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Geely wants to be a tech-sharing 'friend' of Daimler in $9B bet

Chinese carmaker Geely has built up an almost 10-percent stake in Daimler in a $9 billion bet by its chairman that he can access the Mercedes-Benz owner's technology in the growing battle for the future of automotives. The purchase by Li Shufu, Geely's founder and main owner, means China's largest privately-owned automaker is now the biggest shareholder in Germany's Daimler. Geely said on Saturday there were no plans "for the time being" to raise the stake further. Instead, it will seek to forge an alliance with Daimler, which is developing electric and self-driving vehicles, to respond to the challenge from new competitors such as Tesla, Google and Uber. "No current car industry player is likely to win this battle against the invaders from outside without friends. To achieve and assert technological leadership, one has to adapt a new way of thinking in terms of sharing and combining strength. My investment in Daimler reflects this vision," Li said. "Daimler is pleased to announce that with Li Shufu it could win another long-term orientated shareholder, which is convinced by Daimler's innovation strength, strategy and future potential," the German company said in a statement. Geely officials plan to travel to Stuttgart to meet Daimler executives early next week and also hope to meet top German government officials in Berlin, two sources familiar with the matter told Reuters. The Chinese firm plans to use the meetings to underline that it intends to be a supportive long-term investor, they said. Daimler had no immediate comment on any meetings. Geely and the German economy ministry declined to comment. Chinese investors in German technology companies have tended to take a consensual approach, buying incremental stakes in companies such as robotics firms Kuka and Kion, typically after long consultation with management and other stakeholders. In November, Geely asked Daimler to issue new shares so it could buy a stake, as a way to access Mercedes-Benz technology for electric cars and trucks, including battery technology, to help Geely comply with a Chinese crackdown on pollution. But the German company turned down the offer saying it did not want to dilute existing shareholders, sources at the time told Reuters. Li changed tactics, and quietly amassed a stake of 9.69 percent worth $9 billion at Daimler's current share price.

2021 Volvo V90 T6 Road Test | The best-kept secret

Against all odds and sales sense, the 2021 Volvo V90 is still kicking and available to order in the United States. Not only that, but Volvo gave it a mini mid-cycle update this year, altering the styling and adding more tech. It’s still disappointing that Volvo doesnÂ’t keep any V90s in stock at dealers, but it looks like the best way to sell a wagon in this country is to make it order-only like the Mercedes-AMG E 63 S or Audi RS6 Avant. Well, that, or lift it and apply body cladding as in the case of the V90's Cross Country sibling. Dealers do carry those. However, youÂ’ll be glad that you took the time to special order the non-lifted, uncladded V90. It's a design masterpiece; a full-size family vehicle that forces you to look back at it every time you walk away. Volvo hasnÂ’t struck out with a single design over the past few years, and this V90 is surely the brandÂ’s crowning achievement. Proportions, stance, lighting and wheels; all of it is pleasing to the eye. The hugely useful cargo area and big back seat just raise the bar even higher. That a vehicle can be as practical as this one is, handle like a car and still look this good just makes it even more appealing. This Volvo goes from point A to point B like a member of the Swedish royal family sweeping across a crowded ballroom centuries ago. Poised and elegant, the V90 silently wafts down the road riding on a pillowy air suspension. ThereÂ’s no rush. Curious eyes turn to catch a glimpse of something they rarely see. Yet the V90 never demands anybody take notice with extravagant creases or a gaudy grille. It just exists in this glamorous state of purist wagon nirvana. Simplicity tends to breed the most appealing car designs, but labeling the V90 as simplistic would be a misnomer. This Inscription trim V90 is adorned with just the right amount of shiny chrome, highlighting the sharp styling and drawing the eye downward. VolvoÂ’s updates serve to smooth out the front and rear fascias even further, going so far as to delete the rear exhaust outlet in the bumper in favor of an invisible under-car exit. It suits the wagonÂ’s attitude and also serves to prepare our eyes for an electric future. A new and much more intricate rear LED taillight design animates a friendly “hello” from bottom-to-top at the press of the unlock button, or top-to-bottom for “goodbye.” The new 20-inch wheel design completes the picture with a striking bright and dark two-tone finish.

Volvo's oldest model earns IIHS Top Safety Pick+ award [w/video]

Volvo ought to be tooting its horn over this one. The XC90, an SUV that has essentially been on sale for over 10 years, just captured a Top Safety Pick+ award from the Insurance Institute for Highway Safety. The TSP+ is a new title, reserved for cars that earn "Good" or "Acceptable" ratings on each IIHS crash test.
This is a difficult feat for a new car - Toyota's new Corolla infamously failed to net a Top Safety Pick+ earlier this year - largely because of the new small overlap front tests, which have left many automakers struggling. But Volvo, somehow, was able to conquer the tests with a car that predates the original iPhone by a few years. The XC90 earning a Top Safety Pick+ is like Betty White taking the gold in the decathlon. With Volvo in the midst of working on the XC90's replacement, we're curious to see just how well a more modern version does in crash testing. Take a look down below for the crash test video and a press release from IIHS.