We Finance 2002 Volvo S60 2.4t Awd Prempkg Touringpkg Mroof Htdsts Lthr Kylssent on 2040-cars

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Daimler and Volvo could jointly develop internal combustion engines

BERLIN — Luxury German carmaker Daimler and Volvo, owned by China's Geely, are considering cooperating to cut the costs of developing combustion engines, a magazine reported on Sunday, citing unnamed company sources. The Automobilwoche weekly cited a Volvo manager as saying there were initial talks with Daimler, but no concrete plans, while a company spokesman said it was too early to talk about firm projects, although it was not excluding anybody. A Daimler spokesman said the company's cooperation with Geely, which owns a 10% stake in the German carmaker, was developing in a positive way, but declined to comment further. Global tariffs, accelerated by a trade war between China and the United States, as well as higher investment requirements for electric and autonomous vehicles, are forcing carmakers to seek new ways to cut and share costs. In October, Volvo said it would merge its engine development and manufacturing assets with those of Geely, creating a division to supply in-house brands and also potentially others with next-generation combustion and hybrid engines. Automobilwoche said this new division would start operating by the end of March, which could be a possible starting point for cooperation with Daimler, while a further step could be a partnership to develop electric power trains. Geely and Daimler have said they plan to build the next generation of Smart electric cars in China through a joint venture and the two companies are also cooperating on a premium ride-hailing service in China. Geely bought Volvo Cars in 2010 from Ford, allowing the Swedish brand to operate on an arms-length basis. But in recent years, it has deepened cooperation between the two brands. Volvo already supplies engines to some Geely-branded vehicles, sharing technology through Geely's Lynk brand. Both companies share and develop common vehicle platforms. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

2025 Volvo S60 the last model year for the sedan in the U.S.

Once Volvo finally got the EX90 headed down assembly lines at the automaker's South Carolina plant, the plant's other product, the S60 sedan, was on borrowed time. A few days after the EX90 news, Instagram account volvo.forlife posted a pic with the caption, "Did you know that with the start of production of the @volvocars #VolvoEX90 at the Charleston, South Carolina plant, the production of the #VolvoS60 will also be coming to an end?" The S60 got about three more days of borrowed time, Volvo telling Road & Track that "After five years Volvo Cars is ending production of the S60 sedan in Ridgeville, South Carolina at the end of June 2024 for the U.S. and some other markets to focus on the all-new EX90." We suspect the sedan would have died earlier if EX90 production had commenced on time. The reprieve could have given the news more time to infiltrate the back channels, and might help explain why S60 sales are up 255% so far this year. Volvo's Chengdu, China plant that also makes the S60 will continue to do so, but those cars aren't coming here. The South Carolina facility can now concentrate on ramping up output of the Volvo EX90, already underway, and the Polestar 3, which commences local shortly. We haven't had an S60 sit through Autoblog exams for a bit, but the the sedan's seen no major revisions since we last drove the current third generation introduced in 2019. We lauded it for fantastic styling, a luxurious interior, and robust tech, dinging it only for a braking system not totally prepared for a driver to enjoy the dynamic potential of a 4,000-pound sedan with 400 horsepower and 472 pound-feet of torque.    That T8 Inscription trim is no more, but the rest of the S60's plaudits remain valid. Until inventory dries up, the S60 comes in three trims priced from about $45,000 to $53,000 before options. All are powered by turbocharged 2.0-liter four-cylinder mild hybrid making a combined 247 horsepower and 248 pound-feet of torque, in front- or all-wheel-drive, and rated to tow 2,000 pounds.    

Geely wants to be a tech-sharing 'friend' of Daimler in $9B bet

Chinese carmaker Geely has built up an almost 10-percent stake in Daimler in a $9 billion bet by its chairman that he can access the Mercedes-Benz owner's technology in the growing battle for the future of automotives. The purchase by Li Shufu, Geely's founder and main owner, means China's largest privately-owned automaker is now the biggest shareholder in Germany's Daimler. Geely said on Saturday there were no plans "for the time being" to raise the stake further. Instead, it will seek to forge an alliance with Daimler, which is developing electric and self-driving vehicles, to respond to the challenge from new competitors such as Tesla, Google and Uber. "No current car industry player is likely to win this battle against the invaders from outside without friends. To achieve and assert technological leadership, one has to adapt a new way of thinking in terms of sharing and combining strength. My investment in Daimler reflects this vision," Li said. "Daimler is pleased to announce that with Li Shufu it could win another long-term orientated shareholder, which is convinced by Daimler's innovation strength, strategy and future potential," the German company said in a statement. Geely officials plan to travel to Stuttgart to meet Daimler executives early next week and also hope to meet top German government officials in Berlin, two sources familiar with the matter told Reuters. The Chinese firm plans to use the meetings to underline that it intends to be a supportive long-term investor, they said. Daimler had no immediate comment on any meetings. Geely and the German economy ministry declined to comment. Chinese investors in German technology companies have tended to take a consensual approach, buying incremental stakes in companies such as robotics firms Kuka and Kion, typically after long consultation with management and other stakeholders. In November, Geely asked Daimler to issue new shares so it could buy a stake, as a way to access Mercedes-Benz technology for electric cars and trucks, including battery technology, to help Geely comply with a Chinese crackdown on pollution. But the German company turned down the offer saying it did not want to dilute existing shareholders, sources at the time told Reuters. Li changed tactics, and quietly amassed a stake of 9.69 percent worth $9 billion at Daimler's current share price.