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Volvo confirms unnamed US model reveal for NY show

Tucked into the press release for the "display debut" of the Volvo V60 Plug-In Hybrid at the New York Auto Show, Volvo snuck in a single line announcing that it will also be introducing a new model for the North American market. As much as we'd love to see the svelte V40 on American roads, we're pretty sure the automaker is looking to fill its US station wagon void with the V60.
The 2014 Volvo V60 is part of a comprehensive lineup update that was unveiled earlier this month in Geneva, and it would give Volvo dealers a conventional wagon (not including the XC70) for the first time since the V70 and V50 were killed off. We'll still be keeping our fingers crossed for the stylish V40 hatchback or the fuel-efficient V60 diesel hybrid, but we have to wait until next week to find out for sure.

Daimler rebuffs Geely offer to buy stake

HONG KONG/BEIJING - Daimler AG has turned down an offer from China's Geely to take a stake of up to 5 percent via a discounted share placement, as the German automaker has long been reluctant to see existing shareholdings diluted, sources with knowledge of the talks said. A stake of that size would be worth $4.5 billion at current market prices. Although Daimler declined the offer, it told Geely it was welcome to buy shares in the open market, the sources added. Carmakers in China have embarked on a flurry of dealmaking, as they scramble to boost production of electric and plug-in hybrid vehicles ahead of tough new quotas to be imposed by Beijing, which wants to reduce urban smog and lower the country's reliance on oil. People with knowledge of Geely's thinking said the company was keen to access Daimler's electric car battery technology and wanted to establish an electric car joint venture in Wuhan, the capital of Hubei province. Geely, which also owns Swedish car maker Volvo, is still hopeful it can secure a deal in some form over the coming weeks, they added. The two automakers met in Beijing in recent weeks at Geely's behest. There, the Chinese firm, formally known as Zhejiang Geely Holding Group, offered to take a stake of between 3 percent and 5 percent if Daimler would issue new shares at a discount, the sources said. It was not immediately clear what kind of discount for the shares Geely had in mind or whether Geely was interested in buying the shares on the open market. A spokesman for Geely declined to comment. A spokesman for Daimler said the company was "very happy with our shareholder structure at present", but added that it would welcome new investors with a long-term interest in the company. Shares in Daimler were up 1 percent in early Wednesday trade, in line with the broader market.DAIMLER ALREADY TIED TO BAIC, BYD Geely, which has a market value of some $32 billion, is the leading domestic brand in China with a 5 percent market share, according to an analysis by Nomura Securities. A stake of 5 percent would establish it as Daimler's third-largest shareholder behind the Kuwait Investment Authority and BlackRock, who hold 6.8 percent and 6 percent respectively, according to Reuters data.

Volvo to use Oz as test bed for more Polestar models?

We've already told you about the slightly more awesome version of the Volvo S60 that our friends Down Under can now get their hands on. And according to Aussie site Drive.com.au, Volvo may look to the land of Oz for future testing of new, Polestar-tuned, high-performance models.
Volvo has reportedly confirmed that this S60 Polestar run will be an exercise in testing the acceptance of the Swedish tuner's presence as a proper competitor for things like BMW's M division or Mercedes-Benz's AMG. (A tall order, for sure.) "The world is watching this exercise with much interest," Volvo Cars Australia boss, Matt Braid, told Drive.com.au.
Hans Baath, Polestar Managing Director, reportedly hinted that the tuning house had already begun work on a hotter version of the V40 hatchback, but the project was scrapped in order to get the S60 program rolling. If there's success to be found here, this smaller hot hatch could be revisited, as well as a more powerful version of the XC60 crossover.