Tag: Volvo

Volvo Cars launches cost cutting measures as trade war dents profit again

FILE PHOTO: A Volvo logo is seen at a car dealership in Vienna, Austria, May 30, 2017. REUTERS/Heinz-Peter Bader/File Photo STOCKHOLM (Reuters) – Sweden’s Volvo announced new measures to cut fixed costs by 2 billion Swedish crowns ($214 million) on Thursday, as it became the latest carmaker to warn that pricing pressure and tariffs arising… Continue reading Volvo Cars launches cost cutting measures as trade war dents profit again

Peloton’s new automated vehicle system gives one driver control of two trucks

The trucking world has been inundated in recent years by startups and large companies alike pitching an array of automated driving technology and business strategies, all aiming to solve the big three problems with freight: safety, fuel costs and driver shortages. For Peloton Technology, a Silicon Valley company that launched in 2011, the answer doesn’t… Continue reading Peloton’s new automated vehicle system gives one driver control of two trucks

Polestar 2 performance package cues rivalry with Tesla Model 3

Quite a few automakers are gunning for Tesla, especially startup automakers in Silicon Valley and China.

Perhaps the most direct, credible threat, however, comes from Polestar, Volvo division that plans to focus on performance-oriented electric cars.

The Polestar 2, planned to debut late this year, is aimed directly at the Tesla Model 3, with a base price of about $45,000 when it goes on sale next year.

The brand has now confirmed that the Polestar 2 will come with a performance package, similar to the Model 3.

Several details of the performance package have already leaked out, but it wasn't clear whether the high-performance components would be standard, available as individual options, or part of a package.

Autoblog first reported the package last Tuesday. Now Polestar has confirmed to the website that the performance package will include Brembo brakes, Öhlins shock absorbers, 20-inch forged alloy wheels, and unspecified grippier tires. It will also include some eye-catching trim, including body adornments and apparently yellow seat belts.

Polestar 2
Polestar 2
Polestar 2

The launch edition of the Polestar 2 is expected to sell for $63,000, though even that may not have all the elements of the performance package. The Tesla Model 3 Performance starts at $61,100 with delivery. The price of the Polestar 2 Performance Package hasn't been set, but the company is reportedly targeting a price of about $5,000.

Both will include all-wheel drive. The Polestar 2 with its performance package is expected to have 408 horsepower and 487 pound-feet of torque from two electric motors and reach 60 mph in less than five seconds. It is expected to have a 78-kwh battery and Polestar is targeting a 275-mile EPA range rating.

The Polestar 2 is a fastback design based on parent-company Volvo's XC40 small SUV. The XC40 itself will likely be offered with a fully-electric powertrain beginning later in 2020, for the 2021 model year.

Polestar will launch with a high-performance plug-in hybrid coupe called the Polestar 1 later this year. A “low, aerodynamic,” electric Polestar 3 SUV is expected to follow in 2022 or 2023.

LG Chem looks for location for second US battery factory

With more automakers lining up to buy lots of batteries for electric cars, leading battery supplier LG Chem is planning to build a second battery factory in the U.S., according to a Reuters report citing three people familiar with the matter.

The company is considering sites in Kentucky and Tennessee among other locations.

LG Chem already operates a battery assembly facility in Holland, Michigan, which supplies batteries to GM for the Chevy Bolt EV. The new factory would supply Volvo, Fiat Chrysler, and potentially Hyundai and Volkswagen—plus additional batteries to GM.

LG already supplies batteries to Volkswagen in Europe and has been involved in disputes with the automaker over prices and supplies. Its Korean rival, SK Innovation, is building a new factory in Georgia to supply cells to Volkswagen, for locally produced MEB electric vehicles, and Mercedes-Benz, for its new EQC that is expected to go into production in Alabama next year.

SKI was sued by LG Chem in May, with LG alleging that SKI stole battery trade secrets by hiring several of its former employees, and seeking an injunction against SKI selling the batteries. The court has not yet ruled on the case.

Amid dramatic growth in electric-car production, automakers are starting to face supply shortages and price increases in EV batteries, and the U.S. has put raw materials for lithium batteries on the list of critical materials to develop more domestic production quickly.

Today, only one lithium mine is in operation in the U.S., in northern Nevada. Another has been granted exploratory permits in North Carolina.

On a trip to South Korea last month, President Trump applauded South Korean companies, including SKI, for investing in production in the U.S.

VW and Ford in self-driving and electric car pact

Volkswagen and Ford have said they will work together on developing self-driving and electric cars in an attempt to reduce costs on new technologies. VW plans to invest $2.6bn (£2.1bn) in Ford’s self-driving unit, which is valued at $7bn. The move comes after the duo said in March they would build vans together. The two… Continue reading VW and Ford in self-driving and electric car pact

LG Chem To Build Second Battery Factory In The U.S.

The location could be Kentucky or Tennessee. Production expected from 2022 on. LG Chem is expected to build a second lithium-ion cell plan in the U.S. as the plug-in electric car market expands. The South Korean manufacturer already produces batteries in Michigan, as well as in South Korea, China and Poland. The decision about the… Continue reading LG Chem To Build Second Battery Factory In The U.S.

Luminar Drives Expansion Into Automotive Market With Over $250 Million Total Raised

PALO ALTO, Calif.–(BUSINESS WIRE)–Luminar announced today it is entering the consumer automotive and commercial trucking markets with a sensing and perception platform called Iris, now backed by new major institutional and strategic investors. After three years of stealth development, the company also revealed its perception software built on its LiDAR sensing platform. A recent addition… Continue reading Luminar Drives Expansion Into Automotive Market With Over $250 Million Total Raised

Volvo solves autonomous revenue riddle with package deals

STOCKHOLM (Reuters) – Swedish truckmaker AB Volvo’s first commercial autonomous truck deal shows how it is bundling services to generate revenue from a technology that is years away from wide deployment. FILE PHOTO: A self-driving Volvo electric truck with no cab called Vera is seen during a presentation in Berlin, Germany, September 12, 2018. REUTERS/Emma… Continue reading Volvo solves autonomous revenue riddle with package deals