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Automakers suspend some business in Russia following invasion

These Russian GAZ Tigr infantry mobility vehicles were destroyed by Ukrainian fighters in Kharkiv on Monday. (Getty Images)   Global auto and truck makers, including Sweden's Volvo Cars and Germany's Daimler Truck, on Monday suspended some business in Russia following that country's invasion of Ukraine. Russian forces invaded Ukraine last week, marking the biggest attack by one state against another in Europe since World War II. Many firms have idled operations in Russia following Western sanctions against Russia. Energy giant BP Plc, Russia's biggest foreign investor, abruptly announced over the weekend it was abandoning its 20% stake in state-controlled Rosneft at a cost of up to $25 billion. On Monday, Swedish automaker Volvo Cars said it would suspend car shipments to the Russian market until further notice, becoming the first international automaker to do so as sanctions over the invasion continue to bite. In a statement, the company said it had made the decision because of "potential risks associated with trading material with Russia, including the sanctions imposed by the EU and US." "Volvo Cars will not deliver any cars to the Russian market until further notice," it said. A Volvo spokesman said the carmaker exports vehicles to Russia from plants in Sweden, China and the United States. This came as Russia warned Sweden and Finland not to join NATO or risk facing “serious military-political consequences." Volvo sold around 9,000 cars in Russia in 2021, based on industry data. Earlier on Monday, RIA news agency reported Volkswagen had temporarily suspended deliveries of cars already in Russia to local dealerships, citing a company statement. VW had no immediate comment when contacted by Reuters. VW previously said it would halt production for a few days this week at two German factories after a delay in getting parts made in Ukraine. Daimler Truck said on Monday it would freeze its business activities in Russia with immediate effect, including its cooperation with Russian truck maker Kamaz. Mercedes-Benz Group is also looking into legal options to divest its 15% stake in Kamaz as quickly as possible, the Handelsblatt newspaper reported. A Mercedes spokesperson told Reuters business activities would have to be re-evaluated in light of the current events. Mercedes-Benz Group, formerly Daimler AG, was the parent company of Daimler Truck before the truck maker was spun off.

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 agrees to transfer tech to new parent Geely

Following the acquisition of Volvo by China's Zhejiang Geely Holding Group in 2010, we definitely saw this news coming. The two companies have signed an agreement that will give Chinese automaker Geely access to key technologies developed by Volvo, and in turn, the deal could help the Swedish automaker lower its production costs.
As a part of the "technological cooperation agreements" signed by both companies, Automotive News China reports that Geely will be able to tap Volvo for three much-needed technologies, including the use of a midsize platform, Volvo's proven safety innovations and interior air quality systems. The latter two technologies are important to improve the crashworthiness of Geely's cars, along with helping isolate vehicle occupants from China's often severe air pollution. The report says that Volvo tech will likely be used on a premium car brand that Geely is expected to create.
Volvo, on the other hand, is to benefit from the "local market exploration experience and cost control experience" of Zhejiang Geely Holding Group, which is technical way of saying that Volvo will be able reduce its costs by tapping into Geely's established supply chain.