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Junkyard Gem: 1997 Volvo V90

Volvo's "Brick Era" of squared-off rear-wheel-drive machines lasted from the debut of the 144 in 1966 all the way through the 900 Series cars of the 1990s, with the wildly successful 240 being the most iconic of the breed on our shores. The final chapter of the Swedish Brick saga came in the 1997 and 1998 model years, when the 960 sedan and wagon were rebadged as the S90 and V90, respectively. Here's one of those cars, a refrigerator-colored (and refrigerator-shaped) V90 wagon that got forcibly retired after a crash in Northern California. Volvo revived the V90 name in 2016, and you can buy a new V90 right now if you so choose. Today's Junkyard Gem, however, is the culmination of four decades of improvement to the original 140 design (itself based on much of the Amazon's chassis features and sharing plenty of components with the 1940s-era PV Series cars), while the current V90 comes straight out of the 21st century. I've been going out of my way to document just about every discarded 140 and 240 wagon I find, with some 740s and 940s mixed in. Many Volvo longroof owners still maintain a fanatical devotion to the rear-wheel-drive bricks, and I've found some of these cars in junkyards with impressively high final odometer readings. The fuel-efficiency and interior-space limitations of the old-timey brick design kept 960 sales lower than those of their predecessors, though, and I haven't met any 960 owners who share the level of devotion that 145 and 245 owners lavish on their cars. This car just squeaked past 150,000 miles during its 24 years on the road. The body and interior look to have been in very nice condition, showing that meticulous owners took good care of this car throughout its life, but then it got T-boned on the right side. This sort of damage isn't worth fixing on a quarter-century-old European wagon, and so here it sits. This engine compartment looks very similar to that of the old 240, though this modern 3.0-liter, DOHC straight-six and its 181 horses runs counter to the super-sensible spirit of most of those 1970s Goteborg bricks. The 960 was far more plush than its ancestors, and priced accordingly. In 1997, this car's list price started at $35,850 (about $60,660 in 2021 dollars). By comparison, a new 1975 245 wagon had an MSRP of $5,795 (about $29,940 today).

Only VW, Volvo are doing enough to electrify in Europe, study says

Among major carmakers, Volkswagen and Volvo are doing enough to electrify their vehicle lineups in Europe, and the EU needs to set tougher CO2 emission limits if it wants to meet Green Deal targets, according to a climate group's study. Sales of battery electric vehicles and plug-in hybrids almost tripled last year, boosted by tighter emission standards and government subsidies. This summer, the European Union is expected to announce more ambitious CO2 targets; by 2030, the average CO2 emissions of new cars should be 50% below 2021 levels, versus the existing target of 37.5%. Volkswagen aims to have 55% group-wide BEV sales in Europe by 2030, while Swedish carmaker Volvo, owned by China's Geely says its lineup will be fully electric by then. VW ID4 front three quarter dark View 19 Photos Based on IHS Markit car production forecasts, according to the study from European campaign group Transport and Environment (T&E), Volkswagen and Volvo have "aggressive and credible strategies" to shift from fossil-fuel cars to electric vehicles. Others like Ford Motor Co have set ambitious targets, "but lack a robust plan to get there," T&E said. Ford plans an all-electric lineup in Europe by 2030. T&E said BMW, Jaguar Land Rover (JLR), Daimler AG and Toyota rank the worst as they have low BEV sales, have "no ambitious phase-out targets, no clear industrial strategy, and an over-reliance in the case of BMW, Daimler and Toyota on hybrids." JLR, owned by India's Tata Motors, says its luxury Jaguar brand will be all-electric by 2025, but has been less specific about electrification of its higher-volume Land Rover brand. BMW and Daimler have been reluctant to set hard deadlines for phasing out fossil-fuel cars. T&E said even if carmakers meet their targets, in 2030 BEV sales could be 10 percentage points below those needed to meet the EU's Green Deal — which targets net zero emissions by 2050. Rather than a 50% reduction in CO2 emissions by 2030, based on carmakers' existing production plans, the EU could set more ambitious targets, T&E said - an up to 35% reduction in CO2 emissions from new cars by 2025, around 50% by 2027 and up to 70% in 2030. "Targets need to be gradually tightened so that carmakers not only commit to phasing out fossil fuels, but develop a strategy that gets them there on time," Julia Poliscanova, T&E senior director for vehicles and e-mobility, said in a statement.

Volvo aiming for a stock IPO by the end of 2021

Volvo Cars is "making good progress" toward a potential initial public offering by the end of this year, the chief executive of the Swedish premium auto brand told Reuters on Wednesday. "We are looking at the possibility of doing an IPO before the end of the year," listing shares on the Nasdaq Stockholm exchange, company CEO Hakan Samuelsson said in an interview. Samuelsson and other Volvo executives on Wednesday laid out an extensive road map to becoming a fully electric car maker by 2030, including plans to sell 600,000 battery electric vehicles at mid-decade and build a European battery gigafactory in 2026. Volvo earlier this year scrapped a proposed merger with the company's Chinese parent, Hong Kong-listed Geely Automobile. In March, Geely said Volvo would explore capital market options, including an initial public offering and stock market listing. Many startups have gone public in the United States and China over the past two years, following electric vehicle market leader Tesla Inc in taking advantage of investor enthusiasm to raise cheap capital to compete with established brands such as Volvo. Samuelsson said Volvo and Geely will continue to share vehicle architectures, internal combustion powertrains and other components. But the companies will do so at "an arm's length distance," consistent with the way independent companies do business, he said. During Wednesday's briefing, Volvo also said it plans to equip many of its future vehicles with self-driving technology, including standard lidar sensors from Luminar Technologies Inc and computers from Nvidia Corp. "Our goal is to build the safest cars possible, using all available technology," Samuelsson said. As it launches new electric vehicles, Volvo also plans a slew of related products, including insurance and vehicle subscription payment plans offered directly by the automaker, Samuelsson said. "The whole vehicle business will be recurring revenue," Samuelsson said. In Europe, the company plans to change its retail operations so that customers order new electric vehicles directly from the manufacturer, with dealers paid commissions to deliver them, Samuelsson said. In the United States, where laws protect existing dealers, Volvo will still sell vehicles through franchised retailers. For its future electric vehicles, Volvo is working with Swedish partner Northvolt on a new generation of batteries with higher energy and designed to be packaged as a structural element of the vehicle.