2002 Volvo S60 2.4t Sedan 4-door 2.4l on 2040-cars

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Volvo Cars plans $20 billion stock IPO this month, sources say

STOCKHOLM — China's Geely Holding is in advanced discussions with banks to list its Volvo Cars unit in the coming weeks, three sources told Reuters, in what is expected to be one of Europe's biggest initial public offerings (IPOs) this year. Volvo Cars is aiming for a valuation of about $20 billion in the planned Stockholm listing, the sources said, with one saying the launch was penciled in for the end of September. Goldman Sachs and SEB are leading the transaction, while other banks including BNP Paribas, Carnegie and HSBC are also involved in the deal, the sources added. Volvo Cars declined to comment. Geely did not immediately respond to an emailed request for comment outside normal business hours in China. SEB and Goldman Sachs declined to comment. The other banks were not immediately available. Geely, which bought Volvo from Ford more than a decade ago in the biggest acquisition by a Chinese firm of a foreign car maker, sought to float shares in the Swedish firm in 2018 but then pulled the deal citing trade tensions and a downturn in automotive stocks. Traditional carmakers have fallen out of favor in recent years, as Tesla has risen to be one of the world's most valuable companies, putting the focus on electric vehicles. Many European firms have pivoted toward the electric sector, including Volvo, which aims to only make fully electric cars by 2030 and owns a 49.5% stake in electric car maker Polestar. Valuation Gothenburg-based Volvo Cars aims to secure a valuation of roughly $20 billion, one of the sources said, while another mentioned a possible range of $20 billion to $30 billion. A third source suggested a $16 billion valuation was more realistic, citing the firm's revenue outlook. A $20 billion valuation for Volvo would be equivalent to six to seven times its earnings, a level some analysts say is high although it would put it in line with rivals Daimler and BMW. Tesla's valuation is more than 70 times that. NordLB's automotive analyst Frank Schwope estimated a valuation range of $10 billion to $15 billion. "The strong margins seen in the first half of 2021 are unlikely sustainable as the market benefited from a strong post-pandemic rebound that is unlikely to continue," Schwope said. For Geely's founder Li Shufu, who bought Volvo for $1.8 billion, the listing is a milestone on the road to transport of the future, where cars are part of an electrified network of mobility services generating data and business opportunities.

2022 Volvo S60 Black Edition darkens the sedan's trim

Volvo revealed the 2022 Volvo S60 Black Edition today, firmly hopping on the trend of blacking out different trim bits that countless other cars offer. The staid but handsome S60 is given a dash of attitude with this appearance package, and we like the look. Volvo says the Black Edition features glossy black paint for the grille, Volvo badge, grille slash, window trim badging and exhaust tips. Additionally, the 19-inch wheels are painted in the same shade of glossy black. You’ll have two paint options: Onyx Black Metallic or Crystal White Metallic.  All of the badging in black is a unique look for Volvo products, as weÂ’re accustomed to seeing brightwork on all of SwedenÂ’s cars these days. You can get the Black Edition for the Momentum, R-Design and Recharge (PHEV) models, so itÂ’s essentially available across the model range. It adds $700 to the purchase price, meaning a base, front-wheel-drive Momentum Black Edition costs $40,995 after destination. The S60 Black Edition is going to be built in limited quantities for the 2022 model year — Volvo says only 450 total will be produced. So if you like what you see here, best go out and snag one before theyÂ’re all spoken for. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Lexus LC 500 dominates 2016 EyesOn Design Awards

The Lexus LC 500 captured top honors for the best-designed production car and the best interior at the 10th annual EyesOn Design awards at the Detroit Auto Show. The awards are handed out by the Detroit Institute of Ophthalmology. The Buick Avista won the concept car category, just as its four-door predecessor, the Avenir, did last year. Other winners this year included the Chrysler Pacifica, which won for the best-designed production "truck" (as crossovers and minivans are sometimes categorized), and the Audi H-Tron Quattro, which won for the best concept truck. The Acura Precision concept was also recognized for its "innovative use of color, graphics, and materials." And the new Volvo S90 was singled out for its human-machine interface. The panel of jurists this year included designers from an array of automakers and art schools. Several past honorees for the organization's LifeTime Design Achievement Award participated in the voting, including GM's Wayne Cherry, BMW DesignworksUSA founder Chuck Pelly, Hyundai's Peter Schreyer, and Jack Telnack (formerly of Ford). Telnack also served on the select panel of chief judges this year, alongside Chris Chapman from Hyundai, Dave Marek from Acura, and Stewart Reed from the Art Center College of Design. Lexus Takes 2 and Buick Wins Best Concept For 2nd Year at EyesOn Design Awards at NAIAS January 12, 2016, Detroit, Michigan. A panel of design leaders representing worldwide automotive manufacturers and transportation design chiefs from top design schools around the globe today selected these vehicles to receive the following EyesOn Design Awards at the North American International Auto Show: * Production Car: 2017 Lexus LC500 * Production Truck: 2017 Chrysler Pacifica * Concept Car: Buick Avista Concept * Concept Truck: Audi h-tron Quattro Concept * Best Designed Interior: 2017 Lexus LC500 * Innovative Use of Color, Graphics and Materials: Acura Precision Concept * Human Machine Interface: 2017 Volvo S90 Chief Judges were: Chris Chapman of Hyundai, Dave Marek of Acura, Stewart Reed of ArtCenter College of Design, and Jack Telnack of Ford Motor Company (retired). 2016 marks the tenth year the EyesOn Design Awards have been an integral part of the North American International Auto Show. Related Video: Featured Gallery 2016 EyesOn Design Award Winners News Source: EyesOn Design Detroit Auto Show Acura Audi Buick Chrysler Lexus Volvo chrysler pacifica volvo s90 lexus lc 500 acura precision concept