98 Volvo S70 Turbo Red, Very Good Condition 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

Volvo XC40 gets the merest hint of a mid-cycle update

Scandinavian design is known for its subtlety and minimalism, but even by Nordic standards the Volvo XC40 lineup has received the tiniest wisp of change. Volvo Germany uploaded the new crossover a little early by the looks of it. In front, a slightly reshaped bumper frames Volvo's new Pixel headlights and some T-shaped fog light housings. The grille remains on the mild hybrid and plug-in hybrid XC40 models, but the XC40 Recharge gets the same solid faceplate as on the C40 Recharge. We can't see a difference anywhere else outside save for the wheels; the updated XC40 Recharge sits on the 20-inch aero wheels that debuted on the C40 Recharge, while the hybrid models get a selection of new wheel designs. Looks like Volvo's reworked exterior pacakges, dropping Inscription and R-Design (at least in the UK and French markets that still show the non-facelifted car) for Essential, Core, Plus, and Ultimate packages, the number of choices depending on the model. After that, Bright and Dark trim molding treatments add flair or shadow to the exterior. The battery-electric XC40 Recharge in the U.S. presents the choice of Plus and Ultimate.   The Sage Green and Fjord Blue hues from the C40 make their way to the XC40 Recharge paint palette as well. Inside, tailored wool joins the Microtech and leather dressing options, and high-zoot configuring can get the Orrefors gear selector. The Android-based operating system has been ported to the nine-inch infotainment screen, too.  Since Volvo hasn't finished rolling out this vehicle in Europe, it's likely we're not going to see it until sometime next year, perhaps as a 2023 model. We expect it will be joined by the refreshed XC60 with the larger battery and extended all-electric driving range. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Best luxury SUVs of 2022 and 2023

Once upon a time, the idea of a luxury SUV meant a Range Rover, and even that was pretty agricultural by modern standards. Then Jeep Grand Cherokees and Ford Explorers started offering fancy, range-topping versions followed soon by Lexus, BMW and Mercedes dipping their toes in the water. And then the floodgates opened. Today, there is a staggering number of luxury SUVs available in every shape, size and price point. There are electric luxury SUVs like the Tesla Model X and Jaguar I-Pace, as well as gas-swilling, high-performance SUVs like the BMW X5 M and Cadillac Escalade V. Sports car makers Porsche, Aston Martin and Lamborghini have even dived in.  But of this great many, which are the best luxury SUVs? We sat down, scoured our reviews, took some votes, had some discussions and came up with the luxury SUVs we view as the best. They are listed alphabetically within the six segments listed below.  Best Subcompact Luxury SUV   |   Best Compact Luxury SUV   |   Best Midsize Luxury SUV (Two-Row) Best Midsize Luxury SUV (Three-Row)   |   Best Flagship Luxury SUV (Two-Row)   |   Best Flagship Luxury SUV (Three-Row)  Best subcompact luxury SUVs Mercedes-Benz GLB-Class Why it stands out: Outstanding space and versatility; legit luxury interior; amusing GLB 35 versionCould be better: Overwhelming and confusing tech interface Most subcompact luxury SUVs are a dubious value, with cramped interiors of marginal quality and unrefined driving dynamics. You'd be much better off paying less money for a loaded, non-luxury compact SUV. The Mercedes GLB is different, though. Its boxy design provides space few other subcompact SUV can match (luxury or otherwise), while its cabin design and feature content are in keeping with pricier Mercedes models. The quality's not exactly up to GLC standards, nor is driving refinement, but the difference is appropriate for how much you're saving and still perfectly acceptable. There's nothing dubious about buying a GLB.     Volvo XC40 Why it stands out: More features for the money; spacious and versatile interior; distinctive design; electric versionCould be better: Fuel-efficient base engine only available with FWD Most subcompact luxury models feel a bit like cheap knockoffs of their bigger, pricier brand mates. The XC40, by contrast, is a break from the Volvo norm in a good way.