2021 Volvo Xc60 T5 Momentum on 2040-cars

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Geely wants to be a tech-sharing 'friend' of Daimler in $9B bet

Chinese carmaker Geely has built up an almost 10-percent stake in Daimler in a $9 billion bet by its chairman that he can access the Mercedes-Benz owner's technology in the growing battle for the future of automotives. The purchase by Li Shufu, Geely's founder and main owner, means China's largest privately-owned automaker is now the biggest shareholder in Germany's Daimler. Geely said on Saturday there were no plans "for the time being" to raise the stake further. Instead, it will seek to forge an alliance with Daimler, which is developing electric and self-driving vehicles, to respond to the challenge from new competitors such as Tesla, Google and Uber. "No current car industry player is likely to win this battle against the invaders from outside without friends. To achieve and assert technological leadership, one has to adapt a new way of thinking in terms of sharing and combining strength. My investment in Daimler reflects this vision," Li said. "Daimler is pleased to announce that with Li Shufu it could win another long-term orientated shareholder, which is convinced by Daimler's innovation strength, strategy and future potential," the German company said in a statement. Geely officials plan to travel to Stuttgart to meet Daimler executives early next week and also hope to meet top German government officials in Berlin, two sources familiar with the matter told Reuters. The Chinese firm plans to use the meetings to underline that it intends to be a supportive long-term investor, they said. Daimler had no immediate comment on any meetings. Geely and the German economy ministry declined to comment. Chinese investors in German technology companies have tended to take a consensual approach, buying incremental stakes in companies such as robotics firms Kuka and Kion, typically after long consultation with management and other stakeholders. In November, Geely asked Daimler to issue new shares so it could buy a stake, as a way to access Mercedes-Benz technology for electric cars and trucks, including battery technology, to help Geely comply with a Chinese crackdown on pollution. But the German company turned down the offer saying it did not want to dilute existing shareholders, sources at the time told Reuters. Li changed tactics, and quietly amassed a stake of 9.69 percent worth $9 billion at Daimler's current share price.

Volvo teases new electric SUV for 2023 reveal

At the launch of the Volvo EX90 flagship electric SUV, Volvo teased a new, smaller electric ute for reveal in 2023. At the end of the presentation (around 1:32:50), Volvo CEO Jim Rowan told media in attendance to look closely as animated graphics appeared on the screen behind the EX90. There, shrouded in darkness, we see the rear illumination of the EX90, with flashes of a smaller SUV appearing next to it briefly. Could this be an electric successor to the XC60, perhaps to be called the EX60? It looks like it could be smaller than the XC60, but it's hard to be sure in this dark image. We’ll have to wait until 2023 to know for sure. But Volvo has said it intends to release a new EV each year as it transitions to an all-electric lineup by 2030. Stay tuned. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Volvo Recharge plug-in hybrids get big range and power bumps

Volvo's plug-in hybrid powertrain is getting a significant upgrade for 2023, resulting in all its 90- and 60-series Recharge models effectively doubling their electric range and becoming eligible for the full $7,500 federal tax credit.  A new rear electric motor now delivers 143 horsepower from 87 hp, resulting in a combined output of 455 hp and 523 pound-feet of torque. That's a significant bump from the previous 400 hp and 472 lb-ft. These changes apply to the Recharge versions of the XC90, S90, XC60 and S60, plus the Polestar Engineered trim levels of XC60 and V60.  Below are the new electric ranges for each of the Volvo Recharge models. Their previous ranges are in parentheses. S60 Recharge: 41 miles (22) V60 Polestar Engineered: 41 miles (22) XC60: 35 miles (19) XC60 Polestar Engineered: 35 miles (19) S90 Recharge: 38 miles (21) XC90 Recharge: 35 miles (18) These range increases are the result of a new long-range battery pack featuring a third layer of cells. This brings total capacity from 11.6 kWh to 18.8 kWh.  There are other advantages, as well. The XC60 and S90 Recharges will now be capable of one-pedal driving, whereby regenerative braking is so strongly applied that the car effectively does most of the braking for you. This is already available on Volvo's fully electric models, and although it will initially be available only on the XC60 and S90, Volvo told Autoblog that the others will eventually get it. When exactly? Volvo did not elaborate.   Volvo says the increased battery capacity will improve performance in extreme cold and heat. It will also allow for pre-heating and pre-cooling the car, even when unplugged, without reducing all-electric range.  Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2020 Volvo S60 T8 driver assist systems