2018 Volvo Xc60 T5 Momentum Awd $42k Msrp on 2040-cars

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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 V90 wagon is beautiful, but it's dead in America [UPDATE]

Update: Roadshow reported that the V60 T5 variant is joining the V90 on its way out the door for the 2022 model year. However, the V60 T8 Polestar Engineered and V60 Cross Country will continue on, ensuring that the V60 nameplate does not disappear entirely from the U.S. We contacted Volvo about the news, and a spokesperson confirmed Roadshow's report. We're glad to hear that the performance variant of Volvo's V60 is sticking around, and if you want something more affordable, the lovely and lifted V60 Cross Country can check that box. The original story continues below.   Volvo, a brand practically synonymous with wagons in the U.S., is pulling the plug on one of the last great examples of the form. For Americans, at least. The beautiful and excellent Volvo V90 wagon will no longer be sold in America after the 2021 model year. Its demise was reported by Motor Trend, which didn't quote a source, so we reached out to Volvo for the official word: "Volvo will offer V90 Cross Country in MY22, but simplify the range and no longer offer the standard V90." The move has been foreshadowed for a long time, as Volvo has moved only 1,453 V90s from the car's debut in 2017 through the end of the 2020 model year. The figures don't break out the standard V90 versus the lifted V90 Cross Country, but we would bet that the V90 portion of that figure is infinitesimal.  As we've said in the past, it's a chicken-and-egg problem: The V90 wagon is available only via special order and is not marketed; you can't just walk onto a Volvo lot and choose from stock, as you can Volvo's hot-selling SUVs. Sales of the wagon have been slow for a long time, and earlier this year Volvo head honcho Hakan Samuelsson said the company would move away from wagons and into the arms of the in-demand crossovers. To be clear, the V90 Cross Country will still be available, as will the smaller V60 T8 Polestar Engineered wagon and V60 Cross Country. The loss is a gut-punch to wagon-loving enthusiasts. The V90 was universally well-reviewed, a competent and competitive car — and stunning to behold. It was a pure wagon form, unfettered by unnecessarily lifted suspensions or extra body cladding to make it appear more rugged. It handled better than its crossover cousins thanks to a lower center of gravity, and carried the torch for a long line of great wagons. We are in an arms race for taller, bulkier cars that handle worse and are indistinguishable from one another.

Volvo teases new electric SUV for 2023 reveal

At the launch of the Volvo EX90 flagship electric SUV, Volvo teased a new, smaller electric ute for reveal in 2023. At the end of the presentation (around 1:32:50), Volvo CEO Jim Rowan told media in attendance to look closely as animated graphics appeared on the screen behind the EX90. There, shrouded in darkness, we see the rear illumination of the EX90, with flashes of a smaller SUV appearing next to it briefly. Could this be an electric successor to the XC60, perhaps to be called the EX60? It looks like it could be smaller than the XC60, but it's hard to be sure in this dark image. We’ll have to wait until 2023 to know for sure. But Volvo has said it intends to release a new EV each year as it transitions to an all-electric lineup by 2030. Stay tuned. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.