2006 Volvo Xc90 V8 Ocean Race Sport Utility 4-door 4.4l on 2040-cars

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Polestar gets $1.6 billion boost from Volvo, other big stakeholder

Polestar said on Thursday it had secured $1.6 billion in financing from its two main shareholders to help it deliver its growth plans amid volatile markets. Volvo, which co-founded the brand with China's Geely in 2017, said it would provide an $800 million loan to the firm. Its other major shareholder, PSD Investment, will provide the same amount through "direct and indirect financial and liquidity support," Polestar said. Volvo, which owns just over 48% in Polestar, said its loan included options for Volvo to convert some of its loans to equity in a potential future equity raising by Polestar. "We welcome the continued support from our major shareholders at a time when the capital markets are volatile and unpredictable," Polestar CEO Thomas Ingenlath said in a statement. The Sweden-based carmaker said the funding, alongside previously secured resources, would provide the company with sufficient funds through 2023. In June, Polestar was listed on the Nasdaq through a merger with a special purpose acquisition company (SPAC). Volvo, like other major carmakers, has in recent years invested heavily in making its own electric vehicles and has also said it was committed to supporting Polestar. Volvo aims to sell only fully electric cars by 2030, while Polestar has a goal to launch three more cars by 2026. In February, Volvo formed a joint venture with battery manufacturer Northvolt to build a battery plant in Gothenburg which would produce battery cells specifically for electric Volvo and Polestar cars. However, carmakers and suppliers are struggling as costly investments in an electric future coincide with rampant inflation and soaring energy prices. Polestar's third quarter results are due on Nov. 11 Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2024 Polestar 3 revealed

Volvo calls in S60 T5 over oil pressure indicator

As anyone with a driver's license should be able to tell you, the oil pressure indicator on a car is a vital feature. If you don't have enough oil pressure, your engine could seize up, leaving you stranded and causing catastrophic damage for both your automobile and your wallet. Worryingly, then, the National Highway Traffic Safety Administration says that the oil pressure indicator lamp on certain Volvo S60 models is prone to failure, prompting the manufacturer to issue a recall.
The issue pertains to MY2011-2012 Volvo S60s with turbocharged five-cylinder engines manufactured between June 22, 2010 and May 14, 2012. All told, precisely 30,929 units are affected by the recall campaign. The owners of affected models will be notified by Volvo to bring in their cars to their local dealer for a software update. See the official notice below for details.

This Volvo truck is for the birds... literally

If you were mentally scarred by the Alfred Hitchcock thriller The Birds, you may not want to watch this video. For everyone else, this is a rather perplexing event. It appears that thousands of pigeons are released from a Volvo truck at the command of a whistle. It looks visually stunning, but for what purpose? Well, we're not entirely sure, but it looks to be the simultaneous release at the start of a major pigeon race.
Now, we don't suspect that Volvo has eschewed its self-titled Volvo Ocean Race for a more avian-inspired competition. We're also not quite sure where this competition is being held, but it may be an annual event, as we also found a similar video with a different MAN rig on YouTube that was posted in 2011. but if you have even the slightest case of Ornithophobia, you best steer clear of this feathered mob. Otherwise, check out the video of this massive flock on the move in the video below. We've even thrown in a video of the gas station scene from Hitchcock's 1963 classic to get you in the mood.