2009 Volvo Xc90 3.2 Sport Utility 4-door 3.2l on 2040-cars

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Volvo Cars plans $20 billion stock IPO this month, sources say

STOCKHOLM — China's Geely Holding is in advanced discussions with banks to list its Volvo Cars unit in the coming weeks, three sources told Reuters, in what is expected to be one of Europe's biggest initial public offerings (IPOs) this year. Volvo Cars is aiming for a valuation of about $20 billion in the planned Stockholm listing, the sources said, with one saying the launch was penciled in for the end of September. Goldman Sachs and SEB are leading the transaction, while other banks including BNP Paribas, Carnegie and HSBC are also involved in the deal, the sources added. Volvo Cars declined to comment. Geely did not immediately respond to an emailed request for comment outside normal business hours in China. SEB and Goldman Sachs declined to comment. The other banks were not immediately available. Geely, which bought Volvo from Ford more than a decade ago in the biggest acquisition by a Chinese firm of a foreign car maker, sought to float shares in the Swedish firm in 2018 but then pulled the deal citing trade tensions and a downturn in automotive stocks. Traditional carmakers have fallen out of favor in recent years, as Tesla has risen to be one of the world's most valuable companies, putting the focus on electric vehicles. Many European firms have pivoted toward the electric sector, including Volvo, which aims to only make fully electric cars by 2030 and owns a 49.5% stake in electric car maker Polestar. Valuation Gothenburg-based Volvo Cars aims to secure a valuation of roughly $20 billion, one of the sources said, while another mentioned a possible range of $20 billion to $30 billion. A third source suggested a $16 billion valuation was more realistic, citing the firm's revenue outlook. A $20 billion valuation for Volvo would be equivalent to six to seven times its earnings, a level some analysts say is high although it would put it in line with rivals Daimler and BMW. Tesla's valuation is more than 70 times that. NordLB's automotive analyst Frank Schwope estimated a valuation range of $10 billion to $15 billion. "The strong margins seen in the first half of 2021 are unlikely sustainable as the market benefited from a strong post-pandemic rebound that is unlikely to continue," Schwope said. For Geely's founder Li Shufu, who bought Volvo for $1.8 billion, the listing is a milestone on the road to transport of the future, where cars are part of an electrified network of mobility services generating data and business opportunities.

Volvo sets high carbon price to assess sustainability of new projects

GLASGOW — Swedish automaker Volvo said on Wednesday it had set a price on carbon emissions from its operations of 1,000 Swedish crowns ($116.30) a tonne, part of attempts to ensure all future projects are sustainable. Announcing the move at global climate talks in Scotland as it joined an imitative to phase out fossil fuel cars and vans, the company said it had deliberately set a relatively high price to "future proof" itself. Negotiators at the COP26 talks are trying to finish rules to create an international carbon market. Put simply, it would allow some countries to pay others to cut emissions — with the aim of pushing much-needed cash into green projects around the world. Volvo said it was the first automaker to set such a price across its whole operations, as part of its aim to be a climate neutral company by 2040. The price is double the current cost of carbon in the European Union's carbon trading scheme. Going forward, every new car project would go through a "sustainability sense-check", with a carbon price assigned throughout the life of the vehicle, to ensure it would be profitable even under a much higher government-set price. “A global and fair price on CO2 is critical for the world to meet its climate ambitions, and we all need to do more,” Bjorn Annwall, chief financial officer, said in a statement. “We strongly believe progressive companies should take the lead by setting an internal carbon price. By evaluating future cars on their CO2-adjusted profitability, we expect to accelerate actions that will help us identify and reduce carbon emissions already today.” Also on Wednesday, Volvo signed up to the Glasgow Declaration on Zero Emission Cars and Vans, along with peers including Ford and General Motors, aiming to end production of internal combustion engines by 2040. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Volvo at CES announces Ride Pilot autonomy coming to California, deeper Google integration

Volvo just made a number of technology announcements at this year’s CES. We learned more about the companyÂ’s efforts toward autonomy, and in the near term, VolvoÂ’s infotainment system is getting some noteworthy updates. WeÂ’ll start with autonomy, and the system that Volvo is calling “Ride Pilot.” Volvo says itÂ’s working with the autonomous driving software company Zenseact and Luminar to bring more autonomy to its future vehicles. Today, it announced that the “Ride Pilot” system that will ultimately arise from this collaboration will first be offered to customers in California before rolling it out in other regions. Volvo is limiting initial use to California, because it says "the climate, traffic conditions and regulatory framework provide a favorable environment for the introduction of autonomous driving." The system will take full control of the car when it's on. That means the driver can do what they want, not limited to reading, writing or working, Volvo says. "The name ‘Ride PilotÂ’ implies what the driver can expect: when the car is driving on its own, Volvo Cars takes responsibility for the driving, offering the driver comfort and peace of mind," Volvo explains. ItÂ’ll be available as an add-on subscription service to a fully electric SUV that will be revealed later this year. How much it will cost per month or per year is still a mystery, but you wonÂ’t be able to factor it in with the standard purchase price of the vehicle. Said EV will be equipped with five radars, eight cameras and sixteen ultrasonic sensors. Testing for the above autonomy system is set to take place in California by the middle of this year, and itÂ’s already ongoing in Sweden and across Europe. Only once Volvo says it's verified for use on highways will this feature be available to subscribe to. Volvo does not provide a year estimate on the initial rollout. Google and Android Automotive update Volvo cars with the Google-based Android Automotive infotainment system will soon be integrated with the Google Home ecosystem and Google Assistant-enabled devices. This should give you greater ability to control your car with any Google Assistant device in your home. You could theoretically set charging scheduling (for an EV or PHEV), lock your doors or start the car via voice command — for more sensitive commands like unlocking the car, Volvo says it will require a two-factor authentication.