Tag: Geely Holding
Volvo Cars debuts three-cylinder engine in new XC40 compact SUV
*Image for illustrative purpose
Volvo Cars, the premium carmaker, today launched its new three-cylinder Drive-E powertrain in the XC40, the company's first entry into the compact SUV segment.
The new powertrain is the first three-cylinder engine in the company's 91-year history.
The all-new 1.5 litre, three-cylinder, direct-injection petrol engine was developed in-house using the same modular design as Volvo's four-cylinder Drive-E engines. The three-cylinder powertrain comes with a manual six-speed transmission. An optional automatic eight-speed transmission will follow next year.
In line with Volvo Cars' strategy to continue improving economies of scale, the engine will roll off the same production lines as the company's four-cylinder petrol and diesel engines.
"Our new three-cylinder engine is an exciting development for the XC40 and for Volvo Cars in general," said Alexander Petrofski, senior director cluster 40 at Volvo Cars. "This compact engine design provides the flexibility we need as we introduce more powertrain options for XC40 customers."
Volvo's current D3 150hp diesel and T4 190hp petrol engines are also added to broaden the XC40 engine offer.
Furthermore, the new three-cylinder powertrain has been deliberately designed for integration into Twin Engine plug-in hybrid cars. A hybridised as well as a pure electric powertrain option for the XC40 will be added later.
XC40 customers now also have more choice in trim levels, including base, the launch variants Momentum and R-Design, plus the luxurious new Inscription level.
The Inscription trim offers exterior styling choices with 18", 19" or 20" rims, unique skidplates, side window and grill mesh chrome, plus model-specific car colours. Inside, Inscription adds a newly designed crystal gear knob and the attractive Driftwood deco, which Volvo first introduced in its award-winning XC60 mid-size SUV.
XC40 customers can further express themselves with accessories like the 21" Black Diamond Cut alloy wheels, and the new accessory styling kit that offers brushed stainless steel skidplates and integrated dual tailpipes.
"The new XC40 is a youthful car that suits drivers with a strong sense of individuality," said Alexander Petrofski. "We want our customers to be able to make a statement their way – subtle or otherwise – and so we want to offer them more choices, both in performance and styling."
Note: Items included for each trim level may vary market to market. XC40 customers are advised to check with their local Volvo dealer for market-specific details.
Volvo Car Group in 2017
For the 2017 financial year, Volvo Car Group recorded an operating profit of 14,061 MSEK (11,014 MSEK in 2016). Revenue over the period amounted to 210,912 MSEK (180,902 MSEK). For the full year 2017, global sales reached a record 571,577 cars, an increase of 7.0 per cent versus 2016. The results underline the comprehensive transformation of Volvo Cars' finances and operations in recent years, positioning the company for its next growth phase.
About Volvo Car Group
Volvo has been in operation since 1927. Today, Volvo Cars is one of the most well-known and respected car brands in the world with sales of 571,577 cars in 2017 in about 100 countries. Volvo Cars has been under the ownership of the Zhejiang Geely Holding (Geely Holding) of China since 2010. It formed part of the Swedish Volvo Group until 1999, when the company was bought by Ford Motor Company of the US. In 2010, Volvo Cars was acquired by Geely Holding.
In 2017, Volvo Cars employed on average approximately 38,000 (30,400) full-time employees. Volvo Cars head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars head office for China is located in Shanghai. The company's main car production plants are located in Gothenburg (Sweden), Ghent (Belgium), Chengdu and Daqing (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China) and body components in Olofström (Sweden).
Author Prasanth ChunduriPosted on February 20, 2018 Categories carsTags Geely Holding, new xc40, volvo, Volvo Cars, volvo xc40, xc40Leave a comment on Volvo Cars debuts three-cylinder engine in new XC40 compact SUV
Volvo and Geely to deepen their partnership
Volvo Cars, the premium car maker, is planning to set up a new joint venture technology company with Geely Holding, the Chinese car group, to share existing and future technology, deepen industrial synergies and provide the economies of scale that will allow them to more rapidly develop next generation electrified vehicle technology.
According to a Memorandum of Understanding signed today, Volvo Cars, Geely Auto and LYNK & CO will share vehicle architecture and engine technologies via cross licensing arrangements of technologies managed by the new joint venture. They will also cooperate more deeply by commonly sourcing components and cutting procurement costs.
Volvo Cars, Geely Auto and LYNK & CO are controlled by Geely Holding, the Chinese car group. The new joint venture will be 50/50 owned by Volvo Cars and Geely Holding and be headquartered in China with a subsidiary in Gothenburg, Sweden.
"Partnerships to share know-how and technologies are common practice in the automotive industry. This is the model we are adopting," said Håkan Samuelsson, president and chief executive. "This planned collaboration will strengthen Volvo's ability to develop next generation electrified cars."
Volvo Cars and Geely already share technology, most notably the Compact Modular Architecture (CMA) which is being used by Volvo Cars for its soon-to-be-announced smaller range of 40 series cars and by LYNK & CO.
The intellectual property rights for the technology to be shared will remain with the company that developed it, but the technology itself will be available for use by Volvo, Geely Auto and LYNK & CO, via license agreements.
Future modular vehicle architectures and other technology will be shared and developed based on cost sharing agreements. The company leading the development will own the technology and the other group companies will have full access to it through a license, reducing overall development costs.
It is expected that the collaboration will extend in future to also cover electrified vehicle components such as battery cells, e-motors and charging systems in order to maximize synergies across the group.
Separately, it is also announced today that Volvo is to take a significant minority shareholding in LYNK & CO. This stake reflects the fact that LYNK & CO will benefit from the use of Volvo technology both now and in the future. LYNK & CO will be jointly owned by Geely Holding, Geely Auto and Volvo Cars.
Li Shufu, chairman of Geely Holding said: "We will unlock significant benefits across our portfolio by sharing both technologies and next-generation vehicle architectures. I am confident these synergies can be achieved while preserving the separate identities and strategic autonomy of our different automotive brands."
The above transactions are subject to definitive agreements and relevant authority approvals.
For the 2016 financial year, Volvo Car Group recorded an operating profit of 11,014 MSEK (6,620 MSEK in 2015). Revenue over the period amounted to 180,672 MSEK (164,043 MSEK). For the full year 2016, global sales reached a record 534,332 cars, an increase of 6.2 per cent versus 2015. The record sales and operating profit cleared the way for Volvo Car Group to continue investing in its global transformation plan.
As of December 2016, Volvo Cars had over 31,000 employees worldwide. Volvo Cars head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars head office for China is located in Shanghai. The company's main car production plants are located in Gothenburg (Sweden), Ghent (Belgium), Chengdu and Daqing (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China) and body components in Olofström (Sweden).
About Geely Auto Group
Geely Auto Group is a leading auto manufacturer based in Hangzhou, China. Geely Auto Group consists of two brands, Geely Auto and LYNK & CO.
Geely Auto Group was founded in 1997, and has rapidly grown over the years. The Group is listed on the Hong Kong stock exchange, and saw its sales volume increase to 765,000 units in 2016 with 2017 sales goal set at one million units. In the first five months of 2017, Geely Auto Group sold a combined 441,854 units, an increase of 89% over the same period in 2016 and completing 37% of the groups 2017 sales goal of one million units.
The controlling shareholder in Geely Auto is Zhejiang Geely Holding Group (ZGH), which is also the parent company of Volvo Car Corporation in Sweden and the London Taxi Company.
Via: Volvo Car Group Press Release
Author Prasanth ChunduriPosted on July 20, 2017 July 20, 2017 Categories cars, Hybrid VehiclesTags Geely, Geely Auto, Geely Holding, LYNK & CO, LYNK and CO, mou, volvo, Volvo CarsLeave a comment on Volvo and Geely to deepen their partnership
Volvo Cars' first quarter 2017 operating profit rises 11 per cent to SEK3.5 billion
Volvo Cars, the premium car maker, reported an operating profit of SEK3.5 billion for the first three months of the year, up 11 per cent from SEK3.1 billion during the same period last year. The increase was mainly driven by strong demand for the company's XC60 and 90 series cars.
Volvo Cars reported an operating profit margin of 7.3 per cent, down from 7.5 per cent last year. Profitability was partly offset by costs related to the launch of the new 90 series cars and the new XC60, as well as continuous investments in new technologies and a rising number of employees. Since the first quarter of 2016, Volvo Cars has welcomed almost 5,000 new employees, bringing the total global work force to 33,000.
Global retail sales increased by 7.1 per cent to 129,148 cars in the January to March period, resulting in a first quarter revenue of SEK47.6 billion, up 13 per cent from SEK42.0 billion last year.
"In the first three months we have seen strong demand for our 90 series cars as they reached markets worldwide," said Håkan Samuelsson, president and chief executive. "We also unveiled the new XC60 in the first quarter and we expect this car to have a positive impact on sales and profitability."
In March, Volvo Cars unveiled the new XC60 model at the Geneva motor show, which was received to great acclaim. Later this year, Volvo Cars will launch the XC40, based on the new CMA small vehicle platform, positioning the company for further growth in the fast growing SUV segment.
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The Asia Pacific region reported sales growth of 16 per cent in the first quarter to 32,872 cars, boosted by a strong performance in China, Volvo Cars' largest market. There, sales rose by 18.8 per cent to 23,335 cars, following strong demand for the locally-produced XC60 and S60L models as well as the XC90 and S90.
Sales in the EMEA region increased by 9.2 per cent to 78,820 cars sold, on the back of a strong performance in Sweden, the United Kingdom and Germany. The region continued to see strong demand for the new V90 and XC90 as well as Europe's most popular premium mid-size SUV, the XC60.
The Americas region reported sales of 16,641 cars, of which 13,476 in the United States. The XC90 remained the best-selling model in the Americas.
Author Prasanth ChunduriPosted on April 28, 2017 Categories cars, StatisticsTags Geely Auto, Geely Holding, Håkan Samuelsson, Operating Income, Operating Profit, Volvo Car Group, Volvo Cars, Volvo Earnings, Volvo EBITLeave a comment on Volvo Cars' first quarter 2017 operating profit rises 11 per cent to SEK3.5 billion