, adding it would be key for Volvo to demonstrate it is on track to be the "fastest transformer." "There's a much bigger interest in the market to invest in electric car makers than in the conventional ones. So we better do what we said we would," he told Reuters in an interview. Shares in the carmaker, which is majority owned by China's Geely Holding, were trading at 64.70 Swedish crowns ($7.59) at 1057 GMT, after being priced at 53 crowns in the IPO. Polestar Apart from Volvo's commitment to becoming a purely electric carmaker by 2030, it also has a 49% stake in EV venture Polestar, which said in September it would go public through a $20 billion deal. Samuelsson said Polestar had a "good valuation." "They are already electric... showing in a way what the potential would be for Volvo if this (the transformation) is done in the right way." A source familiar with Volvo's transaction said the outcome of this week's IPO was good, even though investors had pushed back and forced Volvo to price at the bottom of the announced range. "The company had to compromise on size and the governance structure. They were hoping for a read across on Polestar, but they were clearly not getting that," the source said, requesting anonymity because they were not authorised to speak to the press.

Can we keep the gauge cluster around, please?

Let’s not follow TeslaÂ’s lead in the elimination of the gauge cluster. I might be too late, but IÂ’m going to say it anyway. The cute 2025 Volvo EX30 is to blame for this needing to be said. I genuinely like most things about the EX30 and its cost-oriented approach to a luxury EV. However, Volvo went and deleted the gauge cluster, and thatÂ’s just one cost-saving step too many. Of course, center-mounted instruments is nothing new, but Tesla popularized the idea of removing the cluster entirely years ago with its Model 3 and Model Y. I didnÂ’t like the idea when I first saw it, and my displeasure with driving around a car with no cluster was confirmed when I drove a Model 3 for the first time. There are numerous reasons, but it all boils down to the importance of having vital information in your direct line of sight. The transition to EVs allows for the elimination of certain monitoring gauges within a cluster, but basics like speed, gear position, headlight status, cruise control and range are all things I want directly in front of me. I donÂ’t want to glance down and to the right to see these things. You could make a valid safety argument for such an arrangement, but including all of that info just for the sake of convenience is enough. The only excuse I see for eliminating the cluster is if a comprehensive head-up display impervious to polarized sunglasses comes as standard equipment. ItÂ’d still be bothersome in a gasoline-powered car to lose all those gauges, but I could live with just a HUD in an electric car if it meant a lower cost to the buyer. That said, my favorite integrations are the smaller clusters installed in some EVs like the Ford Mustang Mach-E or Volkswagen ID.4. These little clusters are smaller and simpler than many of the massive instrument screens going into cars these days, but they include all the information you might want at a glance. Beyond the safety and convenience aspect, thereÂ’s a nostalgic angle to the gauge cluster. Just a short while ago, I trumpeted the return of retro designs in digital gauge clusters. You can quite literally do whatever youÂ’d like when youÂ’re working with a screen, which leaves the field of opportunities wide open. We wonÂ’t have the privilege of enjoying old-school (or revolutionary new-school) designs if OEMs start eliminating them entirely.