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Volvo aiming for a stock IPO by the end of 2021

Volvo Cars is "making good progress" toward a potential initial public offering by the end of this year, the chief executive of the Swedish premium auto brand told Reuters on Wednesday. "We are looking at the possibility of doing an IPO before the end of the year," listing shares on the Nasdaq Stockholm exchange, company CEO Hakan Samuelsson said in an interview. Samuelsson and other Volvo executives on Wednesday laid out an extensive road map to becoming a fully electric car maker by 2030, including plans to sell 600,000 battery electric vehicles at mid-decade and build a European battery gigafactory in 2026. Volvo earlier this year scrapped a proposed merger with the company's Chinese parent, Hong Kong-listed Geely Automobile. In March, Geely said Volvo would explore capital market options, including an initial public offering and stock market listing. Many startups have gone public in the United States and China over the past two years, following electric vehicle market leader Tesla Inc in taking advantage of investor enthusiasm to raise cheap capital to compete with established brands such as Volvo. Samuelsson said Volvo and Geely will continue to share vehicle architectures, internal combustion powertrains and other components. But the companies will do so at "an arm's length distance," consistent with the way independent companies do business, he said. During Wednesday's briefing, Volvo also said it plans to equip many of its future vehicles with self-driving technology, including standard lidar sensors from Luminar Technologies Inc and computers from Nvidia Corp. "Our goal is to build the safest cars possible, using all available technology," Samuelsson said. As it launches new electric vehicles, Volvo also plans a slew of related products, including insurance and vehicle subscription payment plans offered directly by the automaker, Samuelsson said. "The whole vehicle business will be recurring revenue," Samuelsson said. In Europe, the company plans to change its retail operations so that customers order new electric vehicles directly from the manufacturer, with dealers paid commissions to deliver them, Samuelsson said. In the United States, where laws protect existing dealers, Volvo will still sell vehicles through franchised retailers. For its future electric vehicles, Volvo is working with Swedish partner Northvolt on a new generation of batteries with higher energy and designed to be packaged as a structural element of the vehicle.

Volvo opens order books for XC90 First Edition

The new Volvo XC90 breaks new ground in any number of ways. It's based on a new modular platform, packs new engines, introduces a new design language and incorporates a whole slew of new safety systems. Even in its sales approach, it takes Volvo into new territory.
In what Volvo calls an industry first, the first 1,927 examples of the new XC90 will be sold online. Those First Edition models, whose production numbers honor the year of the company's founding, will come fully equipped in T6 AWD guise with the twin-charged (but not hybrid) 316-horsepower engine, air suspension, Bowers & Wilkins audio system and 21-inch Inscription alloys, decked out in black with a tan Nappa leather interior, all for $65,900.
As you can see from the online store, ordering has officially begun. Get one while they're hot.

Volvo XC40 and C40 electrics get new motors, more horsepower, longer range

Late last year came reports of improved versions of the Volvo XC40 Recharge and C40 Recharge for Europe. Configurators over the Atlantic showed there wouldn't just be new rear-wheel-drive models, but more battery, more range, and faster charging. The Swedes have finally published the official list of updates, the tweaks even better than the reportage and websites showed. First, the rumors are true, Volvo is back in the rear-driver game after 25 years on the sidelines. The automaker took the previous e-motors off the front axle, putting its in-house-developed, more powerful, and more efficient e-motor on the rear axle. This first use of the new e-motors bumps output from 228 horsepower to 235 horsepower in the RWD trims when combined with the 60-kWh standard range battery. That, plus cooling improvements for the pack, means the XC40 Recharge's range jumps from 425 kilometers on the WLTP cycle to 460 km (285 miles), the C40 Recharge's range going from 438 km to 476 km (296 miles). Plugged into a charger capable of at least 130 kW, refilling from 10% to 80% takes about 34 minutes.  We specified "standard range battery" because another new treat is a second RWD trim: Volvo will plug its 82-kWh battery into the powertrain for those willing to pay. But wait, there's more: The big pack powers an even juicier e-motor making 248 hp. The added gumption boosts range in the XC40 Recharge to 515 km (320 miles), in the C40 Recharge to 533 km (331 miles). And again, improved cooling permits uprated charging speed of 200 kW, cutting the run from 10% to 80% SOC to approximately 28 minutes. Dual-motor variants make the change to asymmetric output as revealed before, giving up two 201-hp e-motors for a new 156-hp motor on the front axle and that in-house 248 hp motor on the rear. In conjunction with better cooling, the XC40 Recharge Twin Motor climbs to 500 km (311 miles) of range on a charge, a 62-km hike, the C40 Recharge Twin Motor to 507 km (315 miles), a 56-km enhancement.  Marginal gains also come from a set of more aerodynamic 19-inch wheels.  The updated twin-motor siblings are expected to enter production in May, the single-motor versions in the fall. We only get the Twin Motor models here. If our variants reflected the same range extensions as in Europe, the 14% rise for the XC40 Recharge would give our car a 255-mile range, the C40 a 12% boost to 254 miles of range.