2005 Volvo Suv Xc90 T-6 Awd 2.9 on 2040-cars

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Daimler rebuffs Geely offer to buy stake

HONG KONG/BEIJING - Daimler AG has turned down an offer from China's Geely to take a stake of up to 5 percent via a discounted share placement, as the German automaker has long been reluctant to see existing shareholdings diluted, sources with knowledge of the talks said. A stake of that size would be worth $4.5 billion at current market prices. Although Daimler declined the offer, it told Geely it was welcome to buy shares in the open market, the sources added. Carmakers in China have embarked on a flurry of dealmaking, as they scramble to boost production of electric and plug-in hybrid vehicles ahead of tough new quotas to be imposed by Beijing, which wants to reduce urban smog and lower the country's reliance on oil. People with knowledge of Geely's thinking said the company was keen to access Daimler's electric car battery technology and wanted to establish an electric car joint venture in Wuhan, the capital of Hubei province. Geely, which also owns Swedish car maker Volvo, is still hopeful it can secure a deal in some form over the coming weeks, they added. The two automakers met in Beijing in recent weeks at Geely's behest. There, the Chinese firm, formally known as Zhejiang Geely Holding Group, offered to take a stake of between 3 percent and 5 percent if Daimler would issue new shares at a discount, the sources said. It was not immediately clear what kind of discount for the shares Geely had in mind or whether Geely was interested in buying the shares on the open market. A spokesman for Geely declined to comment. A spokesman for Daimler said the company was "very happy with our shareholder structure at present", but added that it would welcome new investors with a long-term interest in the company. Shares in Daimler were up 1 percent in early Wednesday trade, in line with the broader market.DAIMLER ALREADY TIED TO BAIC, BYD Geely, which has a market value of some $32 billion, is the leading domestic brand in China with a 5 percent market share, according to an analysis by Nomura Securities. A stake of 5 percent would establish it as Daimler's third-largest shareholder behind the Kuwait Investment Authority and BlackRock, who hold 6.8 percent and 6 percent respectively, according to Reuters data.

Volvo confirms V60 Sportswagon engine lineup for US

In addition to revamping its entire 2014 lineup, Volvo has already promised us that we'll be getting the V60 wagon early next year, but now the Swedish automaker has confirmed that sexy wagon will go on sale in January. If that's not good enough for you diehard station wagon models, there's even better news: An available R-Design model will be the "fastest and most powerful wagon in Volvo history."
The V60 R-Design will have a turbocharged inline six-cylinder engine under the hood producing 325 horsepower and 354 pound-feet of torque. Other engines available in the wagon will include the company's well-regarded turbo inline-five along with a new turbo inline-four wearing the Drive-E name. Volvo says Drive-E can "offer the opportunity" to add electrification, but there's no word as to whether or not the US will receive a V60 plug-in model. Also not yet released are fuel economy, vehicle specs and pricing. More information about the V60 and its powertrains are available in the official press release posted below.

Volvo XC40 delayed because it's too big for its own good?

As fuel prices rise and greenhouse gases poke holes in the ozone, big, gas-guzzling sports utility vehicles are becoming less popular as smaller, cleaner vehicles, such as crossovers, gain market share. Volvo is late to the small crossover party, though it wants to build the XC40 crossover to compete with the Land Rover Evoque. The only problem with that, Autocar reports, is that a suitable (read: small enough) platform for it is up to five years away, despite a hopeful photos of it in testing guise.
Volvo is currently developing a new platform, called SPA (Scaleable Platform Architecture), to underpin its next-generation of vehicles, such as the 2014 XC60 pictured above and the S60 sedan, which is likely the smallest vehicle that would be able to use the new platform. Furthermore, there doesn't seem to be a quick fix for the gaping hole in Volvo's lineup, and Geely, the Chinese budget car manufacturer that owns Volvo, is reportedly preparing to launch a mid-market brand that may or may not be sold outside of China.
Can't Swedish car manufacturers catch a break?