Lovely Fixer Upper Vintage 91 Volvo 740 Wagon Navy Leather Sunroof on 2040-cars

Auto blog

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.

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.

Volvo releases extensive model updates for 2014

The 2014 model year is going to see big changes for the Volvo lineup. The biggest news is that the "60 cluster" models (the S60, V60 and XC60) are receiving some substantial updates despite not being all that old, and Volvo is also refreshing the S80, V70 and XC70 models. Of course, the 2014 model year also marks the departure of the C30 and C70 from its lineup, and we still have at least a year to wait until we see the redesigned XC90.
Except for the XC90, all of the 2014 Volvos will be getting noticeable design updates. The S60, V60 and XC60 get more in-depth changes, including a full front facelift. All will use an evolution of the "naughty" design that debuted on the S60. The rear of all three cars get some changes, too, most notably consisting of the reshaped rear fascia with the integrated exhaust outlets. S80, V70 and XC70 will get more minor changes - mostly to bring them in line with the fresher models. The XC70 keeps is rugged plastic cladding, but it gets some stylish wheels with what look like arrowhead accents.
Inside, all of these updated models will new in-car technology such as the Sensus Connected Touch infotainment system and the adaptive digital display with a TFT (thin film transistor) screen. This reconfigurable screen allows the driver to choose between three different themes - Elegance, Eco and Performance - which changes the color and layout of the background. Other new features include heated windshields, Active High Beam Control for the headlights, paddle shifters for a little added driver involvement and IntelliSafe active safety systems (City Safety, Pedestrian Detection and Road Sign Information) The S80, V70 and XC70 will also add heated steering wheels to their respective options sheets, too.