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Volvo Cars reports theft of R&D data by hackers

STOCKHOLM — Volvo Cars said on Friday it had launched an investigation into a cyber security breach and the theft of some research and development data that could impact the company's operation. A spokesperson for the firm, majority owned by China's Geely Holding, said it had been approached by a third party, but declined to give any further details. "Investigations so far confirm that a limited amount of the company's R&D property has been stolen during the intrusion," the Swedish carmaker said in a statement. It added that "there may be an impact on the company's operation," without specifying what that might be. It said it did not see an impact on the security of its customers' cars or their personal data. The Gothenburg-based company said it had implemented security countermeasures to prevent further access to its property, while notifying relevant authorities. "Volvo Cars is conducting its own investigation and working with a third-party specialist to investigate the property theft," it said. Shares in Volvo Cars, whose IPO on Oct. 29 was the biggest in Europe this year, were down 3.2% at 1555 GMT.  

Volvo teases refreshed XC90, EX90 updates and 'a surprise or two'

Volvo will show the world the updated XC90 crossover on what the company is calling "90/90" day, which to the rest of us is simply September 4th. The day will also "mark a big moment in the launch of the EX90," which accounts for the second "90." But what's far more interesting was the cryptic teaser Volvo tacked onto the end of its announcement, suggesting that "there might be a surprise or two …" in store for us too. Well, then.  The announcement was accompanied by an equally cryptic teaser image that appears to depict the hoods of the EX90 (top/right) and XC90 (bottom/left). There's not much to see here apart from the differentiating hood creases and some details in the headlights. From what we can make out, the updated XC90 will have a different take on the "Thor's Hammer" LED signature. Anything else is merely speculation. While Volvo hasn't officially put a sunset date on the XC90, we expect this will be the last major update before it is put out to pasture in favor of its all-electric sibling. The writing has been on the wall since Volvo originally unveiled the EX90 in 2022.  As for Volvo's surprises? We're not really sure what to expect. With the EX30 launch dragging on much longer than expected, Volvo is unlikely to be in a position to announce any major new product introductions for the U.S. market. We can't rule out the possibility of some Polestar Engineered variants of existing models; Volvo has already demonstrated a willingness to offer them on crossovers, so why stop now? In any event, we've only about a week to wait. Plus, you'll be able to watch the whole thing live on Volvo's 90/90 Day microsite. 

Volvo will replace C70... eventually

Volvo has already announced the end of production for its C70 hardtop convertible, a handsome but seriously dated offering that was last refreshed in 2010. Volvo won't be abandoning the two-door coupe-convertible market for long, though, as news out of Australia claims that a replacement, based on the striking Concept Coupe, will join the Chinese-owned, Swedish brand's ranks, although it's unclear precisely when we'll see it on the road.
"Eventually yes... as soon as possible," Hakan Samuelsson, Volvo's CEO, told the Drive, before adding, "when we are ready."
"The Coupe Concept car, we can put that into production and it will have an exposure on the brand. But at the end it's the cream on the cake and at the end you need the cake first before you put the cream on it," said Volvo's Senior Vice President of Product Strategy and Vehicle Line Management, Lex Kerssemakers.