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Current-generation Volvo XC90 will be sold alongside its successor

Volvo's next-generation XC90 sounds like it will be more of a revolution than a simple evolution — even the name will change. The firm doesn't want to alienate buyers, so it will sell the current-generation model alongside its replacement for at least a couple of years. Allegedly called Embla, the XC90's successor will inaugurate an evolution of the existing SPA2 platform and a number of driver-assistance features. Some rumors claim that it will be offered exclusively with an electric powertrain. Keeping the second-generation model around is a way for Volvo to prevent buyers who don't want an electric car and who don't need the latest and greatest tech features from going to the competition. Making the two people-movers in separate factories will ensure that both can be built without creating logistical issues. "That is an advantage of building the new one in Charleston, South Carolina. Why should we close down the old one in Torslanda when you still have a market for hybrids, especially in America and in China?," said outgoing company boss Hakan Samuelsson in an interview with Automotive News Europe. He stopped short of saying precisely how long the current-generation XC90 will remain in production for, however. Far from worrying about internal competition, Volvo plans to give the XC90 at least one more update in order to help it fend off a growing list of rivals, especially in key markets like the United States. "We will even look into upgrading it so it looks a bit better," he told the publication. As of writing, it's the oldest member of the Volvo range: it spearheaded the brand's revival when it made its debut for the 2016 model year. More information about the XC90's replacement will emerge in the coming months, and we expect to see the model in late 2022. When it lands, it will be clearly positioned as Volvo's flagship, a spot that the XC90 has occupied since the first-generation model arrived in 2002. As new cars become more advanced and correspondingly more expensive, keeping an older model around as a budget-oriented option is a strategy that's slowly gaining ground. Porsche confirmed that the current- and next-generation versions of the Macan will coexist for a few years for reasons not unlike Volvo's. Ram keeps the last-generation 1500 in its range and charges $6,385 less for it than for the new model. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Cadillac tops Tesla in Consumer Reports semi-automated driving test

General Motors' Cadillac outscored Tesla in a new ranking of partially automated driving systems tested by Consumer Reports and released on Thursday. The highly influential nonprofit organization, which tests and rates a variety of consumer products from appliances to vehicles, said it compared Cadillac's Super Cruise and Tesla's Autopilot with similar systems from Nissan and Volvo. Nissan's ProPilot Assist was ranked third and Volvo's Pilot Assist fourth. Consumer Reports said it has been testing partially automated driving systems for several years but elected to conduct a formal study intended for publication, because "we are at a tipping point where they are now going mainstream," according to Jake Fisher, director of auto testing. The organization said its tests, conducted on a private track and on public roads in Connecticut, were designed to measure the systems' ability to automatically control steering and speed in certain situations, while helping drivers pay attention and regain manual control of the vehicle when required. CR noted that any of these systems can increase driving risk if used in inappropriate situations, or if drivers become inattentive or over-reliant on them. While they can help relieve driver stress and fatigue, Consumer Reports said, the partially automated systems are "not intended to be self-driving features." The systems typically use cameras, radar and other sensors, as well as mapping data, to monitor location and traffic conditions and help keep a vehicle centered in the lane at a safe distance behind other cars. Each system has limitations. Cadillac's Super Cruise, for instance, only functions on divided highways that have been mapped by GM. In contrast, Tesla's Autopilot can be used even on small, curvy roads with poor lane markings, but "operates erratically in those situations," Consumer Reports said.The organization tested Super Cruise on the Cadillac CT6; Autopilot on the Tesla Model 3, Model X and Model S; ProPilot Assist on the Nissan Leaf and Infiniti QX50; and Pilot Assist on the Volvo XC40 and XC60. Consumer Reports said Cadillac's Super Cruise did "the best job of balancing high-tech capabilities with ensuring the car is operated safely and the driver is paying attention." Tesla's Autopilot was cited for its capability and ease of use, while Nissan's ProPilot Assist did a better job than Autopilot or Volvo's Pilot Assist in keeping drivers engaged.

Volvo's $2.9 billion stock IPO is a key test in shift to EVs

Volvo Car AB is looking to raise 25 billion kronor ($2.9 billion) in a Stockholm initial public offering in a test for automakers amid the transition to electric vehicles. The Swedish carmaker, owned by China’s Zhejiang Geely Holding Group Co., is offering shares at 53 kronor to 68 kronor each (about $6-$8), according to a statement Monday.  The deal values Volvo Cars at as much as $23 billion, 11 years after the Chinese firm bought the business from Ford Motor Co. for $1.8 billion. The IPO is set to be EuropeÂ’s largest since January, according to data compiled by Bloomberg. The carmaker, with an ambitious plan to only sell full electric cars by 2030, plans to use the funds to add carmaking capacity so it can nearly double annual sales to more than 1.2 million vehicles. Volvo Cars also plans to construct a battery plant in Europe. “We have a very clear strategy to be an electric company in 2030 and weÂ’ve been on that journey for some years now,” Volvo Cars CEO Hakan Samuelsson said in an interview. “With this, of course, we can secure that transformation, because of course, itÂ’s not free of charge.” VolvoÂ’s projected market capitalization of about $20 billion compares to roughly $65 billion for BMW AG, while the German premium carmaker produces more than 2 million vehicles versus Volvo CarsÂ’ 660,000 last year. Newer entrants to the industry such as ChinaÂ’s Nio Inc. and Tesla Inc. have seen their share prices surge past traditional manufacturers even as they sell only a fraction of the number of vehicles. The IPO also comes less than a month after electric-vehicle maker Polestar, controlled by Volvo Cars and Geely, said it will go public in New York via a blank-check merger. The deal implies an enterprise value of $20 billion for the startup, with Volvo Cars expecting to hold a 50% stake in Polestar after it lists. While the century-old Swedish industry stalwart and Polestar have similar valuations, 4-year-old Polestar has a target of delivering only about 29,000 cars this year. Geely previously attempted to take Volvo Cars public in 2018, but called off the listing after investors were said to balk at its valuation expectations of as much as $30 billion.  A group of pension funds and institutional investors have committed to buying 6.4 billion kronor worth of shares in the IPO. The offering of as much as 21% of Volvo Cars runs through Oct. 27, and the shares are set to start trading in Stockholm on Oct. 28. Goldman Sachs Group Inc.