Is this old news already? Just saw a news post.
Volvo wants to unload most of its 48% stake in Polestar, selling them to parent Geely. Geely wants to reduce financial pressure on Volvo. Volvo and Polestar face an EV ramp-up in demand that has not materialized as hoped. "The Volvo EX90 EV has been plagued with software issues and delays."
Bloomberg reported:
"Geely, owned by Chinese billionaire Li Shufu, said it’ll fully support Polestar as an independent brand, which won’t affect its 79% holding in Volvo Cars. The Swedish manufacturer, which owns a 48% stake in Polestar, will continue to cooperate with the EV maker across key business areas, including development and manufacturing, it said Thursday."
"As the two companies drift further apart, it’s hoped they can each find their footing in the EV landscape. Volvo boss Jim Rowan said that while his company will remain a shareholder in Polestar, the offloading will help Volvo invest in its own EV future and would “allow Polestar to go and get funding from other sources,” Bloomberg reports."
Volvo wants out of Polestar
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volvolugnut
- Posts: 6233
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OK, so what do you think the future holds for EV's? Why has the trend changed so much in the last year?
volvolugnut
volvolugnut
The Fleet:
Volvo: 2001 V70 T5, 1986 244DL, 1983 245DL, 1975 245DL, 1959 PV544, multiple Volvo parts cars.
Mercedes: 2001 E320, 1973 280, 1974 280C, 1989 300E, 1988 300TE, 1979 300TD, parts cars.
2009 Smart Passion
Ford: 1977 F350, 1964 F150 (2), 1938 Tudor Sedan
Farmall tractors: 1956 400 Diesel, 1946 A
And others.
Volvo: 2001 V70 T5, 1986 244DL, 1983 245DL, 1975 245DL, 1959 PV544, multiple Volvo parts cars.
Mercedes: 2001 E320, 1973 280, 1974 280C, 1989 300E, 1988 300TE, 1979 300TD, parts cars.
2009 Smart Passion
Ford: 1977 F350, 1964 F150 (2), 1938 Tudor Sedan
Farmall tractors: 1956 400 Diesel, 1946 A
And others.
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BlackBart
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My gut tells me the manufacturers marketed the hell out of them, made them seem attractive, the "new" factor gave them a boost, the tax incentives were attractive, and then that initial group of people who wanted them all have one now. Everyone else is either not really ready for them, or are waiting to see what happens.
If you don't have the money for the high range offerings, it's essentially an extra car because it won't go far enough for long trips without complications or inconvenience.
The tech is going to evolve and improve. More volume should bring prices down. I think we're still on the early adopter curve.
If you don't have the money for the high range offerings, it's essentially an extra car because it won't go far enough for long trips without complications or inconvenience.
The tech is going to evolve and improve. More volume should bring prices down. I think we're still on the early adopter curve.
ex-1984 245T wagon
1994 850T5 wagon
2004 XC70 wagon BlackBetty
1994 850T5 wagon
2004 XC70 wagon BlackBetty
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Sveedy
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Trying to operate EV's of the 21st century, off of a grid that still relies on stringing wires from wooden pole to wooden pole a-la 19th century, seems like a fools errand. Couple that with only a couple of battery recycling plants in the country, and it does seem like we're getting a little too far out over our skis.
Try to learn life's bad lessons vicariously through others.
1996 850 Turbo GLH ( Goes Like Hell )
1999 V70 GLT
1996 850 Turbo GLH ( Goes Like Hell )
1999 V70 GLT
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scot850
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There are many issues affecting the practicality of EV vehicles. A standard charging method would be hugely helpful for starters.
The lack of infrastructure is another issue as mentioned. Think how many years it took to get all those gas stations out there? 125+ years or so? We are trying to fix that issue in what 10 years?
An economist and physics advisor has estimated to have any chance of getting EV's only for 2035 would require over 400 new mines to produce the materials required for manufacture and battery making. Well that would be great for Mother Earth for sure. Then there is the matter of having all the manufacturing capacity to make all that stuff.
The joke for those of us in Alberta Canada is that today we had an alert for power shortages. So if we can't supply power for the way we are today, how do we manage power for all the EV's unless we try to find a way to subsidize solar panel installs and some way to store the power? In our northern climes, winter is a problem with solar panels and wind turbines when it gets cold and snowy. Friends with solar panels say realistically 8 months a year they get useful power form the panels. You are only allowed to generate 10% more power than you regularly use. So if you fitted panels before the purchase of an EV you will then have to add extra capacity.
Don't get me started on the huge loss in battery capacity once you drop below 0C, let alone to -30C and below. For running around town I would happily have a small electric vehicle. Even in winter that may be ok to get around the city (hopefully).
Then you get into the cost of repairing EV's if they get into accidents. I read in the UK some of the major insurance companies are refusing to insure EV's. There is the spontaneous combustion issues in garages and parking lots, needing to guarantee the battery packs after an accident requiring pack replacements. You still have the physical damage to repair like an ICE vehicle.
It may sound like I am anti-EV, but I am not, but we have a lot of issues to address. The ownership issues of owning an EV is also coming into view now more often. Good old Tesla have been fairly successful, but how profitable has it been with all the late production deliveries and plummeting values.
If you have or are planning to buy an EV I wish you good luck. Would I trust it as my only form of transport. No.
Neil.
The lack of infrastructure is another issue as mentioned. Think how many years it took to get all those gas stations out there? 125+ years or so? We are trying to fix that issue in what 10 years?
An economist and physics advisor has estimated to have any chance of getting EV's only for 2035 would require over 400 new mines to produce the materials required for manufacture and battery making. Well that would be great for Mother Earth for sure. Then there is the matter of having all the manufacturing capacity to make all that stuff.
The joke for those of us in Alberta Canada is that today we had an alert for power shortages. So if we can't supply power for the way we are today, how do we manage power for all the EV's unless we try to find a way to subsidize solar panel installs and some way to store the power? In our northern climes, winter is a problem with solar panels and wind turbines when it gets cold and snowy. Friends with solar panels say realistically 8 months a year they get useful power form the panels. You are only allowed to generate 10% more power than you regularly use. So if you fitted panels before the purchase of an EV you will then have to add extra capacity.
Don't get me started on the huge loss in battery capacity once you drop below 0C, let alone to -30C and below. For running around town I would happily have a small electric vehicle. Even in winter that may be ok to get around the city (hopefully).
Then you get into the cost of repairing EV's if they get into accidents. I read in the UK some of the major insurance companies are refusing to insure EV's. There is the spontaneous combustion issues in garages and parking lots, needing to guarantee the battery packs after an accident requiring pack replacements. You still have the physical damage to repair like an ICE vehicle.
It may sound like I am anti-EV, but I am not, but we have a lot of issues to address. The ownership issues of owning an EV is also coming into view now more often. Good old Tesla have been fairly successful, but how profitable has it been with all the late production deliveries and plummeting values.
If you have or are planning to buy an EV I wish you good luck. Would I trust it as my only form of transport. No.
Neil.
2006 V70 2.5T AWD Polestar tune
2000 V70 R - still being an endless PITA
2006 XC70 - Our son now has this and still parked in our garage
2003 Toyota 4Runner V8 Limited
2015 Kia Sportage EX-L - Sold
1993 850 GLT -Sold
1998 V70 XC - Sold
1997 Volvo 850 SE NA - Went to niece in California - Sold
2000 V70 SE NA - Sold
2000 V70 R - still being an endless PITA
2006 XC70 - Our son now has this and still parked in our garage
2003 Toyota 4Runner V8 Limited
2015 Kia Sportage EX-L - Sold
1993 850 GLT -Sold
1998 V70 XC - Sold
1997 Volvo 850 SE NA - Went to niece in California - Sold
2000 V70 SE NA - Sold
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jimmy57
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I'm in for early adopter take on this. EV's are in Beta VHS phase as to battery tech. When (I think it is no longer in "if" territory) solid state battery tech with life issue becoming a non-issue and charge times of under 10 minutes then EV's become as normal as ICE vehicles. Fuel stations will have chargers standing next to fuel pump and large sodas and a pee break are as long as you need to charge same as fueling time. Maybe by then Exxon Mobil and others will no longer push the EVs are tantamount to pedophilia narratives and freedom to choose your vehicle will really be true.