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Volvo Cars sees 'tremendous growth' in EVs, CEO says

DAVOS, Switzerland — Volvo Cars remains confident of "tremendous growth" in the electric vehicles market, CEO Jim Rowan told the Reuters Global Markets Forum in Davos on Wednesday, countering gloomier projections from rivals. The carmaker, which aims for electric vehicles (EVs) to contribute half its sales volume by mid-decade and to sell only EVs by 2030, said the growth in demand for its premium brand was stronger than that of mass-market rivals. "We have much more pricing power and people have got more disposable income so they can afford it if they want to drive an EV," Rowan said. The Volvo Cars CEO said that, in contrast to others, he saw good growth globally for electric cars, with particular strong demand in Europe. Over the past year, many automakers have warned that the anticipated growth of EVs has been slow to emerge due to poor demand, heavy price cuts, lower subsidies, and supply chain issues. Volvo has previously said that it has no intention of participating in the Tesla-ignited price war due to its position as a premium brand and saw good margins on its electric cars. Higher costs caused by disruptions on shipping in the Red Sea would also not affect customers, the CEO said, who stated that any additional costs would be absorbed by Volvo. Last week, Volvo said it would halt production at its factory in Belgium for three days as a result of a delivery of gearboxes being delayed due to the disruption. The CEO also told Reuters that he had high ambitions for India in the next five years with plans to launch the more affordable EX30 there in 2025. By the Numbers Green Volvo Electric Future Vehicles

2019 BMW X7 vs luxury SUV rivals: Comparing specs and photos

Today we get our first-ever look at the first-ever 2019 BMW X7 crossover. We've actually already had our first-ever drive in an X7 Prototype. And so, we thought it appropriate to follow that up today with the first-ever X7 comparison of specs between BMW's first-ever three-row crossover with legitimate room for seven and its many high-dollar competitors. On paper, the 2019 X7 definitely seems to most closely align with the Mercedes-Benz GLS-Class. Their similar dimensions, interior space, engine choices and price would certainly imply where BMW placed the target when developing X7. We used those same elements to determine three-row vehicles likely to be cross-shopped or that should be cross-shopped. These include the Audi Q7, Land Rover Discovery, Volvo XC90 and Lincoln Navigator. Yes, the latter is a truck-based SUV as opposed to a crossover, but tell that to all the people lining out the door at the local Lincoln emporium. They do not care, and neither shall we. We also included the 2019 BMW X5, which was completely redesigned for this year and therefore not the first-ever. That makes it less appealing? Either way, lining the new X5 up with the SUV that leapfrogs it atop BMW's SUV hierarchy should provide a good idea of just how much more you get by going up a model number. Engines and model lineup Again, the X7 aligns closest with the GLS, offering a base six-cylinder in its xDrive40i model and an upgrade turbo V8 in the xDrive50i. The Mercedes engines have greater output, but the GLS still accelerates slower than the BMW. As the 2019 X5 offers the exact same engines, we would also expect the X7's fuel economy to be superior to the GLS once its estimates are announced. It should be noted, though, that the GLS offers a high-powered AMG model whereas we anticipate the X7 to offer a plug-in hybrid model comparable to the X5 upcoming xDrive45e model. The other luxury SUVs diverge in their engine choices and model lineup. The Audi Q7 offers a base turbocharged four-cylinder, as does the Volvo XC90 in its T5 model, which we left out of the above chart entirely for space reasons. That the Q7 3.0 TFSI supercharged V6 gets the same fuel economy estimates as the four-cylinder is proof positive that engine is purely around for its lower base price.

Aurora, Volvo partner on self-driving heavy trucks

Global heavy truck manufacturers are lining up technology partners to help build out self-driving systems for long-haul freight that could see widespread commercial service well before self-driving robotaxis. The latest alliance was announced Tuesday between Sweden's Volvo Group and California-based Aurora Innovation, building on a working relationship that dates back several years, the partners said. Analysts expect more such partnerships, as relatively young technology firms such as Aurora connect their autonomous vehicle systems knowledge with the deep manufacturing experience of legacy companies such as Volvo Trucks. “You can't go at it alone in autonomy," said Grayson Brulte, president consultancy Brulte & Company. "The trucking industry is a completely different personality" than the passenger vehicle business, with different requirements. Most of the larger truck manufacturers have turned to self-driving tech partners, driven in part by a chronic shortage of drivers and a boom in e-commerce, fueled by the global pandemic. In January, Aurora announced a strategic partnership with U.S. truckmaker PACCAR, whose brands include Peterbilt and Kenworth. Aurora's founders include self-driving veterans from Tesla and Alphabet's Waymo. Aurora last year said its first commercial product would be in trucking "where the market is largest (and) the unit economics are best." In 2020, Waymo Chief Executive John Krafcik told Reuters that "goods delivery is a bigger market than moving people" as Waymo expanded its focus to include heavy trucks. Germany's Daimler has formed a self-driving truck alliance with Waymo, while China's largest heavy truck maker, FAW Jiefang, has partnered with Plus AI. Volkswagen's Traton truck group is an investor in TuSimple, as is U.S. truckmaker Navistar. In a January earnings call, Tesla Chief Executive Elon Musk said the long-delayed Semi electric truck is highly likely to be the first of the company's vehicles to achieve full self-driving capability. Green Volvo Truck Autonomous Vehicles Commercial Vehicles volvo trucks Aurora