2004 Volvo on 2040-cars

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How the Chinese tycoon driving Volvo plans to tackle Tesla

HANGZHOU, China — "Do you know how big Volvo is?" asked Don Leclair, finance chief at Ford. It was 2008, and Leclair was responding to an offer from a little-known Chinese businessman to purchase the Swedish carmaker, which Ford owned. The businessman, Li Shufu, had a company with less than half Volvo's sales and a flagship model, King Kong, almost unknown outside China. He was politely shown the door of the "Glass House," Ford's iconic headquarters near Detroit, according to two people who were at the meeting. Ford's Leclair did not respond to requests for comment about the episode. Fast-forward to 2021 and Li Shufu's company, Zhejiang Geely Holding Group, is one of the biggest-selling automakers in the world's biggest auto market. It controls not only Volvo Cars but also a clutch of global auto brands, and a significant stake in German giant Daimler AG, the maker of Mercedes-Benz. These names are now part of its plans for a revolution in autos. Geely is preparing Volvo for a listing on the Nasdaq Stockholm exchange as a route towards the future of transportation: One where cars are part of an electrified network of mobility services, driving themselves, connecting to each other and — like cellphones — generating an array of data and new business opportunities. It's a vision more Silicon Valley than Detroit, where traditional automakers globally are chasing another giant — Tesla Inc. Li Shufu and his advisers eventually convinced Ford to part with Volvo in 2010 for $1.8 billion. It was the first in a string of deals, tapping brands such as Lotus, Smart and the London Electric Vehicle Company to form a network that he calls a "bigger circle of friends" across industry segments. Li Shufu sees them as building blocks to help Geely compete in a future where autos are not vehicles, but "service providers," he told Reuters in his management suite at Geely's headquarters in Hangzhou, eastern China. In that business model, cars will be available on subscription and offer services such as making payments and in-car apps. They will update their own software, and spawn opportunities in the same way as the mobile operating systems developed by Apple Inc and Google. "We are trying to create an automotive ecosystem similar to Android," he said. Li Shufu, 58, recently adopted a foreign first name - Eric - because he liked the sound of it.

Volvo's electric XC90 SUV to include lidar as standard equipment next year

DETROIT — Volvo Cars plans to make lidar sensors standard equipment in a new generation of its XC90 SUV next year as part of a strategy to deploy more advanced safety and automated driving technology that relies on precise images of the world around the vehicle. The decision by Volvo Cars to fold lidar sensors into the base price of its vehicle is a bet that customers will pay for the additional capability. It has been called a "watershed moment" by some in the industry. The Swedish brand, owned by China's Geely group, is taking a sharply different road from rival Tesla Inc, which has shunned lidar and radar and is focusing on just cameras and software for its automated driving systems. Self-driving car sensor startup Luminar Technologies Inc will supply Volvo Cars with its Iris lidar and Sentinel software in combination with software from Volvo in the electric XC90 SUV that will be built in South Carolina and go on sale in 2022, the companies said. The new technologies are designed to address traffic situations that often result in severe injuries and fatalities. Over time, the technology will become more capable and will increasingly intervene to prevent collisions, the companies said. "By having this hardware as standard, we can continuously improve safety features over the air and introduce advanced autonomous drive systems," Volvo Cars Chief Executive Hakan Samuelsson said in a statement. Lidar sensors, which use laser light pulses to render precise images of the environment around the car, are seen as essential by many automakers to enable obstacle detection and avoidance in advanced driving assistance systems and eventually in fully automated vehicles. Complete sensor set on on electric successor to XC90 Until now, lidar has been too costly for automakers to implement as anything other than an option that costs extra. Luminar CEO Austin Russell said the pricing for its lidar is on the order of $1,000 per unit. Volvo Cars' chief technology officer, Henrik Green, said cost is not the focus for the Swedish auto brand. While the price of the technology will come down over time as volumes grow, the rollout will accelerate use of automated services that the company can charge for. Green said subsequent vehicles will add the lidar package as standard, and that this continues Volvo Cars' history of being first to standardize many safety features, including three-point seat belts and side-impact airbags.

Volvo already planning road-going V8 Supercar?

After decades of cat-and-mouse battle waged between Holden and Ford, Australia's V8 Supercars series has expanded considerably. Mercedes and Nissan both joined the grid last season, and Volvo has followed suit this year. So when 2014 championship kicked off earlier this month in Adelaide, everyone was watching to see who would come out on top.
The answer is Holden, which took first place in all three of the weekend's races. In fact the General Motors division locked out the podium in the first and third races and took first and third places in the second race, letting just one other manufacturer onto the podium the entire weekend - and that was Volvo. The Polestar S60 scored second place on its first race weekend, beating all the Nissan Altimas, the Mercedes E63 AMGs, the Ford Falcons and most of the Holden Commodores.
Now that's hardly winning the championship, but it's a very solid debut. And that point was not lost on the people back at headquarters in Sweden, who are already thinking about making a roadgoing version of the race-spec V8 Supercar.