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Volvo shows off 345-hp S60 and V60 Polestar

We showed you the hot, new Volvo V60 Polestar a few months back and raved about the fact that this long-roofed family car can hit 60 miles per hour in just 4.9 seconds. Now, we're seeing it and its four-doored brother, the S60 Polestar sedan, in person for the first time.
As we told you when the V60 Polestar was unveiled, both cars are motivated by a 3.0-liter, turbocharged six-cylinder that generates 345 horsepower and 369 pound-feet of torque, with peak twist arriving between 2,800 and 4,750. Power is channeled to a rear-biased all-wheel-drive system via a six-speed automatic transmission with paddle shifters and launch control.
Both Polestar models benefit from a suspension that features Öhlins shocks, while they ride on 20-inch "bespoke" wheels. Six-cylinder Brembo calipers clamp down on 14.6-inch rotors in front, meaning these Volvos should come to a stop as quickly as they get going.

Volvo Cars plans $20 billion stock IPO this month, sources say

STOCKHOLM — China's Geely Holding is in advanced discussions with banks to list its Volvo Cars unit in the coming weeks, three sources told Reuters, in what is expected to be one of Europe's biggest initial public offerings (IPOs) this year. Volvo Cars is aiming for a valuation of about $20 billion in the planned Stockholm listing, the sources said, with one saying the launch was penciled in for the end of September. Goldman Sachs and SEB are leading the transaction, while other banks including BNP Paribas, Carnegie and HSBC are also involved in the deal, the sources added. Volvo Cars declined to comment. Geely did not immediately respond to an emailed request for comment outside normal business hours in China. SEB and Goldman Sachs declined to comment. The other banks were not immediately available. Geely, which bought Volvo from Ford more than a decade ago in the biggest acquisition by a Chinese firm of a foreign car maker, sought to float shares in the Swedish firm in 2018 but then pulled the deal citing trade tensions and a downturn in automotive stocks. Traditional carmakers have fallen out of favor in recent years, as Tesla has risen to be one of the world's most valuable companies, putting the focus on electric vehicles. Many European firms have pivoted toward the electric sector, including Volvo, which aims to only make fully electric cars by 2030 and owns a 49.5% stake in electric car maker Polestar. Valuation Gothenburg-based Volvo Cars aims to secure a valuation of roughly $20 billion, one of the sources said, while another mentioned a possible range of $20 billion to $30 billion. A third source suggested a $16 billion valuation was more realistic, citing the firm's revenue outlook. A $20 billion valuation for Volvo would be equivalent to six to seven times its earnings, a level some analysts say is high although it would put it in line with rivals Daimler and BMW. Tesla's valuation is more than 70 times that. NordLB's automotive analyst Frank Schwope estimated a valuation range of $10 billion to $15 billion. "The strong margins seen in the first half of 2021 are unlikely sustainable as the market benefited from a strong post-pandemic rebound that is unlikely to continue," Schwope said. For Geely's founder Li Shufu, who bought Volvo for $1.8 billion, the listing is a milestone on the road to transport of the future, where cars are part of an electrified network of mobility services generating data and business opportunities.

2025 Volvo EX90 enters production after being delayed last year

After a delay of about eight months, Volvo's Ridgeville, South Carolina plant is now assembling the EX90 battery-electric SUV. Volvo's original plan was to get its new flagship in production toward the end of 2023 so that dealers might have models in showrooms early this year. There's also the reservation list, which filled so quickly that Volvo shut it down sooner than anticipated. However, after the car's November 2022 reveal, Volvo engineers confronted unexpected complexities with its software stack. In May 2023, the automaker officially delayed the start of production until the first half of this year. Part of the complexity was the brain in Volvo's EV push, the new VolvoCars.OS software platform running on a new "core computing" system developed with Nvidia and using the tech company's Drive Orin chips — the same chips Rivian uses for its new, streamlined electrical architecture in the Gen 2 R1 models. In Volvo's words, the core computing system "is made up of three main computers. These support each other in operating vision processing and artificial intelligence, general computing and infotainment respectively," this fundamental change in vehicle brain layout allowing the automaker "to gradually separate hardware from software. This means the company can introduce more frequent hardware cycles, so that new Volvo models can be equipped with the latest available hardware." Rowan said he believes the delay will ease the path for what's coming; the code written for the EX90 will see use elsewhere in the lineup, what the coders learning during this hiccup serving the automaker all the way through to an eventual transition to the Global Product Architecture that will succeed the EX90's SPA2 architecture. Back to the South Carolina plant, the first customer car off the line, done up in Denim Blue, will be delivered later this year. The plant's got more good news as well from the other vehicle it builds, the S60 sedan, with year-to-date sales up 255% compared to 2023. Related video: 2024 Volvo EX90 exterior and interior walkaround review