2002 Volvo S40 Base Sedan 4-door 1.9l Turbo on 2040-cars

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China's Geely says it has no plan to buy Fiat Chrysler — as FCA stock leaps

HONG KONG — Chinese carmaker Geely Automobile denied media speculation on Wednesday that it planned to make a takeover bid for Fiat Chryslerk Automobiles (FCA), the world's seventh-largest automaker. Geely was one of several Chinese carmakers cited in by Automotive News, which said representatives of "a well-known Chinese automaker" had made an offer this month for FCA, which has a market value of almost $20 billion. "We don't have such a plan at the moment," Geely executive director Gui Shengyue told reporters at an earnings briefing, when asked if Geely was interested in Fiat. He said a foreign acquisition would be complicated, but he did not elaborate. "But for other (Chinese) brands, it could be a fast track for their development," Gui added. However, a source close to the matter said FCA and Geely Automobile's parent firm, Zhejiang Geely Holding Group, had held initial talks late last year, without disclosing their nature. The source confirmed Geely was no longer interested in FCA, noting that the parent company had only three months ago announced its first push into Southeast Asia with the purchase of 49.9 percent of struggling Malaysian carmaker Proton, a deal that also included a stake in Lotus. Geel's denial failed to dent FCA's stock. The price of its Milan-based shares has jumped more than 10 percent to a 19-year high since Automotive News first reported on Monday, citing unnamed sources, that FCA had rejected the Chinese offer as too low. FCA stock on the New York Stock Exchange rose sharply on Monday from $11.60 to $12.38 and on Wednesday was trading at $12.84. FCA declined to comment on Wednesday. FCA Chief Executive Sergio Marchionne has repeatedly called for mergers as a way of sharing the costs of making cleaner, more advanced cars, but he has repeatedly failed to find a partner and retreated from his search for in April, saying FCA would stick to its business plan. He has also spoken of spinning the successful Jeep and Ram divisions off from FCA. Europe's largest carmaker, Volkswagen, and General Motors have both said they are not interested in talks with FCA. On Wednesday, Geely Automobile reported a doubling of first-half profit, above expectations, as cars designed with Sweden's Volvo won over domestic consumers. Volvo is a unit of the Zhejiang Geely group, and has recently announced it will share its technology with Geely.

Volvo shuts down Gothenburg plant due to chip shortage

STOCKHOLM — Volvo Cars, owned by China's Geely Holding, will temporarily stop production at its Swedish plant in Gothenburg due to the shortage of semiconductor chips, it said on Wednesday. A global chip shortage has hit manufacturing, with automakers cutting down on production and electronic device makers struggling to keep up with a pandemic-led surge in demand for phones, TVs and gaming consoles. "Production at Torslanda will be paused temporarily from this evening due to a material shortage linked with the semiconductor issue," Volvo Cars said in an emailed statement. "Production will restart as soon as possible, at the latest before next week," the Swedish carmaker, which in June halted production at its Belgian plant in Ghent for a week, said. Volvo Cars, which last month reported a return to profit in the first half as demand for electric cars grows, is considering listing on the Nasdaq Stockholm stock exchange this year. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Volvo EX90 will lack certain features on launch, to come later with OTA updates

Turns out there's an asterisk to the news of Volvo commencing production of the EX90 at its South Carolina plant this month. The automaker sent an e-mail to customers awaiting delivery that certain features won't be installed on some delivered units, and posted a notice on its customer help site listing the 10 features that could be missing. Four are safety and ADAS features, one of those related to the lidar system, one of Volvo's primary talking points concerning the EX90. The automaker says the "Lidar first safety scenario" will get an "update that increases the car's abilities, even in darkness — and emergency steering is primed if needed to avoid a collision." It sounds like this means there will be some lidar capability, just not the planned breadth.  Four more items deal with the battery and charging. The most unwelcome might be a battery drainage issue while parked, Volvo saying that for the first three days the EX90 is parked without charging it will lose around 3% of battery charge. This is because the core computing system needs to remain on to run the car's "highly advanced functions" — whatever that means — when the SUV isn't being used. After 72 hours, the EX90 "will go into a deep sleep mode to conserve battery power." Why can't the EX90 enter a deep sleep mode an hour after the car is parked? Because software is hard. Smart charging and Plug & Charge could also be lacking, those features making charging less costly or more convenient without extra steps needed from the driver. Bi-directional charging won't come at first, either, so EX90 buyers should hold on to those portable battery banks.  The two final software puzzle pieces are Apple CarPlay, out to lunch for now, and the one we consider most surprising item on the list, a light theme for the driver cluster and infotainment. On delivery, owners should expect a dark theme only on the digital displays. EX90 deliveries aren't slated to begin until later this year, though, so the OTA list could shrink (or grow) before then.