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Editors’ Picks February 2023 | Audi RS 3, electric G80 and a longtime favorite

In this month’s set of EditorsÂ’ Picks, we see a wide variety of vehicles earn our recommended status. The Audi RS 3 is a truly stellar sedan with a killer engine, great handling and still enough comfort for daily use. Genesis finds its way onto the list again with its electric version of the G80 midsize sedan, and VolvoÂ’s XC90 still charms after all these years. In case you missed our previous Editors' Picks posts, hereÂ’s a quick refresher on whatÂ’s going on here. We rate all the new cars we drive with a 1-10 score. Cars that are exemplary in their respective segments get an EditorsÂ’ Pick designation. Those are the ones weÂ’d recommend to our friends, family and anybody whoÂ’s curious and asks the question. The list that youÂ’ll find below consists of every car we rated in January that earned an EditorsÂ’ Pick. 2023 Audi RS 3 Quick take: The Audi RS 3 keeps the passion alive with a superb sounding 5-cylinder engine and a torque-vectoring rear differential that massively ups the handling fun. Its interior is a little bland, but it's still a handsome Audi on the outside. Score: 8.0 What it competes with: Mercedes-AMG CLA 45, BMW M240i, Cadillac CT4-V Blackwing, VW Golf R Pros: Epic engine sound, fun AWD system, great handling and acceleration, attractive exterior styling Cons: Interior doesn't pop, expensive for its size From the editors: Road Test Editor Zac Palmer — "If you love a special engine, the Audi RS 3 is a car for you. Few powertrains sound and feel as special as the 5-cylinder engine in the RS 3, and the ferocity with which it accelerates will have you laughing your head off with every pull. The sheer performance out of this little machine is extraordinary, and I'd recommend it to anybody shopping for a small, luxury sports car daily. All that said, I wish Audi could've sorted out better steering and a suitable interior. As-is, both of those factors are negatives in a car that is almost all upside." In-depth analysis: 2023 Audi RS 3 First Drive Review: To hell with business cases   2023 Volvo XC90 2022 Volvo XC90 Recharge View 15 Photos Quick take: The XC90 may be old now, but key updates and a timeless design ensure it's competitive as ever. The Scandinavian interior design appeal has never faded, and now the Google-based infotainment system is fresh and snappy. Even the Recharge PHEV is an awesome alternative with great range and strong electric motor.

Volvo's $2.9 billion stock IPO is a key test in shift to EVs

Volvo Car AB is looking to raise 25 billion kronor ($2.9 billion) in a Stockholm initial public offering in a test for automakers amid the transition to electric vehicles. The Swedish carmaker, owned by China’s Zhejiang Geely Holding Group Co., is offering shares at 53 kronor to 68 kronor each (about $6-$8), according to a statement Monday.  The deal values Volvo Cars at as much as $23 billion, 11 years after the Chinese firm bought the business from Ford Motor Co. for $1.8 billion. The IPO is set to be EuropeÂ’s largest since January, according to data compiled by Bloomberg. The carmaker, with an ambitious plan to only sell full electric cars by 2030, plans to use the funds to add carmaking capacity so it can nearly double annual sales to more than 1.2 million vehicles. Volvo Cars also plans to construct a battery plant in Europe. “We have a very clear strategy to be an electric company in 2030 and weÂ’ve been on that journey for some years now,” Volvo Cars CEO Hakan Samuelsson said in an interview. “With this, of course, we can secure that transformation, because of course, itÂ’s not free of charge.” VolvoÂ’s projected market capitalization of about $20 billion compares to roughly $65 billion for BMW AG, while the German premium carmaker produces more than 2 million vehicles versus Volvo CarsÂ’ 660,000 last year. Newer entrants to the industry such as ChinaÂ’s Nio Inc. and Tesla Inc. have seen their share prices surge past traditional manufacturers even as they sell only a fraction of the number of vehicles. The IPO also comes less than a month after electric-vehicle maker Polestar, controlled by Volvo Cars and Geely, said it will go public in New York via a blank-check merger. The deal implies an enterprise value of $20 billion for the startup, with Volvo Cars expecting to hold a 50% stake in Polestar after it lists. While the century-old Swedish industry stalwart and Polestar have similar valuations, 4-year-old Polestar has a target of delivering only about 29,000 cars this year. Geely previously attempted to take Volvo Cars public in 2018, but called off the listing after investors were said to balk at its valuation expectations of as much as $30 billion.  A group of pension funds and institutional investors have committed to buying 6.4 billion kronor worth of shares in the IPO. The offering of as much as 21% of Volvo Cars runs through Oct. 27, and the shares are set to start trading in Stockholm on Oct. 28. Goldman Sachs Group Inc.

China's Geely buying majority stake in Lotus

Geely, the Hong Kong car company that owns Volvo, is acquiring control of British car company Lotus. Geely is purchasing a 51-percent stake in Lotus from struggling Malaysian car company Proton, and a 49.9 percent stake in Proton itself. Etika Automotive will gain the other 49 percent of Lotus. France's PSA Group and Japan's Suzuki had apparently also been interested in acquiring Proton. Geely says it plans to revive both Proton and Lotus. "The agreement lays the foundation for a wider framework for both Geely Holding, Proton and Lotus to explore joint synergies in areas such as research and development, manufacturing and market presence," Geely said in a news release. Those joint synergies will be highlighted by the lightweight chassis technology Lotus is known for, which could help Geely improve fuel efficiency. Geely CFO Daniel Donghui Li said the company aims to "unleash the full potential of Lotus Cars" by expanding and accelerating new products and technologies. Proton was nationally held but was privatized in 2007 to Malaysian conglomerate DRB-Hicom, which is owned by tycoon Syed Mokhtar Al-Bukhary. It was supposed to be the flagship for Malaysia's economic development.Though it owns two factories, Proton mainly rebadges foreign-made cars and sells them in Malaysia. What it has, what Geely presumably wants, is a distribution network in Southeast Asia to pit Chinese cars against Japanese automotive dominance in the region. Retaining a 50.1-percent stake in Proton is seen as a face-saving move. "Proton will always remain a national car and a source of pride, as Proton will still have a majority hold of 50.1 percent," Malaysian finance official Johari Abdul Ghani said. "Our very own much-loved brand now has a real chance in making a comeback, a huge one I hope." Related Video: