2008 Volvo Xc90 3.2 on 2040-cars

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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.

First production Volvo S60 Polestar shown off

With the Volvo S60 Polestar going on sale in Australia this June, Volvo has finally released images and specs for the production version of the performance sedan. While no official build number has been announced, one image of the car's steering wheel shows a serial number plaque that says "No. 000/100" indicating that production will likely be limited to just 100 units in Australia. The press release states that the Australia run of Polestar-tuned S60s is a "pilot project" and that other potential markets are "under investigation."
Although it looks very similar to the S60 Polestar Concept we first saw at the LA Auto Show last year, the production version of the car sports a few changes. Visually, the front and rear fascias have been slightly modified from the concept car, as have the matte-black wheels. Inside, we see a different steering wheel that adds the aforementioned build sequence plaque but loses the suede leather accents, and there is also a sportier looking shift lever with a chrome handle that features a Polestar logo.
As for performance figures, rather than the 508-horsepower of the S60 Polestar Concept, the production version will be limited to 350 hp and more than 368 pound-feet of torque, which is still an improvement of about 25 hp and at least 14 lb-ft over a 2013 S60 R-Design. Polestar also tuned the six-speed automatic transmission and Haldex all-wheel-drive system for optimal performance leading to a top speed of 155 miles per hour and a 0-62 mph time of 4.9 seconds. The production S60 Polestar will still get suspension, brake and aerodynamic upgrades.

5 thoughts about the 2024 Volvo C40 Recharge

BIRMINGHAM, Mich. -- The Volvo C40 Recharge is a quirky yet elegant little hatch with a lot to talk about. Along with the XC40, it’s the first rear-wheel-drive Volvo since the 1990s. The cabin blends Google power with Scandinavian simplicity. I think the C40 looks like an early crossover from the ‘80s. So yes, I have thoughts. Five of them. The design reminds me of the AMC Eagle Stay with me here. Am I the only one who thinks this looks like an AMC Eagle? ItÂ’s the big wheels — these diamond-cut silver and black rollers measure 20 inches — and the silhouette. A slightly lifted hatchback is a crossover these days, but it shares some of the quirkiness and car-like quality of the Eagle, which could be considered an early crossover. Tenuous design connections aside, the slab front end, LED headlights and prominent Volvo emblem conjure the requisite premium feel. It does look the part of an EV, which is a natural vibe for Volvos in general. They exude quirky sophistication layered over Scandinavian minimalism and sensibility. Not your flavor of vodka? You may have heard the Dodge Charger is now an electric vehicle. I had an odd charging experience With a few minutes to kill on a Saturday morning, I pulled into a ChargePoint station to try to grab some bonus miles. I didnÂ’t have much time, but the ChargePoint chargers were literally across the street from where I was going. Might as well be plugged into one if IÂ’m going to sit in the parking lot, drink coffee and read Autoblog on my phone. Alas, the driver screen read “initializing charging” but never consummated the charge. I unplugged and re-plugged. No dice. ChargePoint charged me $2 for the pleasure of hooking up my car and not charging for five minutes. Like I said, I was just killing time and didnÂ’t absolutely need the juice, so away I went. I try to make a point of charging EVs on public infrastructure for each test car, and the results are uneven. This C40 had been recently charged, so I tend to think it was just a ‘bad handshakeÂ’ between the car and the charger, which seems to be common for EV owners. I suppose it could have been user error, too. In these situations thereÂ’s a tendency to assign blame. IÂ’m not. IÂ’m just saying it didnÂ’t work. ItÂ’s a fun little thing to drive The single, rear-mounted motor delivers 248 horsepower and 310 pound-feet of torque.