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☆ Geely's EV brand Zeekr aims to double sales in 2023, expand in Europe
▼ + stars: | 2023-01-05 | by ( Joseph White | ) www.reuters.com time to read: +2 min

REUTERS/Carlos Barria/LAS VEGAS, Jan 5 (Reuters) - Chinese electric vehicle brand Zeekr aims to double sales in 2023 to about 140,000 vehicles and plans to expand sales in Europe, Chief Executive Andy An told Reuters on Thursday. Zeekr, a brand created by Chinese automaker Geely (0175.HK), sold 72,000 vehicles in 2022, mostly in China. A second Zeekr model, the 009, will go into production this month. Later this year, Zeekr plans to begin selling vehicles there with assisted driving systems engineered with Mobileye (MBLY.O), he added. An said Zeekr plans to build vehicles for Waymo in China, but U.S. production is a possibility, "depending on the market situation."

☆ Zenseact becomes fully owned subsidiary of Volvo Cars
▼ + stars: | 2022-12-31 | by ( ) www.reuters.com time to read: +1 min

Dec 31 (Reuters) - Sweden-based Volvo Car AB said on Saturday it had taken 100% ownership of its autonomous driving (AD) software development subsidiary Zenseact. Volvo Cars acquired 13.5% of shares in Zenseact from ECARX, which made the AD software company a fully owned subsidiary of the Swedish automaker. Zenseact will continue to remain and operate as a standalone company, Volvo Cars said. Despite Volvo Cars taking ECARX's shares in the software company, the ongoing collaboration discussions between Zenseact and ECARX will continue as planned, Volvo Cars said. Zenseact received a strategic investment in 2021 from ECARX where it asked for 15% shareholding in the software company.

☆ Volvo Cars' sales growth accelerates to 12% in November
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: 1 min

STOCKHOLM, Dec 2 (Reuters) - Sweden-based Volvo Car AB (VOLCARb.ST) said on Friday its sales grew 12% year-on-year in November to 59,154 cars. "Overall underlying demand for the company's cars continues to remain robust, especially for its Recharge range of pure electric and plug-in hybrid cars," it said in a statement. The sales growth accelerated compared with October when it was 7%. Volvo Cars, which is majority-owned by Chinese automotive company Geely Holding (0175.HK), said fully electric vehicles accounted for 20% of sales, up from 15% the previous month. Recharge models, including those not fully electric, accounted for 42%, up from 37%.

[1/2] People look at a Polestar car during the Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. The Swedish carmaker, founded by China's Geely (0175.HK) and Volvo Cars (VOLCARb.ST), posted an operating loss of $196.4 million, down from $292.9 million a year ago, while revenue rose to $435.4 million from $212.9 million. Polestar, which listed on the Nasdaq exchange in June via a merger with a special-purpose acquisition company (SPAC), said rising costs for raw materials used to make its batteries had not yet fully hit because of set contracts. "The full extent of that will then... partly offset the raw material costs," he said, adding that the carmaker expected to raise prices further. But Chief Executive Thomas Ingenlath said Polestar was on track to deliver 50,000 cars in 2022.

☆ Swedish EV maker Polestar reports lower operating loss, confirms full-year guidance
▼ + stars: | 2022-11-11 | by ( John Rosevear | ) www.cnbc.com time to read: +2 min

Swedish electric-vehicle maker Polestar said Friday that its third-quarter operating loss narrowed from a year ago as revenue more than doubled, and it confirmed that it still expects to deliver 50,000 vehicles in 2022. (Because Polestar's share price has fallen since it went public, it will have to pay out less than it had previously expected, hence the credit.) "I would like to reiterate: Polestar is a real car company," CEO Thomas Ingenlath said during the earnings call. CFO Johan Malmqvist said that Polestar's lower operating loss was helped by its efforts to reduce costs, specifically short-term reductions in advertising and marketing spending. On the other hand, foreign exchange headwinds exacerbated the loss, and those are expected to continue into next year.

The carmaker is calling the seven-seat SUV its new flagship vehicle, starting at under $80,000. The company said production of the car is expected to begin in the U.S. next year, with production in China to follow. The car also marks the introduction of Luminar Technologies' lidar system as standard equipment in a commercially built vehicle. Many in the automotive industry believe lidar is the next-generation of safety technology and a step closer to more highly-automated or autonomous vehicles. All EX90s will come standard with a lidar sensor and related software from Florida-based Luminar.

Renault's joint venture with Geely will employ 19,000 people at 17 powertrain factories and three research and development hubs, the companies said, adding they expect to reach a final agreement and launch the new company in 2023. Renault and Geely will each hold 50%, the companies said in a statement that did not detail other financial terms. Nissan has said it is considering an investment in the Ampere electric venture. Renault and Geely said they expect their new joint venture would supply internal combustion engines and hybrid powertrains to both Nissan and the junior partner in Renault's existing alliance, Mitsubishi Motors (7211.T). Renault and Geely have an existing joint venture in South Korea.

☆ Renault, Geely clinch deal for internal-combustion joint venture
▼ + stars: | 2022-11-08 | by ( Norihiko Shirouzu | ) www.reuters.com time to read: +3 min

The joint venture will employ 19,000 people at 17 powertrain factories and three research and development hubs, the companies said, adding they expect to reach a final agreement and launch the new company in 2023. Renault and Geely will each hold 50%, the companies said in a statement that did not detail other financial terms. Renault and Geely said they expect their new joint venture would supply internal combustion engines and hybrid powertrains to Nissan and the junior partner in Renault's existing alliance, Mitsubishi Motors (7211.T). They said it would have the capacity to supply about 5 million engines and hybrid systems per year once operational. Renault and Geely Automobile also have an existing joint venture in South Korea.

REUTERS/Aly SongBEIJING/TOKYO, Nov 7 (Reuters) - Nissan Motor Co's (7201.T) concerns about technology transfers have complicated its partner Renault's (RENA.PA) plans to sell a large stake in its gasoline-engine business to China's Geely (0175.HK), three people familiar with the talks said. Nissan's concerns about technology rights have also been one reason why it has yet to reach a preliminary agreement to invest in Ampere. Renault has a 43% stake in Nissan while the Japanese automaker has a 15% non-voting stake in Renault. People with knowledge of the talks have said the two sides have been discussing a reduction in Renault's stake in Nissan, potentially to 15%. Uchida also said Nissan wanted to see a “fair treatment” of its interests in any new partnership Renault strikes with Geely.

Its other major shareholder, PSD Investment, will provide the same amount through "direct and indirect financial and liquidity support," Polestar said. "We welcome the continued support from our major shareholders at a time when the capital markets are volatile and unpredictable," Polestar CEO Thomas Ingenlath said in a statement. Volvo, like other major carmakers, has in recent years invested heavily in making its own electric vehicles and has also said it was committed to supporting Polestar. Volvo aims to sell only fully electric cars by 2030, while Polestar has a goal to launch three more cars by 2026. In February, Volvo formed a joint venture with battery manufacturer Northvolt to build a battery plant in Gothenburg which would produce battery cells specifically for electric Volvo and Polestar cars.

☆ Volvo Cars' sales up 7% in October on "robust" underlying EV demand
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: 1 min

STOCKHOLM, Nov 2 (Reuters) - Sweden-based Volvo Car AB (VOLCARb.ST) said on Wednesday its sales grew 7% year-on-year in October to 54,317 cars. "Overall underlying demand for the company’s cars remains robust, especially for its recharge range of pure electric and plug-in hybrid cars," it said in a statement. Volvo Cars, which is majority-owned by Chinese automotive company Geely Holding (0175.HK), said fully electric vehicles accounted for 15% of sales. Recharge models including those not fully electric accounted for 37%. The group last week reported a drop in quarterly operating profit as higher costs bite and predicted slightly lower wholesale volumes in 2022 than last year.

☆ Luminar says it has begun production of its automotive lidar units ahead of schedule
▼ + stars: | 2022-11-02 | by ( John Rosevear | ) www.cnbc.com time to read: +2 min

Automotive sensor company Luminar said it has begun production of its Iris lidar units for an automaker client, a major milestone that it had previously expected to reach around year-end. Luminar's lidar units are part of an advanced driver-assist system on the Rising Auto R7, a new electric SUV from the largest Chinese automaker, SAIC Motor. Luminar previously announced deals to supply other automakers including Volvo Cars and Polestar, but it hadn't previously revealed plans to begin production of the Iris units earlier than 2023. The lidar units are being made in a factory in Mexico owned by Canadian electronics manufacturer Celestica. Celestica and Luminar are together building a new dedicated factory, also in Mexico, that will be able to manufacture 250,000 Iris units per year.

☆ Geely’s pricey cars can hope for some premium spin
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Nov 1 (Reuters Breakingviews) - Geely Automobile (0175.HK) is hiving off its young electric vehicle brand, Zeekr. The Hong Kong-listed group’s chairman and founder Li Shufu has a lot riding on how the deal is positioned as the valuations of its homegrown rivals crash. Parent Zhejiang Geely’s extensive experience building battery-powered models and the Volvo Car (VOLCARb.ST) owner’s track record overseas suggests the upstart can scale rapidly. So far so good: Zeekr, which launched only last year, sold nearly 40,000 premium cars in the first nine months. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Oct 27 (Reuters) - Swedish automaker Volvo Cars (VOLCARb.ST) expects lower wholesale volumes this year, it said on Thursday as it reported a drop in third-quarter operating profit, hit by higher costs and lower volumes. The Gothenburg-based company now expects 2022 wholesale volumes to be "slightly lower" compared with the year before, down from a previous forecast for better wholesales volumes than in 2021. In addition, Volvo said it had been forced to conduct spot buying of semiconductors to fill production shortfall and logistics costs, in addition to mounting raw material costs that all hurt its operating profit. Only this week, the shortage saw Volvo having to shut one of its Swedish factories for a week. Stockholm-listed Volvo, majority owned by Chinese automotive company Geely Holding [RIC:RIC:GEELY.UL], said its quarterly operating profit fell to 2.1 billion Swedish crowns ($193.41 million) from 3.3 billion a year ago.

☆ Chinese automaker Geely's new energy brand Farizon raises over $300 mln
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +2 min

BEIJING/HONG KONG, Oct 26 (Reuters) - Chinese automaker Geely's new energy vehicle subsidiary on Wednesday said its brand Farizon has raised over $300 million from a funding round led by Asian logistics firm Global Logistics Properties' (GLP) investment arm Hidden Hill Capital. The new capital raise, which involves other investors such as Chinese logistics and chemical group Transfar and an investment firm backed by major Chinese investment bank CITIC Securities, came as Geely stepped up its new energy vehicle development. Hangzhou-based Geely Holding Group, owner of Zhejiang Geely New Energy Commercial Vehicle Group which sells Farizon, is known globally with its investments in Volvo Cars and Mercedes-Benz. Farizon will use much of the funding "for research & development and ecosystem development, in order to further consolidate its market-leading position in new energy commercial vehicles," Zhejiang Geely New Energy Commercial Vehicle Group said in a statement. Geely New Energy Commercial Vehicle did not disclose Farizon's valuation in the statement.

☆ Chip shortage forces temporary closure of Volvo Cars factory - GP
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: 1 min

STOCKHOLM, Oct 25 (Reuters) - Swedish automaker Volvo Cars (VOLCARb.ST) will temporary close one of its factories due to a chip shortage, the company told newspaper Goteborgs-Posten on Tuesday. "There will be a temporary break in production," Merhawit Habte, press spokesperson at Volvo Cars told GP, adding the factory will be closed for one week. "It is the ongoing problem with semiconductor shortages." Volvo said last month that demand remained good, but the component shortages as well as power cuts and COVID-19 outbreaks in China interrupted output. Reporting by Johan Ahlander; Editing by Jacob Gronholt-PedersenOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. autonomous vehicle group picks ex-Senate aide as director
▼ + stars: | 2022-10-25 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

The Autonomous Vehicle Industry Association (AVIA) has tapped Jeff Farrah as its first executive director, the group told Reuters. U.S. lawmakers have been divided for years over how to amend current auto safety regulations to encompass self-driving cars, including the scope of consumer and legal protections. In August, U.S. House members launched a bipartisan effort to help revive stalled legislative efforts to boost self-driving vehicles. In July, the National Highway Traffic Safety Administration said GM's Cruise and Ford sought exemptions to deploy up to 2,500 self-driving vehicles annually without human controls. The Transportation Trades Department for the AFL-CIO, told U.S. lawmakers in 2021 that autonomous vehicles place "millions of jobs at risk" and any self-driving legislation should not apply to commercial trucks.

☆ U.S. diplomat's wife pleads guilty over fatal car crash that killed British teen
▼ + stars: | 2022-10-20 | by ( ) www.nbcnews.com time to read: +2 min

Appearing at London’s Old Bailey court by videolink from the United States, Sacoolas denied causing death by dangerous driving but admitted the less serious charge. The crash led to a diplomatic spat between London and Washington, with the British government backing the call for Sacoolas to be prosecuted. In 2019, Dunn’s parents travelled to the White House for a meeting with then-President Donald Trump, who surprised them by revealing that Sacoolas was in an adjoining room. Dunn's parents declined to meet her. Sacoolas will be sentenced in the week commencing Nov. 28, and the judge, Bobbie Cheema-Grubb, directed that she attend in person.

☆ U.S. diplomat's wife pleads guilty over fatal UK car crash
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

A banner and a memorial area for British teenager Harry Dunn who died in a road traffic collision is pictured near to the entrance of RAF Croughton, in Croughton, near Brackley, Britain June 11, 2021. The crash led to a diplomatic spat between London and Washington, with the British government backing the call for Sacoolas to be prosecuted. Sacoolas will be sentenced in the week commencing Nov. 28, and the judge, Bobbie Cheema-Grubb, directed that she attend in person. "If sentence is one that does not involve immediate custody, there is no barrier to her returning home after the hearing," the judge said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Michael Holden Editing by Raissa KasolowskyOur Standards: The Thomson Reuters Trust Principles.

☆ Polestar unveils a new $84,000 electric SUV it's hoping will help cement its foothold in the U.S.
▼ + stars: | 2022-10-12 | by ( John Rosevear | ) www.cnbc.com time to read: +2 min

Swedish EV maker Polestar on Wednesday unveiled a new electric SUV that it's counting on to expand its sales and presence in the United States. The new model, called the Polestar 3, is a five-passenger EV that the company describes as a "performance SUV." Priced at about $84,000, the car comes loaded with technology, including an Nvidia computer running advanced driver-assist software developed by Polestar's part owner, Volvo Cars. Another potential rival, BMW's all-electric iX SUV, starts at about $85,000. Polestar is a joint venture between Volvo Cars and Chinese automaker Geely, which has owned Volvo Cars since 2010.

SEOUL, Oct 11 (Reuters) - Renault (RENA.PA) Chief Executive Luca De Meo said on Tuesday the automaker was looking to find a partner for a carve-out of its combustion-engine business that would bring scale and drive down costs on technology, including hybrids. Register now for FREE unlimited access to Reuters.com RegisterDe Meo said Renault was in talks with the French government over its evolving strategy. De Meo has said Renault needs new partnerships because of the scale of the investment needed to shift toward battery-powered cars and charging. In exchange for investing in the EV venture, Nissan is looking to Renault to reduce its stake in the Japanese automaker, a person familiar with the talks said. Renault currently owns about 43% of Nissan, which in turn has a 15% stake in its long-term partner with the French state holding another 15%.

The Renault CEO was scheduled to speak to reporters in Seoul on Tuesday evening, his first public appearance since news broke of the talks with Nissan. In exchange for its investment in Renault's EV unit, Nissan has asked Renault to take steps to sell down its 43% stake in Nissan, people with knowledge of the talks have said. Nissan has a 15% stake in Renault, as does the French government, but the Japanese automaker does not have voting rights. Nissan would also have to sign off on the plan for Geely to take a large stake in Renault's gas-engine business, code-named "Horse." Volvo and Geely created a joint-venture under the name Aurobay to shift their own combustion-engine business into a new stand-alone business.

☆ Polestar confirms it will deliver 50,000 electric vehicles in 2022
▼ + stars: | 2022-10-07 | by ( John Rosevear | ) www.cnbc.com time to read: +1 min

Polestar, the Swedish electric performance car company, has announced that the world premiere of its next car, the Polestar 3 electric performance SUV, will be in October 2022. Swedish electric vehicle maker Polestar said Friday that it is still on track to deliver 50,000 vehicles in 2022 after its factory resumed full production following disruptions from Covid outbreaks in China. Polestar said it delivered 9,215 vehicles in the third quarter, bringing its total deliveries so far this year to about 30,400 vehicles. Polestar is a joint venture between Sweden's Volvo Cars and Geely, which has owned Volvo Cars since 2010. The Polestar 3 is expected to make its formal debut at an event in Copenhagen on Wednesday, with production beginning soon thereafter.

☆ Volvo in Advanced Talks on Possible Lithium Mining
▼ + stars: | 2022-10-03 | by ( William Boston | ) www.wsj.com time to read: 1 min

BERLIN— Volvo Car AB is in advanced talks with some of the biggest mining companies, including over potential stakes in lithium mining or processing operations, Chief Executive Jim Rowan said, joining the auto-industry-wide race to secure the minerals and metals needed to power electric vehicles. “Right now, we already have advanced conversations with some of the big miners, as well as the processing factories that process lithium,” Mr. Rowan said, adding that Volvo would decide in the coming months whether to engage in “long-term deals and long-term price negotiations for supply, or whether you want to make an equity investment.”

☆ Услуга «Volvo Assistance» доступна уже и в Молдове!
▼ + stars: | 2021-06-28 | by ( Mld Media Srl | ) noi.md time to read: +3 min

Если у вас случилась поломка в дороге вы можете набрать номер службы Volvo Assistance и специалисты окажут вам всю необходимую помощь. В случае необходимости механики службы Volvo Assistance приедут и например, заменят проколотое колесо, заправят машину. Нажав кнопку OnCall в автомобилеНажмите кнопку ON CALL в потолочной консоли и удерживайте нажатой не менее 2-х секунд. Система установит голосовой контакт с центром помощи на дорогах «Volvo Assistance». Для того, чтобы пользоваться услугами Volvo Assistance после окончания действия Услуги*, необходимо пройти регулярное техническое обслуживание у официального дилера Volvo Cars.

Organizations: Volvo Volvo, Volvo Assistance, Volvo Locations: Республика Молдова, Европа

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