CEO van Volvo Cars zegt dat de vraag standhoudt ondanks de piek in COVID – Reuters Canada

CEO van Volvo Cars zegt dat de vraag standhoudt ondanks de piek in COVID – Reuters Canada

Translating…

STOCKHOLM (Reuters) – Swedish carmaker Volvo Cars expects to hit its forecast of roughly flat sales year-on-year in the second half of 2020 even as a recent a surge in cases across Europe makes the outlook more uncertain, Chief Executive Hakan Samuelsson told Reuters.

Volvo, bought by China’s Geely Holding in 2010, has repositioned itself during Samuelsson’s tenure as a premium carmaker with a range of popular sports utility vehicles (SUVs), taking on far larger rivals such as BMWBMWG.DEand MercedesDAIGn.DE.

It notched a sixth straight annual sales record in 2019, of more than 700,000 cars, and while hit by the pandemic earlier this year has seen a sharp rebound in recent months, helped by strength in China and the United States.

“We have a second wave in Europe which is making the outlook a bit more uncertain, but July and August started very well, and for September we are roughly on the same level as last year,” Samuelsson told Reuters.

“For the rest of the year I would say our base case is still to be back roughly at where we were last year.”

Samuelsson said Volvo had available production capacity at its U.S. plant and in China, while its European factories in Gothenburg, Sweden, and Ghent, Belgium, were running at full capacity.

Earlier this year the group unveiled plans for a merger with its sister company Geely Automobile0175.HK, but talks are on hold as Geely works to list its shares on China’s Nasdaq-like STAR board.

Samuelsson, 69, a former executive at truckmakers Scania and MAN, said Volvo was working on the matter internally and expected to announce news on the way forward before year-end.

“Volvo’s Swedish and Geely’s Chinese, and if we do something together it has to be a strong global internationally governed group, with an international management and board,” he said.

“The question is how we should solve that… There are different models for securing the synergies that by the end of the day are the main reason for this.”

Volvo, which aims for half the cars it sells to be fully electric by 2025 and plans to separate its combustion engine business into a standalone unit, will start production of its first fully electric car, the XC40 Recharge P8, this month.

After that, it plans to launch one new fully electric car per year.

“I think the timing is perfect,” Samuelsson said. “The pandemic has clearly accelerated the transformation to electric, and we are more committed than ever to go in that direction.”

Reporting by Johannes Hellstrom; Editing by Niklas Pollard and Jan Harvey

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Lees Verder

CEO van Volvo Cars zegt dat de vraag standhoudt ondanks de piek in COVID – Reuters Canada

CEO van Volvo Cars zegt dat de vraag standhoudt ondanks de piek in COVID – Reuters Canada

Translating…

STOCKHOLM (Reuters) – Swedish carmaker Volvo Cars expects to hit its forecast of roughly flat sales year-on-year in the second half of 2020 even as a recent a surge in cases across Europe makes the outlook more uncertain, Chief Executive Hakan Samuelsson told Reuters.

Volvo, bought by China’s Geely Holding in 2010, has repositioned itself during Samuelsson’s tenure as a premium carmaker with a range of popular sports utility vehicles (SUVs), taking on far larger rivals such as BMWBMWG.DEand MercedesDAIGn.DE.

It notched a sixth straight annual sales record in 2019, of more than 700,000 cars, and while hit by the pandemic earlier this year has seen a sharp rebound in recent months, helped by strength in China and the United States.

“We have a second wave in Europe which is making the outlook a bit more uncertain, but July and August started very well, and for September we are roughly on the same level as last year,” Samuelsson told Reuters.

“For the rest of the year I would say our base case is still to be back roughly at where we were last year.”

Samuelsson said Volvo had available production capacity at its U.S. plant and in China, while its European factories in Gothenburg, Sweden, and Ghent, Belgium, were running at full capacity.

Earlier this year the group unveiled plans for a merger with its sister company Geely Automobile0175.HK, but talks are on hold as Geely works to list its shares on China’s Nasdaq-like STAR board.

Samuelsson, 69, a former executive at truckmakers Scania and MAN, said Volvo was working on the matter internally and expected to announce news on the way forward before year-end.

“Volvo’s Swedish and Geely’s Chinese, and if we do something together it has to be a strong global internationally governed group, with an international management and board,” he said.

“The question is how we should solve that… There are different models for securing the synergies that by the end of the day are the main reason for this.”

Volvo, which aims for half the cars it sells to be fully electric by 2025 and plans to separate its combustion engine business into a standalone unit, will start production of its first fully electric car, the XC40 Recharge P8, this month.

After that, it plans to launch one new fully electric car per year.

“I think the timing is perfect,” Samuelsson said. “The pandemic has clearly accelerated the transformation to electric, and we are more committed than ever to go in that direction.”

Reporting by Johannes Hellstrom; Editing by Niklas Pollard and Jan Harvey

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Lees Verder

CEO van Volvo Cars zegt dat de vraag blijft bestaan ​​ondanks de piek in COVID – Reuters UK

CEO van Volvo Cars zegt dat de vraag blijft bestaan ​​ondanks de piek in COVID – Reuters UK

Translating…

STOCKHOLM (Reuters) – Swedish carmaker Volvo Cars expects to hit its forecast of roughly flat sales year-on-year in the second half of 2020 even as a recent a surge in cases across Europe makes the outlook more uncertain, Chief Executive Hakan Samuelsson told Reuters.

Volvo, bought by China’s Geely Holding in 2010, has repositioned itself during Samuelsson’s tenure as a premium carmaker with a range of popular sports utility vehicles (SUVs), taking on far larger rivals such as BMWBMWG.DEand MercedesDAIGn.DE.

It notched a sixth straight annual sales record in 2019, of more than 700,000 cars, and while hit by the pandemic earlier this year has seen a sharp rebound in recent months, helped by strength in China and the United States.

“We have a second wave in Europe which is making the outlook a bit more uncertain, but July and August started very well, and for September we are roughly on the same level as last year,” Samuelsson told Reuters.

“For the rest of the year I would say our base case is still to be back roughly at where we were last year.”

Samuelsson said Volvo had available production capacity at its U.S. plant and in China, while its European factories in Gothenburg, Sweden, and Ghent, Belgium, were running at full capacity.

Earlier this year the group unveiled plans for a merger with its sister company Geely Automobile0175.HK, but talks are on hold as Geely works to list its shares on China’s Nasdaq-like STAR board.

Samuelsson, 69, a former executive at truckmakers Scania and MAN, said Volvo was working on the matter internally and expected to announce news on the way forward before year-end.

“Volvo’s Swedish and Geely’s Chinese, and if we do something together it has to be a strong global internationally governed group, with an international management and board,” he said.

“The question is how we should solve that… There are different models for securing the synergies that by the end of the day are the main reason for this.”

Volvo, which aims for half the cars it sells to be fully electric by 2025 and plans to separate its combustion engine business into a standalone unit, will start production of its first fully electric car, the XC40 Recharge P8, this month.

After that, it plans to launch one new fully electric car per year.

“I think the timing is perfect,” Samuelsson said. “The pandemic has clearly accelerated the transformation to electric, and we are more committed than ever to go in that direction.”

Reporting by Johannes Hellstrom; Editing by Niklas Pollard and Jan Harvey

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Lees Verder

Volvo Cars bereidt de eerste groene obligatie voor ter ondersteuning van de strategie voor elektrische auto's – Reuters UK

Volvo Cars bereidt de eerste groene obligatie voor ter ondersteuning van de strategie voor elektrische auto's – Reuters UK

Translating…

FILE PHOTO: An employee at a Volvo car dealer, wearing a protective mask is seen in the showroom, amid the coronavirus disease (COVID-19) outbreak in Brussels, Belgium May 28, 2020. REUTERS/Yves Herman

STOCKHOLM (Reuters) – Volvo Cars, owned by China’s Geely Holding, said on Thursday it had established a new framework to help it fund its electrification strategy and climate plan.

The Sweden-based car maker said the framework would pave the way for its first green bond, aimed at supporting development of new electric car models and increasing production capacity for batteries as well as electric vehicles.

Funds raised under the framework will be earmarked for climate-related projects, Volvo said, adding it would provide improved transparency for investors.

“Our Green Finance Framework allows investors to participate in the transformation of Volvo Cars into an electric car maker,” CEO Hakan Samuelsson said in a statement.

Volvo, bought by Zhejiang Geely Holding Group Co Ltd from Ford Motor CoF.Nin 2010, is targeting a 40% reduction in the carbon footprint of each car it manufactures by 2025 and aims to become fully climate neutral by 2040.

The company is looking to reach the 2025 targets through a string of measures, including generating 50% of global sales from fully electric cars and having a 25% share of recycled plastics in new vehicles.

Sales of plug-in hybrid cars amounted to almost a quarter of its sales in Europe during the first half of 2020.

Reporting by Helena Soderpalm; editing by Niklas Pollard

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Lees Verder

Tesla klaagt de Trump-regering aan om een ​​einde te maken aan de tarieven voor de ‘hersenen’ van zijn voertuigen

Tesla klaagt de Trump-regering aan om een ​​einde te maken aan de tarieven voor de ‘hersenen’ van zijn voertuigen

Translating…

Lees Verder

Auto-start Luminar gaat naar de beurs in een deal van $ 3,4 miljard – Reuters

Auto-start Luminar gaat naar de beurs in een deal van $ 3,4 miljard – Reuters

Translating…

(Reuters) – Automotive sensor startup Luminar Technologies Inc said on Monday it would go public through a merger with special purpose acquisition company Gores Metropoulos IncGMHI.OGMHIU.Owith an enterprise value of about $2.9 billion.

The deal includes $400 million of cash from Gores Metropoulos and $170 million financing by investors including tech billionaire Peter Thiel, GoPro IncGPRO.Ofounder Nick Woodman, Volvo Cars Tech Fund and VectoIQ, the firm that helped Nikola CorpNKLA.Ogo public through a SPAC, also known as a blank-check firm. That gives the Luminar deal a total equity value of $3.4 billion.

Luminar makes lidar sensors and software for vehicles. Lidar sensors, which use laser light pulses to render precise images of the environment around the car, are seen as essential by many automakers to allow higher levels of driver assistance right up to making them capable of self-driving.

“The level of certainty that it can provide as part of an IPO process is definitely very valuable,” Luminar Chief Executive Austin Russell said in an interview of the SPAC deal. He cited the Gores Group’s track record, having done three SPAC deals before and its background in technology and auto.

The combined company will retain the name Luminar Technologies Inc and list on the Nasdaq under the symbol “LAZR.”

The deal is expected to close in the fourth quarter.

“Luminar represents a rare opportunity to invest in the leading player in autonomous driving technology for cars and trucks,” Alec Gores, CEO of Gores Metropoulos, said in a statement. He will join the Luminar board.

Deutsche Bank Securities is the financial adviser to Gores, while GCA Advisors LLC and Jefferies Group LLC are advising Luminar.

Shares of the blank check company jumped about 26% in premarket trade.

In May, Volvo Cars struck a deal with the Silicon Valley-based startup to integrate its technology in its new car platform from 2022. Volvo Cars, owned by China’s Geely Holding [GEELY.UL], bought a stake in Luminar in 2018.

Reporting by Sanjana Shivdas in Bengaluru and Ben Klayman in Detroit; Editing by Sriraj Kalluvila and Chizu Nomiyama

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Lees Verder

Volvo gaat achter Tesla aan met verbeterde PM2.5 roetfilters

Volvo gaat achter Tesla aan met verbeterde PM2.5 roetfilters

Translating…

When sitting in traffic in your car, it’s easy to feel safe and distant from the world outside. Cocooned in a metal shell, protected from what’s on the other side of body panels and glass. But there’s a hidden danger that you can’t see: fine particulate matter called PM2.5, or in other words, microscopic smog.

Sitting in traffic jams or at red lights, which happens a lot with urban driving, is incredibly bad for your health. A study from theUniversity of Surrey in 2016found that, when stuck in a queue, pollution levels inside your car can increase by 40%.

While most cars have some kind of air filtration system, they’re not created equal and can still let harmful particulate matter into the cabin. This kind of pollution is very damaging torespiratory and cardiovascular health, it’s a recognized carcinogen and it can penetrate deep into a person’s lungs because of how fine the particules are.

Volvo wants to set a new standard, though, and is introducing improved cabin air filters on its S90 and S60-based family sedans that it claims can filter up to 95% of fine PM2.5 particles,Engineering and Technology reports.

[Read:This nifty chart compares cost of EVs to their range to find the best value]

The filters come as part of a larger system Volvo has recently introduced on its high-end vehicles, which it called Advanced Air Cleaner tech. The system also uses a PM2.5 sensor to monitor particulate levels in the cabin, which it says no other car on the market has.

Under normal operation, air is exposed to a high-voltage ioniser, which removes tiny pollutants from the air by applying an electrostatic charge to attract them to a filter plate of opposing charge. After this, the air passes through a synthetic fibre-based air filter and enters the cabin.

volvo, v90, s90, internal
Credit:Wikimedia – CC
The Volvo V90, S90, cabin. Now with fancier air filtration, or so the company claims. (2017 model pictured)

Volvo‘s system also uses cabin sensors to automatically close off the external air supply and recirculate the cabin’s air through its purification systems. Volvo says doing this keeps 95% of PM2.5 particles outside the cabin.

[Read:5 things to know when you’re buying your first electric vehicle]

All that said, it’s worth knowing that this isn’t the first time Volvo has made such claims, but this time it seems a little more sure about how effective its system is.

Back in 2014, aWall Street Journal article reported Volvo’s claimsthat its air filtration systems were 90% to 99% effective against PM2.5.

At the time, experts were skeptical. However, their criticisms mostly came from the fact that air filtration systems need to be maintained, filters need to be replaced, and high-voltage ionisers need to be cleaned to keep them performing at their best.

air, filter, car, cabin, breathing, pollution
Credit:Wikimedia – CC
Pictured: Air filter from an Opel/Vauxhall Astra. It’s a fairly standard air filter, for reference, when new, the entire thing should be bright yellow. Without a filter, all that black dust, soot, and pollution would enter the cabin. This particular filter is long past needing to be replaced.

Back then, it seems cars didn’t have air quality sensors in the cabins so it was hard to know if the system was effective long-term. Hopefully, that’s a thing of the past now, though.

Qian Hua, ex-deputy head of the research institute of atmospheric environment at the Shanghai Academy of Environmental Sciences, told WSJ: “As time passes, you must replace the filter with a new one. Otherwise, it won’t work. In general, they keep their effectiveness for about six months.”

Indeed, while 95% effectiveness might sound great, and it is, if you drive in heavy traffic, the best fix is to reduce pollution all together, and remove PM2.5 emitting vehicles from the roads entirely. After all, cyclists and pedestrians don’t have the luxury of air filters.

Tesla has made similar claimsabout its air filtration systems, saying that it filters “99.7% of fine particulate matterand gaseous pollutants, as well as bacteria, viruses, pollen and mold spores.”

Of course, both of these are manufacturer claims, so take them with a pinch of salt. If there’s anything we can learn, it’s to replace your filters regularly!

So you like mobility? Thenjoin our online event, TNW2020, where you’ll hear how data, autonomy, and connectivity are fueling the future of mobility.


SHIFTis brought to you by Polestar. It’s time to accelerate the shift to sustainable mobility. That is why Polestar combines electric driving with cutting-edge design and thrilling performance.Find out how.

Published September 17, 2020 — 10:42 UTC

Lees Verder

Polestar bouwde een betere auto dan Tesla; nu moet het een beter merk bouwen

Polestar bouwde een betere auto dan Tesla; nu moet het een beter merk bouwen

Translating…

Lees Verder

De Chinese winst voor Geely Automobile in het eerste halfjaar daalde; stelt vooruitzichten voor het hele jaar bij – Reuters

De Chinese winst voor Geely Automobile in het eerste halfjaar daalde; stelt vooruitzichten voor het hele jaar bij – Reuters

Translating…

SHANGHAI (Reuters) – Geely Automobile Holdings Ltd on Monday booked a 43% drop in half-year profit and trimmed its full-year sales goal, sending its shares down 4%, as the coronavirus outbreak continues to trouble the world’s biggest auto market.

The results come as China’s overall auto sales slowly recovers from a virus-blighted start to the year. Sales climbed for the fourth consecutive month in July yet are still down 12.7% for the year to date.

China’s highest-profile automaker – due to group investments in Volvo Cars and Daimler AG – posted January-June net profit of 2.3 billion yuan ($331.37 million).

It sold 530,446 vehicles, down 19% on year, leaving revenue down 23% at 36.82 billion yuan, meeting analyst estimates.

“Geely’s 1H20 earnings are largely in line with our expectation, thanks to its significant cost cut efforts, especially in wages and investments in fixed assets,” said Haitong International analyst Shi Ji.

However, the automaker knocked 6% from its full-year sales goal to 1.32 million vehicles – down 3% on year – just two weeks after maintaining a target set shortly before China’s virus lockdown in January.

Geely’s share price fell as much as 4%, versus a 1.5% rise in the benchmark Hang Seng Index.

PLANNED MERGER

Geely has a market capitalisation of about $21.2 billion, eclipsing international peers better known outside of China such as Fiat Chrysler Automobiles NV and Nissan Motor Co Ltd.

Its parent, Zhejiang Geely Holding Group Co Ltd, plans to merge the automaker with affiliate Volvo Cars and list the successor in Hong Kong and possibly Stockholm.

Merger talks were suspended in June, however, while the Hong Kong-listed automaker worked on listing shares on mainland China’s Nasdaq-like STAR board.

Geely plans to revamp factories at home and abroad using manufacturing platforms developed with Volvo Cars since 2013. It also aims to start European exports this year of sport-utility vehicle 01 under its premium brand Lynk & Co.

Reporting by Yilei Sun and Brenda Goh; Editing by Sayantani Ghosh and Christopher Cushing

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Lees Verder