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Volvo recommits to Sweden with development of next-gen platform and engines

Taking into account the facts that Volvo is now owned by China's Geely and how poorly the European automotive market has been recently, we would have definitely understood if Volvo moved production of its products out of its home market. And yet, the automaker has confirmed that it will be investing billions of dollars into new platforms and engines that will be made in Sweden. On a global scale, Volvo is making roughly $11 billion of investments, and close to half of that is being earmarked for Sweden for plant expansion and upgrades.
The new Scalable Product Architecture (SPA) platform will be the used as the basis for most future Volvo products starting with the next-generation XC90 that will be debuting at the end of 2014. SPA will be used to make up two-thirds of Volvo's sales, and gives Volvo a quicker and easier break from Ford-derived platforms. As for the Volvo Engine Architecture (VEA) family of engines, there are really no details about this mill except that it will be a four-cylinder that is more fuel efficient than current engines.
Scroll down for the Volvo press release.

2024 Volvo EX90 SUV revealed as forward-looking electric flagship

STOCKHOLM — Volvo has unveiled its EX90 electric three-row SUV in Stockholm, Sweden, representing the future of the brand with a focus on sustainability, safety and technology-driven design. The EX90 will be offered with two twin-motor, all-wheel-drive powertrain options. The first offers a total of 402 horsepower and 568 pound-feet of torque, and a 0-60 time of 5.7 seconds. The performance version is good for a heaping 496 horsepower and 671 pound-feet of torque, and 0-60 shrinks to 4.7 seconds. Its 111-kilowatt-hour battery (107-kWh usable), supplied by CATL, will provide up to 300 miles from a full charge, replenishable at a DC fast charger from 10-80% in 30 minutes at a peak charging rate of 250 kW. It will feature bi-directional charging, allowing the EX90 to supply electricity to your home, appliances or another Volvo EV. As far as size, the EX90 is 198.3 inches in overall length, eclipsing the XC90 by 3.3 inches in length with an identical 117.5-inch wheelbase. On the exterior, we see the Hammer of Thor daytime lights with a vertical bar below representing the lightning strike of the hammer. The horizontal lighting opens up like eyelids tto reveal the nighttime lights behind them. Up top, the lidar unit is prominent, but artfully blended into the black of the roof. The 22-inch wheels feature aerodynamic inserts that reduce turbulence; 20- and 21-inch wheels will also be available. The door handles rise to greet you when you approach with your digital key — your phone — from 30 feet away. The rear lights borrow their vertical signature from the C40. In all, the design is very "Scandinavian," meaning clean, inspired by nature and harmonious with technology, as Volvo design head Robin Page explained to us. True to the Volvo brand, safety is paramount. The EX90 utilizes cameras, radar and lidar, along with Nvidia-powered software, to take stock of the vehicleÂ’s surroundings, as well as the driverÂ’s gaze and attention, to help keep the occupants safe. 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.

Volvo Cars sees flat or lower retail sales this year

STOCKHOLM — Volvo Cars flagged a potential dip in retail sales this year after posting higher second-quarter profits. Supply problems, above all a global shortage of semiconductors, have squeezed output and retail sales in recent quarters, but Volvo said it was seeing a "marked improvement" in the stabilization of its supply chain. The Sweden-based carmaker said on Wednesday it expected full year retail deliveries to be lower or on par with 2021, while wholesale volumes will increase. "However, due to the time lag between production and retail deliveries, those improvements are not expected to result in an increase in retail sales during the calendar year," the company said. Volvo Chief Executive Jim Rowan said the company would "keep an eye on" consumer sentiment, not least due to higher inflation. "But right now demand is very strong," he said. Volvo's quarterly operating profit rose to 10.8 billion Swedish crowns ($1.06 billion) from 4.8 billion a year ago as accounting effects from the listing of high-performance automaker Polestar gave a boost. Operating earnings for the core business at Volvo Cars, majority owned by China's Geely Holding, reached 4.6 billion in the quarter. "Volvo reported a solid set of Q2 results in the light of multiple hurdles including semiconductor constraints and impact of Chinese lockdowns on demand," investment bank JPMorgan said in a note. Volvo has been a strong performer in recent years and recorded 2021 earnings that surpassed pre-pandemic levels.