2005 Volvo Xc90, T6 Sport Utility 4-door, 2.9l Turbocharged, Awd, Automatic on 2040-cars

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Geely wants to be a tech-sharing 'friend' of Daimler in $9B bet

Chinese carmaker Geely has built up an almost 10-percent stake in Daimler in a $9 billion bet by its chairman that he can access the Mercedes-Benz owner's technology in the growing battle for the future of automotives. The purchase by Li Shufu, Geely's founder and main owner, means China's largest privately-owned automaker is now the biggest shareholder in Germany's Daimler. Geely said on Saturday there were no plans "for the time being" to raise the stake further. Instead, it will seek to forge an alliance with Daimler, which is developing electric and self-driving vehicles, to respond to the challenge from new competitors such as Tesla, Google and Uber. "No current car industry player is likely to win this battle against the invaders from outside without friends. To achieve and assert technological leadership, one has to adapt a new way of thinking in terms of sharing and combining strength. My investment in Daimler reflects this vision," Li said. "Daimler is pleased to announce that with Li Shufu it could win another long-term orientated shareholder, which is convinced by Daimler's innovation strength, strategy and future potential," the German company said in a statement. Geely officials plan to travel to Stuttgart to meet Daimler executives early next week and also hope to meet top German government officials in Berlin, two sources familiar with the matter told Reuters. The Chinese firm plans to use the meetings to underline that it intends to be a supportive long-term investor, they said. Daimler had no immediate comment on any meetings. Geely and the German economy ministry declined to comment. Chinese investors in German technology companies have tended to take a consensual approach, buying incremental stakes in companies such as robotics firms Kuka and Kion, typically after long consultation with management and other stakeholders. In November, Geely asked Daimler to issue new shares so it could buy a stake, as a way to access Mercedes-Benz technology for electric cars and trucks, including battery technology, to help Geely comply with a Chinese crackdown on pollution. But the German company turned down the offer saying it did not want to dilute existing shareholders, sources at the time told Reuters. Li changed tactics, and quietly amassed a stake of 9.69 percent worth $9 billion at Daimler's current share price.

Volvo returns to profitability

Ford sold Volvo to Zhejiang Geely Holding Group Limited in 2010. Just two years later, Geely announced an $11-billion investment in the Swedish carmaker, its charismatic fugleman Li Shifu saying, "We want to revive Volvo and give the brand its strength back." Two years later, after having introduced the Concept XC Coupe at the Detroit Auto Show this week, Volvo CEO Håkan Samuelsson (above, second from right) declared the company profitable again after a solid 2013 and predicted a positive 2014.
Intending to break even on operating profit in 2013, Volvo exceeded expectations and landed on the plus side due to a mix of factors. US sales declined 10.1 percent for the year to 61,233, that number still making us Volvo's largest market, but Chinese sales were up nearly 46 percent to 61,146 units, and even its home market saw a bump of 0.8 percent; total sales for the year were 427,840, a margin of 1.4-percent over the previous year. Volvo was able to do more with the tiny gain and reverse its half-year operating loss because of a global cost restructuring and thorough revamp of its Chinese distribution network. An announcement of 2013's financial results will come in March.
Bullishness on 2014 comes from the company's intention to focus on its two biggest markets with new models, new technology and more spending. The first product of an independent Volvo, the new XC90, will be revealed later this year on the new SPA architecture. On top of the Sensus Connect infotainment system, Volvo will add driver-aid systems like adaptive cruise control with steer assist and night-time pedestrian detection. It also has a new North American CEO and will spend more on marketing and communications here. In China it will begin to feel more effect from the two Chinese factories opened last year - it has three in the country - and, if need be, can take advantage of more advantageous exchange rates by exporting from China instead of the US. Said Samuelsson of what he expects in the US in 2014, "we will outperform the market."

Volvo's electric XC90 SUV to include lidar as standard equipment next year

DETROIT — Volvo Cars plans to make lidar sensors standard equipment in a new generation of its XC90 SUV next year as part of a strategy to deploy more advanced safety and automated driving technology that relies on precise images of the world around the vehicle. The decision by Volvo Cars to fold lidar sensors into the base price of its vehicle is a bet that customers will pay for the additional capability. It has been called a "watershed moment" by some in the industry. The Swedish brand, owned by China's Geely group, is taking a sharply different road from rival Tesla Inc, which has shunned lidar and radar and is focusing on just cameras and software for its automated driving systems. Self-driving car sensor startup Luminar Technologies Inc will supply Volvo Cars with its Iris lidar and Sentinel software in combination with software from Volvo in the electric XC90 SUV that will be built in South Carolina and go on sale in 2022, the companies said. The new technologies are designed to address traffic situations that often result in severe injuries and fatalities. Over time, the technology will become more capable and will increasingly intervene to prevent collisions, the companies said. "By having this hardware as standard, we can continuously improve safety features over the air and introduce advanced autonomous drive systems," Volvo Cars Chief Executive Hakan Samuelsson said in a statement. Lidar sensors, which use laser light pulses to render precise images of the environment around the car, are seen as essential by many automakers to enable obstacle detection and avoidance in advanced driving assistance systems and eventually in fully automated vehicles. Complete sensor set on on electric successor to XC90 Until now, lidar has been too costly for automakers to implement as anything other than an option that costs extra. Luminar CEO Austin Russell said the pricing for its lidar is on the order of $1,000 per unit. Volvo Cars' chief technology officer, Henrik Green, said cost is not the focus for the Swedish auto brand. While the price of the technology will come down over time as volumes grow, the rollout will accelerate use of automated services that the company can charge for. Green said subsequent vehicles will add the lidar package as standard, and that this continues Volvo Cars' history of being first to standardize many safety features, including three-point seat belts and side-impact airbags.