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Volvo confirms return of the wagon with V60 headed to US

Turns out that promised new production Volvo model for the United States is indeed the V60 wagon, as we had previously predicted. And it's not terribly surprising, as Volvo has a long and storied history of wagon sales in the US, from the old, loveable 240 to the more recent high-performance V70R. And yet the automaker hasn't had a proper non-XC, non-crossover-style wagon in the US since it pulled the V70 away at the end of the 2010 model year.
"The new Volvo V60 is for people who want the handling of a dynamic sports sedan but need the versatility of a wagon," says Volvo, highlighting the reason many of us on the Autoblog team harbor such fondness for wagons in general.
Volvo is currently showing off the R-Design package for its entire model line, including the V60, at the New York Auto Show. We don't know for sure if the V60 will launch with the R-Design package or if it will come at a later date, and we also see no mention of a Polestar edition, though we're hopeful.

Swedish man charged with spying on Volvo for Russia

STOCKHOLM — Sweden has indicted a 47-year-old man suspected of handing information to a Russian diplomat, the Swedish Prosecution Authority said on Monday. The prosecutor said in a statement that the man, who was not identified, had worked as a consultant at several Swedish companies, where he had illegally obtained and sold information, placing the country's security at risk. Public service broadcaster SVT said the man was Swedish. "While a consultant at his former workplaces, I allege that he obtained material with the purpose of providing information to a foreign power, in this case Russia," prosecutor Mats Ljungqvist said. "The man was apprehended whilst meeting a Russian diplomat where he had just received 27,800 Swedish crowns ($3,360) from the diplomat." SVT reported that the man being charged had passed on information from automaker Volvo Cars and truckmaker Scania. A Scania spokesman confirmed that the man had worked as a consultant at the firm, while Volvo Cars declined to comment. The authority said the man had transferred material from computers to memory sticks as well as photographing the screen of his work computer, adding the crime could carry a sentence of up to six years in prison. "The crime is serious and, if convicted, the suspect could expect a lengthy sentence," Ljungqvist said.

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.