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Volvo reveals 400-hp twin-charged PHEV power for new XC90 [UPDATE]

UPDATE: An earlier version of this post indicated that the larger of the conventional diesel engines was a five-cylinder. However all three powertrains announced for the upcoming new XC90 are actually four-cylinder engines. The text has been updated accordingly.
Volvo rolled in to new territory when it introduced the original XC90 back in 2002, creating its first SUV and one of its top-selling models. But that was 12 years ago. In the meantime it's followed up with the smaller XC60, but what the brand faithful and the industry at large have been looking forward to most is the arrival of the new XC90.
Previewed by the Concept XC Coupe at the Detroit Auto Show, the new XC90 is set to arrive later this year, but to keep us on our toes, the Swedish automaker has been steadily trickling out a stream of information and photos. Two months ago it gave us a glimpse inside the cabin, and last month it revealed its new infotainment system, but now Volvo has released details on the upcoming new XC90's powertrain.

2023 Volvo XC90 Review: Design that stands the test of time

Pros: Classy, clean, minimalist design; powerful PHEV powertrain available; robust standard safety and driver assistance suite Cons: While we like the design, it’s due for an update; upgrading to PHEV is costly The 2023 Volvo XC90 is a three-row, full-size SUV that we like for its tasteful design, comfortable interior space and excellent safety. For 2023, the standard powertrains become mild-hybrid designs based on a turbocharged 2.0-liter engine. The plug-in-hybrid XC90 Recharge version raises the price considerably, but provides a generous amount of all-electric range while being the most powerful and fun XC90 by far. It wonÂ’t provide the sporty driving dynamics like some of the performance models from BMW and Mercedes, but thereÂ’s plenty to like about VolvoÂ’s flagship crossover. What Volvo does offer is oodles of safety, with excellent crash test results year after year, and a robust suite of safety and driver assistance technology that doesnÂ’t feel like itÂ’s working against you while youÂ’re driving. The XC90 is also comfortable and roomy, seating six to seven passengers in an interior thatÂ’s comfortable and interesting to look at without feeling overwrought or ostentatious. The XC90 is getting a little long in the tooth as itÂ’s now in its eighth year since a complete redesign, but its unique, crisp design and modern technology hide its age well. If you want something all-electric, though, youÂ’ll have to wait just a little longer. Volvo will release its full-size EX90 as a battery-electric successor to the XC90, expected to go on sale in 2023 with an all-new design and more safety tech than ever before. Interior & Technology   |   Passenger & Cargo Space   |   Performance & Fuel Economy What it's like to drive   |   Pricing & Trim Levels   |   Crash Ratings & Safety Features What's new for 2023? The 2023 XC90 switches to mild-hybrid powertrains as standard, complete with integrated 48-volt battery and an integrated starter/generator added to the existing 2.0-liter engines. The new B5 and B6 mild hybrids therefore replace the outgoing T5 and T6 engines. The XC90 Recharge remains a plug-in hybrid option. The XC90 switches to Google-based infotainment software for 2023, incorporating Google Maps, Google Play and Google Assistant voice control. The XC90 also gains over-the-air update capability, which means Volvo can send remote software updates to the vehicle, improving features over time.

Geely chairman is now the single biggest investor in Daimler

Li Shufu, the chairman and main owner of Chinese carmaker Geely, has built a stake of 9.69 percent in Daimler AG, the German carmaker said in a regulatory filing on Friday. The stake, worth nearly $9 billion at the current valuation for Daimler shares, makes Li the biggest single shareholder in the maker of Mercedes-Benz cars, trucks and vans headquartered in the German city of Stuttgart. A Daimler spokesman called the stake purchase a private investment by Li. "We are delighted, with Li Shufu, to have won over another long-term investor who is convinced of Daimler's innovative prowess, strategy and future potential," the spokesman said in response to a request for comment. "Daimler knows and respects Li Shufu as a Chinese entrepreneur of particular competence and forward thinking." Li's stake purchase makes him the top shareholder in Daimler ahead of the Kuwait Investment Authority, which owned 6.8 percent as of Sept. 30, according to Thomson Reuters data. Earlier this month, the German newspaper Bild am Sonntag reported that the Chinese industry giant was seeking to become Daimler's biggest shareholder, likely exceeding the 6.8-percent stake of the Kuwait Investment Authority. The paper said Daimler had reportedly turned down Geely's $4.5 billion offer for a 5-percent stake via a discounted share placement, saying that Geely could buy shares in the open market. Institutional investors currently own 70.7 percent of Daimler, and the company already has strong ties to Chinese automakers BAIC and BYD. Bild am Sonntag said the move was intended as a strategic alliance against Apple, Google and Amazon on autonomous and connected cars. And Reuters reported that Daimler wants to have bespoke "robo taxis" on the road quicker than Google's Waymo, and views Geely as a strong partner for that. Geely conversely is interested in Daimler's electric car battery technology, and sources quoted by the German paper say there are plans to establish joint electric car manufacturing in Wuhan, China, to meet China's smog-reducing quotas. Geely is developing the Lynk & Co. brand of electric and hybrid cars. Geely owns Volvo, which has enjoyed a renaissance under the arrangement, as well as the maker of London's black cabs. In December, it bought a stake in AB Volvo, the maker of Volvo trucks.