1998 Volvo V70 Glt 2.4 Wagon Low Miles on 2040-cars

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Volvo announces a move away from wagons and sedans as SUV fever spikes

Volvo will move away from station wagons and sedans as it pivots towards an electric-only lineup. While it won't abandon either body style, it hinted it will pare down its presence in both segments as it launches more crossovers. "We need less variants of sedans and wagons. We have a lot of wagons today, with the V60, the V90, the Cross Country, and the non-Cross Country, plus a lot of sedans big and small, long, and extra-long. We need to move from wagons and sedans. We will still have them in the future, but probably not as many," warned company boss Hakan Samuelsson in an interview with British magazine Autocar. He pointed out Volvo's sales mix is about 75% SUVs. Volvo's portfolio in 2021 includes two wagons, the V60 and the V90. Each one is available as a regular low-riding model, or as a Cross Country-branded high rider with all-wheel-drive and rugged styling cues. Selling wagons in 2021 is difficult, even for a brand like Volvo that's been closely associated with the body style for decades. American motorists fell out of love with the long-roof years ago, and Chinese drivers never liked them to begin with. Europeans still buy lifted wagons, but low-riding models are a tough sell, even in Volvo's home country of Sweden. Reading between the lines suggests non-Cross Country-badged models will be axed from the range in the coming years. As for sedans, Volvo has two: the S60 and the S90. It's not too far-fetched to speculate that at least one won't be replaced at the end of its life cycle. While nothing is official yet, and this is just a guess, our money is on the S90. High-riding vehicles are what the market wants in the 2020s, and Volvo (like everyone else) is following demand. It added a fourth model to its palette of crossovers and SUVs when it introduced the 2022 C40 Recharge, an electric soft-roader with XC40 underpinnings and a fastback-like roof line. Unverified rumors claim a flagship model tentatively called XC100 is on its way, and Samuelsson confirmed an entry-level crossover called either XC20 or C20 is currently under development. The model's architecture will come from China-based parent company Geely. Samuelsson explained the shift to an all-electric range will have a profound effect on Volvo's design language. First, a lot of its upcoming cars will be taller, because it's easier to pack a bulky battery pack into a crossover than into a sedan. Second, the firm's future design language will be more streamlined.

Geely chairman is now the single biggest investor in Daimler

Li Shufu, the chairman and main owner of Chinese carmaker Geely, has built a stake of 9.69 percent in Daimler AG, the German carmaker said in a regulatory filing on Friday. The stake, worth nearly $9 billion at the current valuation for Daimler shares, makes Li the biggest single shareholder in the maker of Mercedes-Benz cars, trucks and vans headquartered in the German city of Stuttgart. A Daimler spokesman called the stake purchase a private investment by Li. "We are delighted, with Li Shufu, to have won over another long-term investor who is convinced of Daimler's innovative prowess, strategy and future potential," the spokesman said in response to a request for comment. "Daimler knows and respects Li Shufu as a Chinese entrepreneur of particular competence and forward thinking." Li's stake purchase makes him the top shareholder in Daimler ahead of the Kuwait Investment Authority, which owned 6.8 percent as of Sept. 30, according to Thomson Reuters data. Earlier this month, the German newspaper Bild am Sonntag reported that the Chinese industry giant was seeking to become Daimler's biggest shareholder, likely exceeding the 6.8-percent stake of the Kuwait Investment Authority. The paper said Daimler had reportedly turned down Geely's $4.5 billion offer for a 5-percent stake via a discounted share placement, saying that Geely could buy shares in the open market. Institutional investors currently own 70.7 percent of Daimler, and the company already has strong ties to Chinese automakers BAIC and BYD. Bild am Sonntag said the move was intended as a strategic alliance against Apple, Google and Amazon on autonomous and connected cars. And Reuters reported that Daimler wants to have bespoke "robo taxis" on the road quicker than Google's Waymo, and views Geely as a strong partner for that. Geely conversely is interested in Daimler's electric car battery technology, and sources quoted by the German paper say there are plans to establish joint electric car manufacturing in Wuhan, China, to meet China's smog-reducing quotas. Geely is developing the Lynk & Co. brand of electric and hybrid cars. Geely owns Volvo, which has enjoyed a renaissance under the arrangement, as well as the maker of London's black cabs. In December, it bought a stake in AB Volvo, the maker of Volvo trucks.

Volvo reveals its first vehicle made of fossil-free steel

A few months ago, Volvo teamed up with Swedish steel producer SSAB to develop a type of steel it can use for its vehicles that doesn't use fossil fuels. Now, the automaker has revealed what it says is the world's first vehicle made of fossil-free steel: A four wheeled fully electric load carrier made for quarrying and mining. In addition to having no greenhouse gas emission, it's also autonomous and can follow a pre-programmed route to transport materials at a job site. SSAB produces fossil-free steel by replacing the coal used during the manufacturing process with hydrogen from electrolysis. As Forbes notes, though, the whole vehicle isn't exactly fossil-free, since the steel used for its components provided by third-party suppliers, such as its electric motor, were made using traditional means. Still, Volvo Group CTO Lars Stenqvist told the publication that "majority of the steel" in the vehicle is fossil free. He said three tons of the carrier's 8.2-ton weight is made of green steel from SSAB, and those eight tons include other heavy components like the vehicle's tires. Volvo plans to start a small-scale production for the vehicle next year and to scale up production, depending on the availability of steel from SSAB. The Swedish manufacturer is hoping to start mass-producing its fossil-free steel in 2026, so we may see more Volvo vehicles made using the material by that time. Martin Lundstedt, President and CEO Volvo Group, said in a statement: "This initiative with SSAB sets the benchmark for a fossil-free future. Just as the nations of the world come together at COP26 to address climate change, so too must organizations and industries work in collaboration to develop innovative new solutions for a greenhouse gas emission free future. Volvo Group is committed to pioneering partnerships such as this with SSAB to develop attractive, safe and efficient new vehicles and machines that pave the way for a more sustainable transport and infrastructure system adopted for the future." This article originally appeared on Engadget. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.