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2022 Volvo C40 Recharge First Drive Review | All electric, all Swedish

PALM SPRINGS, Calif. — Volvo doesnÂ’t rock the design boat often, but the 2022 Volvo C40 Recharge is an exception to the Swedish car companyÂ’s staid, yet handsome norm. The C40 is a fully-electric crossover coupe, and it is VolvoÂ’s first vehicle to adopt this fastback shape. Not only that, but itÂ’s also VolvoÂ’s second electric car, following closely on the heels of the XC40 Recharge, a vehicle weÂ’ll drive soon. With the C40 Recharge being a new shape for Volvo, the design and technology teams are using it to debut some new ideas both inside and out. The rear end features new LED taillight technology from Volvo that features segmented LEDs and sequentially activating turn indicators for a different look than the typical fully-lit Volvo taillight. Its grille is debuting a new “Iron Mark” that houses a brand-new (and improved) suite of radar for the driver assistance systems — the logo is also now heated to ensure that neither ice nor snow buildup will stop the systems from functioning.  As for the crossover coupe part of this design, youÂ’ll notice the rear is full of spoilers. VolvoÂ’s head of design, Eric Beak, tells us that the dual, fin-like rooftop spoilers are there as aerodynamic aids in a bid to increase range. Meanwhile, the big spoiler jutting out on the carÂ’s trailing edge is designed to give the car greater stability at high speeds by reducing lift. The 20-inch wheels you see pictured here are the only option, so hopefully you like them. We do, and we like the look of this car overall. Photographs donÂ’t properly capture the angularity and shape of the body panels, but the C40 is a striking crossover coupe when you get up close to it. What could ultimately be even more controversial than the exterior design are the interior material choices. You wonÂ’t find an inch of leather covering the C40Â’s interior. Instead, Volvo is focusing on sustainable materials made using recyclables. For example, the seats are constructed of VolvoÂ’s suede-like Microtech material that is made of recycled polyester. Ditching leather is great, so long as the replacement is suitable for a luxury vehicle at a luxury price, and in this case, it works in nearly every area. Our one complaint is the steering wheel, for the synthetic leather substitute used here feels too much like plastic and is nowhere near as nice or supple to hold as quality leather is. When it comes to driving and charging the C40, the experience is a vaguely familiar one.

2024 Volvo C40 and XC40 Recharge First Drive Review: Back to the RWD future

The 2024 Volvo XC40 Recharge and C40 EVs will be available with rear-wheel drive, replacing the front-wheel-drive version that has been the fraternal pairing’s single-motor base model. This is obviously newsworthy — why else would I be writing about it? But does it actually mean anything? After driving both of these vehicles around the lakes, seaside, perfectly-maintained highways, and cobblestoned urban streets proximate to the brandÂ’s headquarters in Gothenburg, Sweden, I can say that the answer is, not really. But thatÂ’s not really VolvoÂ’s fault. The last time Volvo sold a rear-wheel-drive vehicle in the United States was 1998 when the cushy, brick-like 960 was retired (officially S90 and V90 in their final year). Everything thereafter was front-wheel drive or at least on a front-drive-based platform, in no small part due to the additional all-weather traction and stability afforded by the additional weight of an internal combustion engine and transaxle over the drive wheels. In short, it was safer, and even as Volvo moved away from decades of arcane, rectilinear design, safety remained its raison dÂ’etre.   That hasnÂ’t changed, but according to Volvo, EVs have fundamentally changed vehicle dynamics, centers of gravity, and weight distribution to refute the front-drive argument. A Volvo spokesperson told me that this new one-motor layout in the XC/C40, driving the rear wheels, with contemporary advanced driver assistance systems, is better in inclement weather than a gas-engine/FWD combo. That explains why the switch to a standard rear-drive layout doesnÂ’t run afoul of VolvoÂ’s established ethos, but why make the switch in the first place? Whether it was the plan all along, or just an advancement of next-generation technology to prolong and extend the relevance of these vehicles, is not something Volvo would comment on. In any event, many of the base EVs that are in or near the XC/C40Â’s competitive set — the VW ID.4, the Kia EV6, the Hyundai Ioniq 5 — feature rear-wheel drive in their single-motor setup. It is notable that all of those cars were developed from the ground up as EVs and could be optimized for the aforementioned dynamics. The XC40 and C40 were built on a platform capable of accommodating gas-only, plug-in hybrid and full-electric powertrains.

Volvo's $2.9 billion stock IPO is a key test in shift to EVs

Volvo Car AB is looking to raise 25 billion kronor ($2.9 billion) in a Stockholm initial public offering in a test for automakers amid the transition to electric vehicles. The Swedish carmaker, owned by China’s Zhejiang Geely Holding Group Co., is offering shares at 53 kronor to 68 kronor each (about $6-$8), according to a statement Monday.  The deal values Volvo Cars at as much as $23 billion, 11 years after the Chinese firm bought the business from Ford Motor Co. for $1.8 billion. The IPO is set to be EuropeÂ’s largest since January, according to data compiled by Bloomberg. The carmaker, with an ambitious plan to only sell full electric cars by 2030, plans to use the funds to add carmaking capacity so it can nearly double annual sales to more than 1.2 million vehicles. Volvo Cars also plans to construct a battery plant in Europe. “We have a very clear strategy to be an electric company in 2030 and weÂ’ve been on that journey for some years now,” Volvo Cars CEO Hakan Samuelsson said in an interview. “With this, of course, we can secure that transformation, because of course, itÂ’s not free of charge.” VolvoÂ’s projected market capitalization of about $20 billion compares to roughly $65 billion for BMW AG, while the German premium carmaker produces more than 2 million vehicles versus Volvo CarsÂ’ 660,000 last year. Newer entrants to the industry such as ChinaÂ’s Nio Inc. and Tesla Inc. have seen their share prices surge past traditional manufacturers even as they sell only a fraction of the number of vehicles. The IPO also comes less than a month after electric-vehicle maker Polestar, controlled by Volvo Cars and Geely, said it will go public in New York via a blank-check merger. The deal implies an enterprise value of $20 billion for the startup, with Volvo Cars expecting to hold a 50% stake in Polestar after it lists. While the century-old Swedish industry stalwart and Polestar have similar valuations, 4-year-old Polestar has a target of delivering only about 29,000 cars this year. Geely previously attempted to take Volvo Cars public in 2018, but called off the listing after investors were said to balk at its valuation expectations of as much as $30 billion.  A group of pension funds and institutional investors have committed to buying 6.4 billion kronor worth of shares in the IPO. The offering of as much as 21% of Volvo Cars runs through Oct. 27, and the shares are set to start trading in Stockholm on Oct. 28. Goldman Sachs Group Inc.