2004 Volvo Xc70 Wagon 4-door 2.5l 109k Miles Leather Sunroof Awd on 2040-cars

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Ford, Volvo join Redwood in EV battery recycling push in California

Ford and Volvo will join battery recycling startup Redwood Materials in developing processes, starting in California, to collect end-of-life batteries from electric and hybrid vehicles and recover the materials for use in new batteries, the companies said Thursday. Redwood Materials, co-founded by former Tesla executive JB Straubel, formed an earlier partnership last fall with Ford to develop a “closed loop” or circular supply chain for electric vehicle (EV) batteries, from raw materials to recycling. On Thursday, Redwood Materials said it would work directly with dealers and dismantlers in California to identify and recover end-of-life battery packs. The materials in those packs will be recovered and recycled at Redwood Materials facilities in northern Nevada. U.S. automakers Ford and General Motors Co (GM) have said the battery recycling effort is crucial in efforts to develop a domestic supply chain to meet increasing EV demand. GM and battery partner LG Energy Solution last year announced a partnership with startup Li-Cycle to recycle battery scrap material from Ultium Cells, the GM-LG joint venture that is building battery plants in Ohio, Tennessee and Michigan. Redwood Materials has similar partnerships with battery makers Panasonic in Nevada and Envision AESC in Tennessee, as well as with Amazon. Ford and Amazon are among the investors in Redwood Materials. Reporting by Paul Lienert in Detroit; Editing by Mark Potter Green Ford Volvo Green Automakers Electric

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.

Volvo XC90 successor EV might have been outed in patent images

Motor1 found a trademark application Volvo filed at the EU Intellectual Property Office on June 13 to reserve the name "EXC90." A month later, the Worldscoop Forum for European car fans posted these images, sourced from the same government agency. We can't be certain the two filings are related, but circumstantial evidence points to this being the full-sized XC90's battery-electric successor that will be called the EXC90. Another circumstantial log for the fire is that Volvo ex-CEO Hakan Samuelsson said the coming family transport would start with a vowel. Based on yet another trademark filing from last year and Samuelsson saying Volvo would "give cars a name as you give a newborn child," we've been looking out for the name Embla. But hey, EXC90 Embla would cover all the bases, and it could differentiate the battery-electric XC90 from the hybrid version we know will continue to sell. Rolling with the possibility, the drawings show a crossover taking clear cues from both the current XC90 and the Volvo Concept Recharge design study from November of last year. The headlight design, sold grille and vertical lower intakes look traced from the Concept Recharge. The hood is much more upright, a la the retail XC90, as are the horizontal roof and full-figured sides. In back, the drawings diverge from the XC90 and the concept. The backlight is more raked than that on the XC90, meaning it's far more angled than the upright hatch on the concept. The C-shaped lights are more like units on Volvo sedans, unconnected to the upright light elements beside the hatch glass in the same way the XC90's and concept's are. Below that, there are no visible exhaust outlets, but the ICE-powered XC90 hides its outlets, too. Not long after posting these exterior shots, Worldscoop posted interior shots as well. These represent designs that differ from every Volvo interior save for the inset where the portrait-oriented infotainment screen goes. The left and right steering wheel spokes feature floating inserts. The instrument panel stretches a single vent across its width, removing the vertical vents next to the infotainment screen, and might be reminiscent of the unit in the Polestar in placing the HVAC controls at the bottom of the touchscreen.