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Volvo S60, XC60 caught testing with freshened faces

Neither the Volvo S60 nor the Volvo XC60 are that old, but the Swedish automaker is wasting no time ensuring that two of its most popular products don't get stagnant on the market, a fate that has befallen some of the other products it offers.
Even though these two models helped usher in a new styling direction for Volvo not too long ago, the modest facelifts on tap for both looks like they will bring both products closer to the styling of the handsome overseas V40 hatchback.
Aside from the pointier front end, the XC60 crossover is also getting a revised rear fascia that now includes integrated dual exhaust outlets. The shots of the S60 show us that the sedan's interior will be getting minor tweaks as well, including reshaped front seats and a new shift lever.

Volvo Cars plans $20 billion stock IPO this month, sources say

STOCKHOLM — China's Geely Holding is in advanced discussions with banks to list its Volvo Cars unit in the coming weeks, three sources told Reuters, in what is expected to be one of Europe's biggest initial public offerings (IPOs) this year. Volvo Cars is aiming for a valuation of about $20 billion in the planned Stockholm listing, the sources said, with one saying the launch was penciled in for the end of September. Goldman Sachs and SEB are leading the transaction, while other banks including BNP Paribas, Carnegie and HSBC are also involved in the deal, the sources added. Volvo Cars declined to comment. Geely did not immediately respond to an emailed request for comment outside normal business hours in China. SEB and Goldman Sachs declined to comment. The other banks were not immediately available. Geely, which bought Volvo from Ford more than a decade ago in the biggest acquisition by a Chinese firm of a foreign car maker, sought to float shares in the Swedish firm in 2018 but then pulled the deal citing trade tensions and a downturn in automotive stocks. Traditional carmakers have fallen out of favor in recent years, as Tesla has risen to be one of the world's most valuable companies, putting the focus on electric vehicles. Many European firms have pivoted toward the electric sector, including Volvo, which aims to only make fully electric cars by 2030 and owns a 49.5% stake in electric car maker Polestar. Valuation Gothenburg-based Volvo Cars aims to secure a valuation of roughly $20 billion, one of the sources said, while another mentioned a possible range of $20 billion to $30 billion. A third source suggested a $16 billion valuation was more realistic, citing the firm's revenue outlook. A $20 billion valuation for Volvo would be equivalent to six to seven times its earnings, a level some analysts say is high although it would put it in line with rivals Daimler and BMW. Tesla's valuation is more than 70 times that. NordLB's automotive analyst Frank Schwope estimated a valuation range of $10 billion to $15 billion. "The strong margins seen in the first half of 2021 are unlikely sustainable as the market benefited from a strong post-pandemic rebound that is unlikely to continue," Schwope said. For Geely's founder Li Shufu, who bought Volvo for $1.8 billion, the listing is a milestone on the road to transport of the future, where cars are part of an electrified network of mobility services generating data and business opportunities.

Volvo promises new direct-injected diesels, 8-speed auto

As a part of eliminating its dependence on Ford platforms and powertrains, Volvo has previously announced information about its Volvo Engine Architecture (VEA) and Scalable Platform Architecture (SPA), but now we're finally getting some details about what will power some of the Swedish automaker's next-generation products.
The biggest key to VEA on the diesel engines is a new technology Volvo calls i-ART. This system uses unique injectors at each cylinder capable of monitoring fuel pressure and adjusting accordingly to maximize fuel economy and performance and reduce emissions. Looking ahead, Volvo says its four-cylinder engines will be able to offer the power of a six-cylinder and eventually, mixed with some sort of electrification, will be able to rival the performance of a V8 and "turn V8s into dinosaurs."
More details about the new diesel injection technology is posted in the press release below.