2001 Volvo V70 2.4t Wagon - Great Safe Family Car - 25 Mpg+ on 2040-cars

Auto blog

Geely to sell $1.3 billion of Volvo Truck shares

China’s Zhejiang Geely Holding Group is selling the entirety of its Class B shares in truckmaker Volvo AB that were worth 14.46 billion Swedish krona ($1.32 billion) at the close of trading in Stockholm. In a statement, Geely said the divestment is “in accordance with its long-term strategy” and that it will remain VolvoÂ’s second-largest investor with 88.5 million A shares. “Geely HoldingÂ’s strategic adjustment and inclusion of AB Volvo in its automotive manufacturing and investment portfolio is part of the groupÂ’s risk management and diversified investment strategy,” the company said.   Geely is offering the 49.5 million shares through BofA Securities, Goldman Sachs Bank Europe and Barclays, according to a term sheet. The Sweden-based holding company that owns GeelyÂ’s stock guided that itÂ’s selling for SEK285.9 a share, a more than 2% discount from its closing price. Volvo reported first-quarter operating profit that beat analystsÂ’ expectations on Wednesday, as the truckmaker offset waning orders by charging higher prices. The company has been reducing production as demand returns to more typical levels following a post-pandemic recovery period. Its shares have advanced 12% this year. Geely pared its stake in Volvo in January and also sold some of its holding in Volvo Car AB in November. The holding company behind one of ChinaÂ’s most prominent carmakers early this year had to bail out Polestar, the struggling electric-vehicle manufacturer it started along with Volvo Car.   Earnings/Financials Volvo Truck Commercial Vehicles volvo trucks

Volvo sets high carbon price to assess sustainability of new projects

GLASGOW — Swedish automaker Volvo said on Wednesday it had set a price on carbon emissions from its operations of 1,000 Swedish crowns ($116.30) a tonne, part of attempts to ensure all future projects are sustainable. Announcing the move at global climate talks in Scotland as it joined an imitative to phase out fossil fuel cars and vans, the company said it had deliberately set a relatively high price to "future proof" itself. Negotiators at the COP26 talks are trying to finish rules to create an international carbon market. Put simply, it would allow some countries to pay others to cut emissions — with the aim of pushing much-needed cash into green projects around the world. Volvo said it was the first automaker to set such a price across its whole operations, as part of its aim to be a climate neutral company by 2040. The price is double the current cost of carbon in the European Union's carbon trading scheme. Going forward, every new car project would go through a "sustainability sense-check", with a carbon price assigned throughout the life of the vehicle, to ensure it would be profitable even under a much higher government-set price. “A global and fair price on CO2 is critical for the world to meet its climate ambitions, and we all need to do more,” Bjorn Annwall, chief financial officer, said in a statement. “We strongly believe progressive companies should take the lead by setting an internal carbon price. By evaluating future cars on their CO2-adjusted profitability, we expect to accelerate actions that will help us identify and reduce carbon emissions already today.” Also on Wednesday, Volvo signed up to the Glasgow Declaration on Zero Emission Cars and Vans, along with peers including Ford and General Motors, aiming to end production of internal combustion engines by 2040. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

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.