1998 Volvo S70 Base Sedan 4-door 2.4l on 2040-cars

Auto blog

Geely to sell $1.3 billion of Volvo Truck shares

China’s Zhejiang Geely Holding Group is selling the entirety of its Class B shares in truckmaker Volvo AB that were worth 14.46 billion Swedish krona ($1.32 billion) at the close of trading in Stockholm. In a statement, Geely said the divestment is “in accordance with its long-term strategy” and that it will remain VolvoÂ’s second-largest investor with 88.5 million A shares. “Geely HoldingÂ’s strategic adjustment and inclusion of AB Volvo in its automotive manufacturing and investment portfolio is part of the groupÂ’s risk management and diversified investment strategy,” the company said.   Geely is offering the 49.5 million shares through BofA Securities, Goldman Sachs Bank Europe and Barclays, according to a term sheet. The Sweden-based holding company that owns GeelyÂ’s stock guided that itÂ’s selling for SEK285.9 a share, a more than 2% discount from its closing price. Volvo reported first-quarter operating profit that beat analystsÂ’ expectations on Wednesday, as the truckmaker offset waning orders by charging higher prices. The company has been reducing production as demand returns to more typical levels following a post-pandemic recovery period. Its shares have advanced 12% this year. Geely pared its stake in Volvo in January and also sold some of its holding in Volvo Car AB in November. The holding company behind one of ChinaÂ’s most prominent carmakers early this year had to bail out Polestar, the struggling electric-vehicle manufacturer it started along with Volvo Car.   Earnings/Financials Volvo Truck Commercial Vehicles volvo trucks

2023 Volvo XC40 Recharge First Drive Review: EV SUV is petite, potent and unpretentious

After years of polishing its plug-in hybrid powertrains, Volvo is jumping into the electric vehicle space with both feet. But rather than trying to make an immense splash in the deep end, Volvo elected to start with its entry-level vehicles – the 2023 XC40 Recharge and its mechanical twin, the C40. Fear not. While they may be small, they are charmingly mighty. Volvo was so eager for us to sample the XC40 Recharge that it actually loaned us a 2022 model for the purpose of this writeup after announcing its planned updates for 2023 XC40 lineup. The changes are of virtually no consequence in the context of this review, as most of them serve to catch the standard XC40 up to the Recharge model, which was already equipped with VolvoÂ’s latest goodies, including GoogleÂ’s new Android Automotive infotainment suite. There are some aesthetic updates (ooooooh, new fog light trim!) but nothing truly noteworthy. While the XC40 is meant to appeal to a more crossover-minded buyer, it and the C40 are virtually identical. While Volvo offers pared-down versions of its EV powertrain in other markets, America gets only the “Twin” variants of each, named thusly for their pair of electric motors. Nope, no bargain-priced FWD-only models here. From the $54,645 (destination included) base model on up, you get 402 horsepower, 486 pound-feet of torque and all-wheel drive. It being a Volvo, everything inside is a little bit different (perhaps just for the sake of being so) but without being Saab levels of weird. Take the time-tested process of turning the car on, for example. There isnÂ’t a key nor start button; VolvoÂ’s electrics are just on by default. If youÂ’re in the car and the key is present, youÂ’re live. Put it in whatever gear you like and set off on your way. When youÂ’re done, put it in park, get out, lock the door and, should you need to or want to, plug it in. While that may seem superficially unconventional, itÂ’s fundamentally a very Volvo thing to do. There are those who choose to believe that Tesla deserves credit for normalizing minimalism in car interiors. ThatÂ’s a neat theory, but VolvoÂ’s been doing it better for longer — and not as a disguise for being cheap. Eliminating the on/off switch seems very on-brand for a company whose cabins have long resembled that one section of the Ikea maze where the college kids canÂ’t even afford to window shop.   If anything, the XC40 Recharge and the C40 both lean a little too far in that direction.

Volvo EX90 will provide SunLike sunlight for occupants and cargo

Volvo says another one of the human-centric features coming to the EX90 battery-electric wagon is a sun-like light. A few years ago, Korean firm Seoul Semiconductor developed a range of LEDs called SunLike, the heliotropic name derived from the non-flickering LEDs producing illumination close to the spectrum of planetary daylight. The science bits include a new diode architecture, a purple emitter and different phosphors in place of the usual yellow. The upshot for EX90 occupants is said to be in-car light that's easier on the eyes, less low-light reflection, and color and texture reproduction closer to nature — all that Nordico recycled synthetic fabric, Forest Stewardship Council-certified wood, and wool from sustainably-raised sheep will look more natural.. The lights have found their way into some museums, curators looking for improved color rendition from the artworks. The Swedes say they're the first to use these lights in an automotive application. There will be 72 SunLike LEDs placed throughout the vehicle, being all the non-decorative lights in the cabin ceiling, floor, and door pockets, and the trunk. The design lead for color and materials said, "By utilizing the spectrum of light emitted from the SunLike LEDs, the progressive materials and interior design of the Volvo EX90 stand out more clearly and without colour distortion. Complementing our wood deco and other natural materials inside the cabin, the lights are central to our Scandinavian design language." The Polestar 3 will get the same treatment. The seven-seat, twin-motor EX90 with up to 300 miles of range starts rolling down lines in Volvo's South Carolina plant later this year. The crossover will make safety as important as comfort, the EX90 incorporating cameras, radar, lidar, and Nvidia-powered software to take stock of the vehicleÂ’s surroundings plus the driverÂ’s gaze and attention. The lidar can detect objects ahead to centimeter accuracy from 250 meters (about 820 feet) away in glaring sun or total darkness, Volvo says. Volvo describes the EX90 as “a highly advanced computer on wheels” with the ability to improve over time thanks to over-the-air software updates. Preorders are open now, with "well-equipped" configurations said to come in "at  under $80,000." Deliveries begin in early 2024. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.