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Volvo Cars laying off 1,300 as it steps up cost cuts

Volvo Cars will lay off around 1,300 office-based employees in Sweden as it steps up cost cutting, the Sweden-based automaker said on Thursday. While an earlier efficiency drive had begun to show results, with Volvo this week reporting a strong first quarter, more efficiency was needed, CEO Jim Rowan said in a statement. "Economic headwinds, increased raw material prices and increased competition are likely to remain a challenge to our industry for some time," he said. The 1,300 positions equate to 6% of Volvo Cars' workforce in Sweden. Rowan told Reuters the group did not yet know how much it would save from the new measures. "We're still working the details through on that," he said in an interview. The company said it had issued redundancy notices for 1,100 employees, while the remaining 200 white-collar positions would be identified following a review of the business across Sweden. It said it also expected to cut jobs and reduce costs across its global operations in the coming months, including its consultancies. Rowan said he could not yet specify where those jobs would be cut, but that focus would primarily remain on office-based positions. "We sell in over 80 countries or so worldwide, so I think there's opportunities for us to become more efficient across the entire network," he told Reuters. Volvo Cars shares were down 3.87% at 0848 GMT.   Earnings/Financials Hirings/Firings/Layoffs Volvo SUV Luxury

Volvo's next-generation cars will feature gaming-derived graphics

Volvo joined forces with Epic Games, the company that created the Fortnite franchise, to give its next-generation cars a faster infotainment system with vastly improved graphics. Using technology gleaned from the world of gaming promises to unlock a long list of new features. Don't expect to see a Fortnite-themed display in the XC90's replacement; the partnership isn't going that far. Volvo explained that it will use the Unreal Engine, a real-time 3D creation tool developed for industries outside of the gaming world, to develop the digital interface it will program into future additions to its range. This technology will allow it to deliver richer colors, sharper renderings and new 3D animations. Good graphics aren't worth much if the software is annoying to use, so Volvo will power its next infotainment system with the third-generation Snapdragon Cockpit Platforms designed by Qualcomm. We're told that the end result is a system that's over twice as fast as the one Volvo currently uses, and whose graphic generation and processing capacities are up to 10 times faster. Volvo hasn't released a video of the software in action yet, but we won't have to wait long to see it: the feature will debut in a new flagship model due out by the end of 2022. This isn't the first time that Volvo has enlisted the help of a technology company to design an infotainment system. Its current cars (like the C40 Recharge) are fitted with Google's Android Automotive OS infotainment system. And, the worlds of gaming and in-car technology have collided before: Nissan notably asked Polyphony Digital, the company behind the Gran Turismo franchise, to design the GT-R's display. Featured Gallery Volvo's Epic Games-powered infotainment system Volvo Technology Infotainment

IIHS gives 90 models its Top Safety Pick award in one fell swoop

Although the Audi A7 and the Toyota Sienna are positioned on completely different ends of the automotive spectrum, they overlap in one important area: both earned a Top Safety Pick+ award from the Insurance Institute for Highway Safety (IIHS). They're among the 49 cars that received the distinction for 2021, while 41 additional models scored a Top Safety Pick (without the plus) award from the institute, bringing the number of winners to 90. Earning a coveted Top Safety Pick award from the IIHS is easier said than done. Recipients need to score a good rating in the institute's six crash tests, be available with a front crash prevention system that scores a superior or advanced rating in vehicle-to-vehicle and vehicle-to-pedestrian evaluations, and be offered with (but, crucially, not necessarily fitted standard with) headlights that are either good or acceptable. Vehicles that have good or acceptable headlights across the full range, regardless of trim level, are eligible for the Top Safety Pick+ award. The Hyundai Group (which includes Hyundai, Kia, and Genesis) earned more awards than any other carmaker, with 12 standard Top Safety Pick distinctions and five earning a Pick+. Volvo led the Pick+ chart with its entire lineup of nine vehicles. At the other end of the spectrum, Mitsubishi still hasn't earned a single award, and General Motors only nabbed one of each. Safety is spreading across market segments, according to the IIHS. It pointed out that, in 2020, there were no minivans or pickup trucks on the list of Top Safety Pick recipients. Fast forward to 2021, and the list includes the Honda Odyssey, the Toyota Sienna, and the Ram 1500 crew cab; the first two earned a Pick+. The full list of 2021 award winners is on the IIHS website. Note that, for some models, only units built after a certain date earned an award. This distinction reflects a change (usually in headlights) during the production run. Cars sold in the United States are safer than ever, but automakers still sell vehicles with a zero-star crash test rating in many global markets. Suzuki's 2020 S-Presso flunked a reasonably basic round of tests in 2020. Featured Gallery 2021 Hyundai Palisade View 12 Photos Audi Hyundai Volvo