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Volvo Cars sees 'tremendous growth' in EVs, CEO says

DAVOS, Switzerland — Volvo Cars remains confident of "tremendous growth" in the electric vehicles market, CEO Jim Rowan told the Reuters Global Markets Forum in Davos on Wednesday, countering gloomier projections from rivals. The carmaker, which aims for electric vehicles (EVs) to contribute half its sales volume by mid-decade and to sell only EVs by 2030, said the growth in demand for its premium brand was stronger than that of mass-market rivals. "We have much more pricing power and people have got more disposable income so they can afford it if they want to drive an EV," Rowan said. The Volvo Cars CEO said that, in contrast to others, he saw good growth globally for electric cars, with particular strong demand in Europe. Over the past year, many automakers have warned that the anticipated growth of EVs has been slow to emerge due to poor demand, heavy price cuts, lower subsidies, and supply chain issues. Volvo has previously said that it has no intention of participating in the Tesla-ignited price war due to its position as a premium brand and saw good margins on its electric cars. Higher costs caused by disruptions on shipping in the Red Sea would also not affect customers, the CEO said, who stated that any additional costs would be absorbed by Volvo. Last week, Volvo said it would halt production at its factory in Belgium for three days as a result of a delivery of gearboxes being delayed due to the disruption. The CEO also told Reuters that he had high ambitions for India in the next five years with plans to launch the more affordable EX30 there in 2025. By the Numbers Green Volvo Electric Future Vehicles

Next-generation Volvo XC90 could wear the Embla nameplate

Volvo's next-generation XC90 will have a lot of firsts on its resume. It will inaugurate an evolution of the modular SPA2 platform that underpins the current model, it will be available with a new suite of driver assistance features, and it will reportedly adopt the Embla name. Citing a trademark application filed in Europe in 2021, British magazine Autocar believes it has uncovered the big SUV's new name. While a trademark or a patent filing is never a guarantee that a feature, a name or a car is right around the corner, we know that Volvo plans to ditch its alphanumerical naming system in the near future to start giving its cars real names. "We're going to give cars a name as you give a newborn child," explained outgoing company boss Hakan Samuelsson. He also confirmed the next XC90's name will start with a vowel. Embla, your author just learned, is the first woman created by the gods according to Norse mythology. Its etymology is seemingly lost to history. It appears that Volvo wants to build on the Thor's Hammer lights and continue putting its Swedish heritage front and center. Viewed in that light, Embla is a relatively good choice. It's reasonably easy to pronounce, even for folks outside of Scandinavia, and it's original; it's likely not a name that you hear on a daily basis. It's also relatively soft — Volvo Yggdrasil Recharge arguably has less of a ring to it.  Unofficial morsels of information allow us to piece together a vague idea of what to expect from the Embla. We hear the SUV will be loosely related to the Concept Recharge design study (pictured) that Volvo introduced in November 2021. If that's accurate, it won't look anything like the model that's currently in showrooms. It will be longer, higher off the ground, and built on a much longer wheelbase. Details about the powertrain are conflicting: some sources say the Embla will be entirely electric, while others believe it will also be available as a hybrid. Volvo is expected to unveil the Embla before the end of 2022, and the crossover will arrive in showrooms as either a 2023 or a 2024 model. An earlier report claims that production will take place near Charleston, South Carolina, where the firm currently builds the S60 sedan. And, to complete the history lesson: the first man created by the gods in Norse mythology was named Ask.  Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Volvo recalls 27,457 new vehicles over a brake-by-wire issue

Eight Volvos from the 2023 model year have been drawn into a recall over software in their brake-by-wire systems. The models at issue are everything Volvo sells — the C40, XC40, S60, XC60, V60, V60 Cross Country, V90 Cross Country, and XC90. The combined recall population numbers 27,457 cars. The problem is that an in-vehicle diagnostic test to check the grounding of the system can trigger a fault in the vehicle's Brake Control Module 2. The fault doesn't always occur, but when it does, the vehicle reverts to its hydraulic system so the car can still stop. However, without the brake-by-wire system, the driver doesn't get the benefit of software-defined safety systems like ABS, ESC, Traction Control as well as convenience features like Pilot Assist, adaptive cruise control and one-pedal driving. Drivers might be alerted to the situation with a warning message and malfunction lamp in the gauge cluster, or a stiff brake pedal. The automaker says it has had no reports of accidents, injuries or fatalities because of the problem. If the car is turned off and able to enter what Volvo calls "deep sleep," the electronics will clear the fault. To fix the issue, Volvo will send an over-the-air update with logic that's a better fit for the Brake Control Module 2 hardware. The automaker says the new code "will be implemented on February 20" of this year, but in another example of the digital world outpacing regulatory processes, Volvo will begin notifying owners on March 15. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.