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How the Chinese tycoon driving Volvo plans to tackle Tesla

HANGZHOU, China — "Do you know how big Volvo is?" asked Don Leclair, finance chief at Ford. It was 2008, and Leclair was responding to an offer from a little-known Chinese businessman to purchase the Swedish carmaker, which Ford owned. The businessman, Li Shufu, had a company with less than half Volvo's sales and a flagship model, King Kong, almost unknown outside China. He was politely shown the door of the "Glass House," Ford's iconic headquarters near Detroit, according to two people who were at the meeting. Ford's Leclair did not respond to requests for comment about the episode. Fast-forward to 2021 and Li Shufu's company, Zhejiang Geely Holding Group, is one of the biggest-selling automakers in the world's biggest auto market. It controls not only Volvo Cars but also a clutch of global auto brands, and a significant stake in German giant Daimler AG, the maker of Mercedes-Benz. These names are now part of its plans for a revolution in autos. Geely is preparing Volvo for a listing on the Nasdaq Stockholm exchange as a route towards the future of transportation: One where cars are part of an electrified network of mobility services, driving themselves, connecting to each other and — like cellphones — generating an array of data and new business opportunities. It's a vision more Silicon Valley than Detroit, where traditional automakers globally are chasing another giant — Tesla Inc. Li Shufu and his advisers eventually convinced Ford to part with Volvo in 2010 for $1.8 billion. It was the first in a string of deals, tapping brands such as Lotus, Smart and the London Electric Vehicle Company to form a network that he calls a "bigger circle of friends" across industry segments. Li Shufu sees them as building blocks to help Geely compete in a future where autos are not vehicles, but "service providers," he told Reuters in his management suite at Geely's headquarters in Hangzhou, eastern China. In that business model, cars will be available on subscription and offer services such as making payments and in-car apps. They will update their own software, and spawn opportunities in the same way as the mobile operating systems developed by Apple Inc and Google. "We are trying to create an automotive ecosystem similar to Android," he said. Li Shufu, 58, recently adopted a foreign first name - Eric - because he liked the sound of it.

2020 Volvo S60 T8 Long-Term Review Wrap-Up | Final verdict

Twelve months of motoring in the 2020 Volvo S60 T8 went by quickly. Our time in Volvo’s sharp, plug-in hybrid sedan is over, and itÂ’s time for a final verdict. The S60 saw two entirely different worlds in its time with us. We took delivery in normal days — you know, pre-global pandemic — but most of its tenure here was in a Covid-19 world. That being the case, it didnÂ’t get out and travel the country as much as our long-term test vehicles normally do. Prior to getting locked down, our S60 took trips to Chicago, Buffalo, the northern reaches of Michigan and elsewhere in the region. Even once its extended driveway sessions began, we snuck it away once to the East Coast for a quick back-and-forth summer trip. We limited our car swaps to once a month in an effort to stay away from each other on staff and keep each other safe. That meant that each of us got to spend longer stints than usual in the driverÂ’s seat — our normal routine wouldnÂ’t have encouraged this behavior pre-coronavirus. It was more like a true ownership experience, which is exactly what we aim to convey with long-term tests. We plugged it in every night, utilized the Volvo smartphone app to track it and integrated the car more fully into our lives. The odometer reading sat at 16,866 miles in the end. A great number of those miles were done under electric power, thanks to the carÂ’s 22-mile electric range when fully charged — our range testing saw it meet or exceed that figure if driven with a light foot.  And since the car was sitting at home so often, it was working with a full charge in most circumstances. Long highway trips saw us match the carÂ’s combined mpg rating of 30 mpg. Most fill-ups would return a much higher effective mpg number, though, as all the electric motoring helps it along. Folks with shorter commutes should take notice, as S60 T8 ownership will greatly reduce the number of necessary fuel stops. Due to the VolvoÂ’s long 10,000-mile maintenance gaps, it only needed to make one regular dealer stop in our time. Besides that, there were two other trips to the dealer. We had recall work done — there was an issue with the automatic emergency braking system — before the first regular service. And a sunroof snafu was the carÂ’s second and last unscheduled trip to the shop. Read on below for all of our final impressions on the 2020 Volvo S60 T8. 2020 Volvo S60 T8 View 15 Photos Road Test Editor Zac Palmer: The S60 T8 is a slightly sporty sedan, but itÂ’s no sports sedan.

Editors’ Picks February 2023 | Audi RS 3, electric G80 and a longtime favorite

In this month’s set of EditorsÂ’ Picks, we see a wide variety of vehicles earn our recommended status. The Audi RS 3 is a truly stellar sedan with a killer engine, great handling and still enough comfort for daily use. Genesis finds its way onto the list again with its electric version of the G80 midsize sedan, and VolvoÂ’s XC90 still charms after all these years. In case you missed our previous Editors' Picks posts, hereÂ’s a quick refresher on whatÂ’s going on here. We rate all the new cars we drive with a 1-10 score. Cars that are exemplary in their respective segments get an EditorsÂ’ Pick designation. Those are the ones weÂ’d recommend to our friends, family and anybody whoÂ’s curious and asks the question. The list that youÂ’ll find below consists of every car we rated in January that earned an EditorsÂ’ Pick. 2023 Audi RS 3 Quick take: The Audi RS 3 keeps the passion alive with a superb sounding 5-cylinder engine and a torque-vectoring rear differential that massively ups the handling fun. Its interior is a little bland, but it's still a handsome Audi on the outside. Score: 8.0 What it competes with: Mercedes-AMG CLA 45, BMW M240i, Cadillac CT4-V Blackwing, VW Golf R Pros: Epic engine sound, fun AWD system, great handling and acceleration, attractive exterior styling Cons: Interior doesn't pop, expensive for its size From the editors: Road Test Editor Zac Palmer — "If you love a special engine, the Audi RS 3 is a car for you. Few powertrains sound and feel as special as the 5-cylinder engine in the RS 3, and the ferocity with which it accelerates will have you laughing your head off with every pull. The sheer performance out of this little machine is extraordinary, and I'd recommend it to anybody shopping for a small, luxury sports car daily. All that said, I wish Audi could've sorted out better steering and a suitable interior. As-is, both of those factors are negatives in a car that is almost all upside." In-depth analysis: 2023 Audi RS 3 First Drive Review: To hell with business cases   2023 Volvo XC90 2022 Volvo XC90 Recharge View 15 Photos Quick take: The XC90 may be old now, but key updates and a timeless design ensure it's competitive as ever. The Scandinavian interior design appeal has never faded, and now the Google-based infotainment system is fresh and snappy. Even the Recharge PHEV is an awesome alternative with great range and strong electric motor.