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Volvo Cars reports theft of R&D data by hackers

STOCKHOLM — Volvo Cars said on Friday it had launched an investigation into a cyber security breach and the theft of some research and development data that could impact the company's operation. A spokesperson for the firm, majority owned by China's Geely Holding, said it had been approached by a third party, but declined to give any further details. "Investigations so far confirm that a limited amount of the company's R&D property has been stolen during the intrusion," the Swedish carmaker said in a statement. It added that "there may be an impact on the company's operation," without specifying what that might be. It said it did not see an impact on the security of its customers' cars or their personal data. The Gothenburg-based company said it had implemented security countermeasures to prevent further access to its property, while notifying relevant authorities. "Volvo Cars is conducting its own investigation and working with a third-party specialist to investigate the property theft," it said. Shares in Volvo Cars, whose IPO on Oct. 29 was the biggest in Europe this year, were down 3.2% at 1555 GMT.  

Wagons make a bit of a comeback, with new models, sales on the rise

Consider this an official invitation to hop on the wagon bandwagon. There's still tons of room because, well, it's a wagon (and market share is still extremely small). But according to new data, the segment is growing. According to a report from Bloomberg, using data from Edmunds.com, roughly 211,600 Americans purchased wagons in 2018. That is technically down from the 237,600 sold in 2017, but wagon sales in the U.S. are up 29 percent from where they were five years ago. It's also the third year in a row that wagon sales broke the 200,000 mark. The sales trends have been somewhat representative of the availability of wagons. New models have debuted during the past 5 years and therefore offer more opportunity at more brands to buy wagons. In addition to more modest cars such as the Volkswagen Golf Sportwagen, several luxury and performance brands are offering wagons today, such as Mercedes-Benz, Audi, Porsche, Jaguar, Volvo and Buick. (Bloomberg's headlines make the point that "crossovers are for the Kardashians," and wagons are just, well, classier.) This uptick in brand-name availability, as well as extremely well-executed design on most of the wagons currently available, has helped increase the segment's desirability. That, and its ability to better accomplish the same tasks at hand while standing out from the crossover and SUV crowd. Still, the posted numbers represent a small fraction of the total vehicles sold. According to the data, wagons only held a 1.4 percent market share in 2017, the segment's best recent year. Wagons hold a steadfast place in America's past, and they're writing an interesting new story. With the downturn in traditional cars, they may continue to create an unexpected narrative. Related Video: News Source: Bloomberg, Edmunds Audi BMW Buick Volkswagen Volvo Wagon station wagon

Volvo EM90 unveiled as electric minivan for the Chinese market

Volvo is bringing boxy back with the EM90, its first entry into the minivan segment. Described as a "living room on the move," the people-hauler features an electric drivetrain and a spacious-looking cabin with three rows of seats as well as a long list of technology features. Unverified reports claim that the EM90 is based on the Zeekr 009. Volvo hasn't revealed what's under the sheet metal, but design details such as the shape of the windows and the kink on each sliding door seemingly confirm the connection. However, the EM90 features a look of its own that's characterized by Thor's Hammer-shaped lights on both ends, a body-colored front-end panel with a backlit Volvo emblem, and "VOLVO" lettering on the hatch. Volvo explains that the front's design was inspired by "skyscrapers and cutting-edge immersive art." Road noise-canceling technology and a dual-chamber air suspension system should make the EM90 a comfortable space to travel in. If it's too quiet, Volvo offers a 21-speaker Bowers & Wilkins sound system, 5G connectivity, and a roof-mounted 15.6-inch screen that folds into the headliner when it's not in use. It can be used to display entertainment options via third-party apps and it can project a user's phone. If you'd rather get work done, there are tablets integrated into the individual rear seats and a "meeting room" mode that adjusts the screens, the seats, the windows, the air conditioning, and the interior lighting accordingly. "Theater" and "bedroom" modes are available as well. While the rear occupants are working, watching a movie, or sleeping, the driver faces a digital instrument cluster and a 15.4-inch touchscreen for the infotainment system. Several cameras, a millimeter-wave radar, and ultrasonic radars power a wide selection of electronic driving aids. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Power comes from a 268-horsepower electric motor linked to a 116-kilowatt-hour lithium-ion battery pack. Volvo quotes a maximum driving range of up to 458 miles, though it notes that figure was obtained using the Chinese testing cycle. Zero to 62 mph takes 8.3 seconds.  Made in China, the Volvo EM90 is on sale now on the Chinese market. There's no word on whether it will be sold in other countries, Volvo merely said the model is "coming first to China," but we wouldn't bet on seeing it show up in a showroom on our side of the Pacific.