1999 Volvo C70 Convertible 4 Cyl Turbo Automatic Transmission on 2040-cars

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Volvo bringing Chinese-built cars to America beginning next year

Just because the penetration of the American automotive market by Chinese brands hasn't quite happened yet doesn't mean that Chinese-built cars are far off. According to a new report, we could very soon see long-wheelbase Volvo S60s that were assembled in the People's Republic arriving on US shores.
The report comes from Automotive News China, which cites an anonymous Volvo exec. An official Volvo spokesperson later corroborated ANC's report, although where the original source claimed that we could see the Chinese-built S60L in US dealers at some point in 2015, the company line was that a timeline hadn't been established to begin exports from the world's most populous nation.
According to Volvo, the benefit to exporting from China to the United States rather than from Sweden is the relationship between the US dollar and the Chinese yuan. Overall, it's a less tumultuous issue than the dollar-to-euro situation. By moving vehicles from China to the US, the Chinese-owned company is limiting the degree of risk it's taking with sudden currency swings.

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.

2025 Volvo EX30 revealed: quick, cute EV at $36K

MILAN — The Volvo EX30 seems like a relatively straightforward EV. But dig a little deeper and you'll find this electric crossover is kind of a big deal. Making its debut in Milan, Italy, on Wednesday, the 2025 EX30 is Volvo's smallest SUV, yet it's also the company's quickest production car ever — by a long shot. Priced from $36,145 including an $1,195 destination charge, the EX30 will be the least expensive model in Volvo's U.S. lineup when it arrives next year. It'll even spawn Volvo's first fully electric Cross Country offering, which we can't wait to see. The EX30's styling cues are pulled straight from the larger EX90 electric SUV, giving it a tough-li'l-guy vibe that's both cute and purposeful. I love the pronounced wheel arches and the two-tone look. You can totally see how, with more ground clearance and some cladding, this EV will easily morph into the EX30 Cross Country that's coming next year. At 166.7 inches long, 72.3 inches wide and 61.1 inches tall, the EX30 is seriously small — about the same size as a Hyundai Kona — giving it a healthy amount of daylight from Volvo's larger, more expensive XC40 Recharge. The upright dimensions will no doubt help with headroom for front and rear passengers, and Volvo says there's 31.9 cubic feet of cargo space, which is good but not great for this class. Step inside the EX30 and the first thing you'll notice is that the SUV's digital real estate is limited to a single central screen, powered by Google software. Absolutely everything looks to be buried in the screen — except for things like the wiper controls, thank goodness — but I'm hopeful that Volvo learned from Tesla's mistakes and keeps the control layout relatively simple. There seems to be a fixed row of climate control icons along the bottom of the vertical display, at least. Five different ambient lighting themes will be offered, which shift in color, "adding a sense of calm," according to Volvo. In typical Scandinavian fashion, the EX30's cabin is super handsome, crafted with sustainable materials that look and feel premium. When it arrives in the U.S., the EX30 will be offered with two powertrain options, both of which rely on a 69-kilowatt-hour cobalt-lithium-manganese-nickel composite battery, 64 kWh of which is usable. The base model, called Single Motor Extended Range, will have a rear-wheel-drive layout and produce 268 horsepower and 253 pound-feet of torque. Volvo expects this version to have a range of 275 miles on the U.S.