Volvo Xc90 2.9t Awd on 2040-cars

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Volvo Cars leaps 22% in IPO stock debut — a big endorsement for EVs

Volvo Cars CEO Hakan Samuelsson at the automakers' stock market opening bell on Friday in Stockholm. (Getty Images)   STOCKHOLM — Volvo Cars shares surged 22% on their Stockholm market debut on Friday after wrapping up Europe's biggest IPO of the year so far, in a boost for new issues markets and carmakers' vision of an electric future. The Gothenburg-based company cut the size of its listing and priced it at the bottom of a previously-announced range UPDATE 3-Volvo Cars gives itself $18 bln price tag as cuts IPO size - Reuters News on Monday, valuing it at just over $18 billion and making it Sweden's second largest listing yet. But the successful deal and strong market reaction — which propels the valuation to about $22 billion — is a lift for a European automotive industry that has embarked on a challenging transition towards electric vehicles (EVs). It also shows that while the euphoria over initial public offerings (IPO) in the first half of 2021 is over, the market is open for new listings of big companies with a story to tell. Volvo Cars Chief Executive Hakan Samuelsson said the listing showed a recognition of its transition plans, adding it would be key for Volvo to demonstrate it is on track to be the "fastest transformer." "There's a much bigger interest in the market to invest in electric car makers than in the conventional ones. So we better do what we said we would," he told Reuters in an interview. Shares in the carmaker, which is majority owned by China's Geely Holding, were trading at 64.70 Swedish crowns ($7.59) at 1057 GMT, after being priced at 53 crowns in the IPO. Polestar Apart from Volvo's commitment to becoming a purely electric carmaker by 2030, it also has a 49% stake in EV venture Polestar, which said in September it would go public through a $20 billion deal. Samuelsson said Polestar had a "good valuation." "They are already electric... showing in a way what the potential would be for Volvo if this (the transformation) is done in the right way." A source familiar with Volvo's transaction said the outcome of this week's IPO was good, even though investors had pushed back and forced Volvo to price at the bottom of the announced range. "The company had to compromise on size and the governance structure. They were hoping for a read across on Polestar, but they were clearly not getting that," the source said, requesting anonymity because they were not authorised to speak to the press.

Volvo Concept Estate is a brown shooting brake, need we say more?

Set for a debut at the 2014 Geneva Motor Show next week, images of the Volvo Concept Estate have found their way onto the web courtesy of Jalopnik. If the Concept Coupe from Frankfurt were a modern P1800, the Concept Estate is a modern P1800ES.
We briefly detailed the finale to Volvo's trio of concept cars earlier this week, when images of it poked out finished in a custom car cover. Now, with a batch of uncovered images at hand, we're able to see just how pretty this brown beauty really is.
Below the beltline, this is pretty much the Concept Coupe, featuring the same T-shaped headlights and wide, rectangular grille. Above the beltline, though, things get fun. The long, glass roof terminates in a squat, wide rear end which is set off by a pair of meaty haunches. The taillights, meanwhile, expand on the style shown on Volvo's Detroit concept, the Concept XC Coupe. And that hatch opens up into a rather cavernous rear end.

Volvo offers up more details on 2015 XC90 and its new infotainment system

We have more details on the 2015 Volvo XC90 and the all-new, touch-heavy infotainment system that will debut with it. An expansion of the Sensus system, as we've shown you before, we now know the new system won't only sport a large, vertically oriented touchscreen, but a head-up display and the ability to manage the systems via wheel-mounted buttons.
Key to the entire experience are the large, portrait-oriented touchscreen, a head-up display and the thumb controls you can see on the face of the steering wheel in the image above. Volvo is claiming that this combination will be easier to use and, fittingly for the Swedish manufacturer, safer.
"Using the screen is so logical that it will become part of your muscle memory very quickly," said Dr. Peter Mertens, Volvo's senior vice president of research and development. "Information, navigation and media are high up and easy to check. The phone controls, application icons and climate controls are located low, comfortable to reach and touch. All of this logic is based on extensive usability and user experience research and the latest technology."