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2025 Volvo EX30 First Drive Review: Little big time

BARCELONA, Spain — Priced from $36,245, including $1,295 for destination, the new EX30 is VolvoÂ’s least-expensive car. But make no mistake, thereÂ’s nothing cheap about this subcompact electric crossover. From its solid road manners to its clever use of interior textiles, this little cutie is comfortable, competent and bursting with charm. We'll get the EX30 in Single Motor Extended Range and Twin Motor Performance variants when it goes on sale in the U.S. early next year. Both models are powered by a 69-kilowatt-hour battery pack – 64 kWh of which is usable – that can be replenished at a maximum charging rate of 153 kW. Volvo says youÂ’ll only need 27 minutes to take the EX30 from a 10% to 80% state of charge, but thatÂ’s assuming the battery is properly preconditioned, the charger youÂ’re plugged into actually works correctly, the planets are all aligned, etc. The Single MotorÂ’s, um, single motor is mounted to the rear axle, producing 268 horsepower and 253 pound-feet of torque. ThisÂ’ll get the EX30 to 60 mph in a perfectly respectable 5.1 seconds, and Volvo estimates a 275-mile driving range for this configuration – though not if youÂ’re testing that aforementioned launch time on the regular, of course. The Twin Motor Performance has the same rear drive unit, but adds a second motor to the EX30Â’s front axle for a total output of 422 hp and 400 lb-ft of torque. ThatÂ’s a whole heck of a lot of power – even for a 4,140-pound crossover – and my goodness, does this EX30 scoot. Put the EX30 Twin Motor into its Performance AWD setting, stomp the throttle and youÂ’ll hit 60 mph in 3.4 seconds. That makes the EX30 VolvoÂ’s quickest accelerating production car ever. Nifty as that is, however, after a day of driving the EX30 on winding Spanish country roads and darting through traffic in BarcelonaÂ’s busy city center, I think the Single Motor is the way to go. Remember, even the pokiest EVs still feel quick thanks to instant electric torque, and at no point does the Single Motor EX30 ever feel like it canÂ’t get out of its own way. Beyond that, though, the EX30 Single Motor is simply more fun to drive. At 3,858 pounds, the rear-drive EX30 is 282 pounds lighter than the AWD version, and all that weight comes off the front end. This makes VolvoÂ’s tiny EV feel more playful and agile while cornering, especially with the well-weighted steering – not to mention the fun-to-handle squircle wheel.

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 credits China, Europe for first-half profitability

If everything goes to plan, Volvo might be showing the first signs of a turnaround after several years coping with old products and a staid image. The Swedish brand is imminently launching its next-gen XC90 SUV on a completely revised, modular platform and using a cutting-edge family of engines, and it has even more products to take advantage of the fresh components on the drawing board. "We are excited about the launch of the all-new XC90, which marks the beginning of the re-launch of the Volvo brand," said CEO Håkan Samuelsson in the company's announcement. In the meantime, the business is moving back to profitability and is even forecasting growth through the rest of 2014.
In Volvo's recently released financial and sales results for the first six months of the year, volume was up 9.5 percent to 299,013 cars. On top of that, operating income reached 1.21 billion Swedish krona ($175 million) after posting a loss in the same period in 2013. Net income was also improved to 535 million Swedish krona ($77.4 million), which was also a reversal from a negative last year.
With these great results, Volvo is now forecasting 10 percent sales growth worldwide by the end of the year, and the key to it is a booming market in some regions. China, home to parent company Geely, was up 34.4 percent first half of the year. It's now Volvo's biggest market in the world and helped by exclusive models like the S60L (pictured above) and S80L. "We are growing our presence in China and we expect to sell at least 80,000 cars there this year," said Samuelsson in the company's forecast.