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Volvo Cars' sales of fully electric vehicles jump in October

STOCKHOLM - Volvo Cars' sales in October grew 10% from a year earlier to 59,861 cars as fully electric car sales jumped but hybrid models fell, the Sweden-based group said on Friday. Volvo Cars said in a statement sales of fully electric cars rose 29% to account for 18% of all its cars sold in the month. Sales of hybrid cars, however, fell 8%. In total, all recharge models were up 7% to account for 36% of total sales. Shares in the group, which is majority-owned by China's Geely Holding, were up 6% in morning trade, taking the year-to-date drop to 12%. CEO Jim Rowan last week said he saw healthy demand for Volvo cars and widening profit margins for its battery electric vehicles (BEV) this quarter, against the third, as the group posted third-quarter profits that lagged estimates. Rivals such as General Motors, Ford, Tesla and Volkswagen have earlier warned that demand for EVs was not developing as expected. Volvo Cars said on Friday that sales in the biggest market Europe were up 13% in October. Sales in the U.S. were up 19% while, in China, they were flat. (Reporting by Anna Ringstrom, Editing by Terje Solsvik and Jacqueline Wong)

Volvo EX90 will provide SunLike sunlight for occupants and cargo

Volvo says another one of the human-centric features coming to the EX90 battery-electric wagon is a sun-like light. A few years ago, Korean firm Seoul Semiconductor developed a range of LEDs called SunLike, the heliotropic name derived from the non-flickering LEDs producing illumination close to the spectrum of planetary daylight. The science bits include a new diode architecture, a purple emitter and different phosphors in place of the usual yellow. The upshot for EX90 occupants is said to be in-car light that's easier on the eyes, less low-light reflection, and color and texture reproduction closer to nature — all that Nordico recycled synthetic fabric, Forest Stewardship Council-certified wood, and wool from sustainably-raised sheep will look more natural.. The lights have found their way into some museums, curators looking for improved color rendition from the artworks. The Swedes say they're the first to use these lights in an automotive application. There will be 72 SunLike LEDs placed throughout the vehicle, being all the non-decorative lights in the cabin ceiling, floor, and door pockets, and the trunk. The design lead for color and materials said, "By utilizing the spectrum of light emitted from the SunLike LEDs, the progressive materials and interior design of the Volvo EX90 stand out more clearly and without colour distortion. Complementing our wood deco and other natural materials inside the cabin, the lights are central to our Scandinavian design language." The Polestar 3 will get the same treatment. The seven-seat, twin-motor EX90 with up to 300 miles of range starts rolling down lines in Volvo's South Carolina plant later this year. The crossover will make safety as important as comfort, the EX90 incorporating cameras, radar, lidar, and Nvidia-powered software to take stock of the vehicleÂ’s surroundings plus the driverÂ’s gaze and attention. The lidar can detect objects ahead to centimeter accuracy from 250 meters (about 820 feet) away in glaring sun or total darkness, Volvo says. Volvo describes the EX90 as “a highly advanced computer on wheels” with the ability to improve over time thanks to over-the-air software updates. Preorders are open now, with "well-equipped" configurations said to come in "at  under $80,000." Deliveries begin in early 2024. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Man convicted of spying on truck maker Scania for the Russians

STOCKHOLM — A Swedish court on Wednesday sentenced a 47-year-old man to three years in prison for spying for Russia, which involved selling secret information from truck maker Scania. The court said it had found the man guilty of acquiring and selling the secret information from the truck maker to a Russian embassy official. The court acquitted the man of similar espionage charges at Geely-owned carmaker Volvo Cars. "To be convicted of espionage, it is required that Sweden's security can be damaged if the information benefits foreign powers," the court said in a statement. "The district court has ruled that this is the case with regard to the information that the man obtained from Scania, while it has not been proven that this is the case with regard to the information from Volvo." The court statement said the man regularly received cash at his meetings with the Russian embassy official, which it considered was compensation for the information provided. The man, who has denied wrongdoing, was apprehended whilst meeting the diplomat in a restaurant, having just received 27,800 Swedish krona ($3,242). He worked as a consultant for Volvo Cars in 2016 and 2017 and for Scania in 2018 and 2019, until he was arrested. The man's lawyer said he would appeal. Scania is owned by truck maker Traton. Government/Legal Volvo Scania