2005 Volvo S60 2.5t on 2040-cars

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Polestar gets $1.6 billion boost from Volvo, other big stakeholder

Polestar said on Thursday it had secured $1.6 billion in financing from its two main shareholders to help it deliver its growth plans amid volatile markets. Volvo, which co-founded the brand with China's Geely in 2017, said it would provide an $800 million loan to the firm. Its other major shareholder, PSD Investment, will provide the same amount through "direct and indirect financial and liquidity support," Polestar said. Volvo, which owns just over 48% in Polestar, said its loan included options for Volvo to convert some of its loans to equity in a potential future equity raising by Polestar. "We welcome the continued support from our major shareholders at a time when the capital markets are volatile and unpredictable," Polestar CEO Thomas Ingenlath said in a statement. The Sweden-based carmaker said the funding, alongside previously secured resources, would provide the company with sufficient funds through 2023. In June, Polestar was listed on the Nasdaq through a merger with a special purpose acquisition company (SPAC). Volvo, like other major carmakers, has in recent years invested heavily in making its own electric vehicles and has also said it was committed to supporting Polestar. Volvo aims to sell only fully electric cars by 2030, while Polestar has a goal to launch three more cars by 2026. In February, Volvo formed a joint venture with battery manufacturer Northvolt to build a battery plant in Gothenburg which would produce battery cells specifically for electric Volvo and Polestar cars. However, carmakers and suppliers are struggling as costly investments in an electric future coincide with rampant inflation and soaring energy prices. Polestar's third quarter results are due on Nov. 11 Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2024 Polestar 3 revealed

2019 Volvo V60 vs. wagon competitors: How they compare on paper

The next-gen Volvo V60 was finally revealed this week. The outgoing model has been on sale since 2011, getting a few minor updates along the way. The new model is based off Volvo's Scalable Platform Architecture that underpins other models like the XC90 and XC60 crossovers and V90 wagon. The V60 will launch with two engines, with a powerful hybrid coming sometime down the line. Since the last V60 hit the market, Audi, Buick and BMW have all released their own flavor of wagon. Like Volvo, BMW sells a traditional sedan-based model. Audi and Buick's wagons are both high-riding models with some very slight off-road pretense, much like Volvo's Cross Country models. We don't have details on the upcoming V60 Cross Country, but, even when accounting for ground clearance, the V60, BMW 3 Series Sport Wagon, A4 Allroad and Buick Regal TourX have a lot of overlap. Check out the specs breakdown below. Discover and compare other wagons and crossovers with our Car Finder and Compare tools. Engines, transmissions and drivetrains Out of the four wagons, the new V60 is the only one that offers two-wheel drive and a hybrid variant. The base V60 T5 uses a 250-horsepower turbocharged 2.0-liter inline four and sends power to the front wheels. Stepping up to the V60 T6 nets buyers an additional 66 horsepower thanks to a twincharged — supercharged and turbocharged — 2.0-liter and all-wheel drive. A T8 model that uses a 390-horsepower plug-in hybrid powertrain will be available soon. All V60s use an eight-speed automatic. The Audi, BMW and Buick are all powered by 2.0-liter turbocharged inline-fours. Additionally, the 3 Series has a 2.0-liter turbo diesel. All three wagons have standard all-wheel drive. The BMW and Buick use an eight-speed automatic, while the Audi sends power through a seven-speed dual-clutch transmission. As base engines go, there's a four-horsepower difference between the most and least powerful models, though the Buick wins out on torque. The V60 T6 matches the Regal TourX's torque figure and trounces every competitor's horsepower rating. The V60 T8 packs more power and torque than any of the competition. Cargo and interior space The outgoing V60 was on the small side for a wagon. This new model rectifies that a bit, though its 48.2 cubic-feet of cargo space with the second-row folded is still substantially smaller than the competition.

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.