2005 Volvo Xc90 2.5t Sport Utility 4-door 2.5l on 2040-cars

Auto blog

Daimler rebuffs Geely offer to buy stake

HONG KONG/BEIJING - Daimler AG has turned down an offer from China's Geely to take a stake of up to 5 percent via a discounted share placement, as the German automaker has long been reluctant to see existing shareholdings diluted, sources with knowledge of the talks said. A stake of that size would be worth $4.5 billion at current market prices. Although Daimler declined the offer, it told Geely it was welcome to buy shares in the open market, the sources added. Carmakers in China have embarked on a flurry of dealmaking, as they scramble to boost production of electric and plug-in hybrid vehicles ahead of tough new quotas to be imposed by Beijing, which wants to reduce urban smog and lower the country's reliance on oil. People with knowledge of Geely's thinking said the company was keen to access Daimler's electric car battery technology and wanted to establish an electric car joint venture in Wuhan, the capital of Hubei province. Geely, which also owns Swedish car maker Volvo, is still hopeful it can secure a deal in some form over the coming weeks, they added. The two automakers met in Beijing in recent weeks at Geely's behest. There, the Chinese firm, formally known as Zhejiang Geely Holding Group, offered to take a stake of between 3 percent and 5 percent if Daimler would issue new shares at a discount, the sources said. It was not immediately clear what kind of discount for the shares Geely had in mind or whether Geely was interested in buying the shares on the open market. A spokesman for Geely declined to comment. A spokesman for Daimler said the company was "very happy with our shareholder structure at present", but added that it would welcome new investors with a long-term interest in the company. Shares in Daimler were up 1 percent in early Wednesday trade, in line with the broader market.DAIMLER ALREADY TIED TO BAIC, BYD Geely, which has a market value of some $32 billion, is the leading domestic brand in China with a 5 percent market share, according to an analysis by Nomura Securities. A stake of 5 percent would establish it as Daimler's third-largest shareholder behind the Kuwait Investment Authority and BlackRock, who hold 6.8 percent and 6 percent respectively, according to Reuters data.

Volvo EX30 endures a side impact crash test with an EX90

Before Volvo launched the EX90, the Swedish automaker — already known as a pioneer in safety — repeatedly stressed how much work it had done to raise the bar for safety in its new electric SUV. Almost every new release included lines like, "The standard safety in the Volvo EX90 is also higher than any Volvo car before it," and "The Volvo EX90 has an invisible shield of safety enabled by our latest sensing technology, inside and outside." But these focused on the car's electronic suite of sensors and cameras watching everything from the road ahead and behind to the driver's state of fatigue. The company did the same during the launch of the EX30, writing that its new compact electric vehicle protects all occupants "through state-of-the-art restraint technology, as well as top-notch structural design that fulfills our ambitious in-house safety requirements — designed to prepare our cars for various real-world scenarios." To prove a point about the safety of the EX30, Volvo's in-house crash-test lab performed a side impact test, running its largest car, the EX90, into the side of its smallest, the EX30.  We don't get to see any interior view of the EX30 during the test or afterward. In an Automotive News Europe video about the crash and the results, Lotta Jakobsson from the Volvo Cars Safety Center says the data showed that the two "small-sized females" sitting on the struck side "were well protected" in the crash, with minimal infliction of injury. The physical design of both cars helps make this happen. The EX30 was designed to disperse all of its forces around the structure of the car for "balanced interaction" during an event. That's pretty standard stuff. On the EX90, a piece of the lower front structure juts ahead of the vehicle's primary safety structure. As ANE Managing Editor Doug Bolduc puts it, that lower structure is "specifically designed to help it absorb a lot of the power of a crash with a smaller vehicle ... that is to not only provide protection to the passengers of the EX90 but also to provide protection to the passengers of the EX30." The result is "less damage than you might have expected from the larger car onto the smaller car."  Check out the vid and for Jakobsson's take on how current trends in structural, passive, and active safety won't rid the world of crashes, but they are reducing injuries while at the same time making crashes less common.

AB Volvo lands a big order for electric commercial trucks

STOCKHOLM — Volvo Trucks has received an order for 100 electric trucks from shipping firm DFDS, its biggest commercial electric truck order to date, the Swedish truck maker said on Wednesday. Volvo Trucks, AB Volvo's main truck brand, said the order was one of the largest ever for heavy electric trucks worldwide, adding that deliveries would start in the fourth quarter of 2022. The FM Electric trucks, which have a range of up to 300 kilometers (186 miles), will be used for both short and long transport in Europe. Volvo, which started serial production of electric trucks in 2019, is targeting for half of its global truck deliveries to be electric in 2030. "We are pleased to see that growing interest among our customers is starting to be reflected in firm orders," Volvo Trucks President Roger Alm said in a statement. A 'green' shift in the transport sector, which generates roughly a quarter of global carbon dioxide emissions, is widely seen as important to help align with global climate goals.   Green Volvo Truck Commercial Vehicles Electric