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Volvo to convert all SUVs and sedans into EVs, develop electric luxury van

Volvo Cars is gearing up for an electric blitz to convert all its mainstay models — three SUVs and two sedans — into electric vehicles and to introduce a luxury electric van aimed at boosting sales in Asia, two people with knowledge of the plans said. The Swedish carmaker, 82%-owned by ChinaÂ’s Zhejiang Geely Holding Group, is expected to launch at least six new battery electric vehicles through 2026, the two people told Reuters. Volvo has announced an objective to make its entire lineup fully electric by 2030. The companyÂ’s Australia unit has said it plans to sell only EVs in that market by 2026. The previously unreported product plans amount to the largest revamp of VolvoÂ’s model line-up since Geely acquired the brand from Ford in 2010. Under Geely, Volvo initially started to share technologies such as car platforms with Geely. The makeover for Volvo, a Swedish brand that built a reputation for safety and utilitarian design, follows from a greater focus on customer trends in Asia and a push to win sales there, the people said. The two people with knowledge of VolvoÂ’s planning asked not to be named because details have not been announced by the company. Geely declined to comment. Among the new battery electric cars being planned for the next four years is a Volvo-branded MPV or van that would be based on a vehicle GeelyÂ’s Zeekr brand sells in China. Called the Zeekr 009, the hulking, battery-electric van pictured above, which starts at about 500,000 yuan ($74,179), offers three rows of seating. The vehicle competes against the likes of the Toyota Alphard, a business or family van, with airplane business class-like seats for passengers that has proven popular in Asian markets such as China and Japan as a limousine alternative. Volvo has moved development work on sedans and the coming people-mover model to its Shanghai research and development hub, they said. That center, which has tripled its design staff to about 60 people, has recently moved to a new and larger building in Shanghai, one of the sources said. The first of VolvoÂ’s new planned electric models, the EX90 sport-utility crossover, was unveiled late last year. It is expected to hit showrooms in early 2024. Other battery electric cars in the pipeline include electric versions of VolvoÂ’s mainline products – the XC90, XC60 and XC40 crossover vehicles and the S60 and S90 sedans, the sources said.

Cars with the worst resale value in 2022

Car values are all over the map right now. Used vehicles that were worth a small fortune earlier this year are now coming back to Earth, but the new vehicle supply remains tight. Prices are still elevated overall, but some models have seen more severe price drops. Depreciation strikes almost every model, supply constraint or not, though a few vehicles are leading the way. New research from analytics iSeeCars found that a handful of cars depreciated more than 50 percent over five years, with the BMW 7 Series dropping 56.9 percent and an average price cut of $61,923 over that time. The vehicles with the highest depreciation — or worst resale value — over five years: BMW 7 Series: -56.9% Maserati Ghibli: -56.3% Jaguar XF: -54% Infiniti QX80: -52.6% Cadillac Escalade ESV: 52.3% Mercedes-Benz S-Class: 51.9% Lincoln Navigator: -51.9% Audi A6: -51.5% Volvo S90: -51.4% Ford Expedition: -50.7% iSeeCarsÂ’ research showed that midsize trucks, sports cars, and fuel-efficient vehicles were slowest to depreciate over five years, while itÂ’s clear that luxury brands tend to lose value much faster. As iSeeCarsÂ’ Executive Analyst Karl Brauer explained, used buyers donÂ’t value high-end vehiclesÂ’ features as much as the first owners, so resale values tend to be softer. The tech and options that made the cars so expensive and appealing new donÂ’t add the same value on the used market. Read more: Cars with the best resale value Interestingly, electric vehicles also depreciated quite heavily, though they were just short of the abysmal numbers in luxury segments. The Nissan Leaf depreciated most among EVs, dropping by 49.1 percent. The average EV depreciation is 44.2 percent, with the Tesla Model S and Model X sliding in right under the bar at 43.7 and 38.8 percent, respectively. As iSeeCars notes, itÂ’s important to be vigilant when car shopping and not let your emotions win over reason. Shiny new luxury cars look great in the showroom, but you could end up taking a bath when you try selling them a few years later on. Related video: Audi BMW Cadillac Ford Infiniti Jaguar Lincoln Maserati Mercedes-Benz Volvo Car Buying Used Car Buying Ownership Resale Value depreciation

Volvo EX90 EV is heavy on sustainability with new Nordico cabin material

After hints from former Volvo CEO Hakan Samuelson and a trademark application for the term "Embla," we'd suspected the electric successor to the XC90 would be called the Embla. New Volvo CEO Jim Rowan explained that after taking brand familiarity into account, the people who decide the names of things decided "EX90 marks a new iteration on our current nomenclature and is reflective of our transition toward a full-electric lineup by 2030." Another symbol of the transition to all EV all the time is Volvo interior designers believing they have created "one of the most pleasant and elegant car interiors on the market" by "reinterpreting luxury and well-being [through the] essential qualities of Scandinavian design: simplicity, well-being and natural sources." Senior Design Manager Cecilia Stark tells us the nut and bolt of this is Forest Stewardship Council-certified wood, and wool shorn off sustainably raised sheep. Backlit wood trim lines the EX90's cabin, reminiscent of a Scandinavian living room. The wool is a secondary fabric option, buyers first invited to enjoy Volvo's new Nordico synthetic fabric made from ingredients like recycled PET bottles and responsibly sourced pine resin from managed forests in Sweden and Finland. Counting Nordico and other synthetic textiles in places like the carpeting, Volvo says there are "almost 50 kilograms of recycled plastics and bio-based materials" in an EX90 cabin, surpassing the amount for every other vehicle in the automaker's range.  There will be a standard luxury aspect to configuring the flagship crossover, though. Mostly discussed as a feature among super luxury makers who offer so many options that buyers can be overwhelmed into analysis paralysis, Volvo designers have created themed "rooms" encompassing EX90 exterior colors, upholstery, and decor. We don't know how many rooms will be offered, and we're not used to seeing exterior hues included in themed packages, so this should be interesting.     Volvo will show the EX90 on November 9. The crossover is slated to go into production at the automaker's South Carolina plant before the year is out. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.