For the next five years, $11 billion will be spent on Volvo Cars by Zhejiang Geely Holding Group, the parent of Geely Automobile Holdings, according to a report by German magazine Wirtschaftswoche last Thursday. In 2010, Geely acquired Volvo from Ford Motor Co. Li Shufu, president of Geely, told the magazine that Geely will construct a new engine factory, enhance research and development, and give Volvo technology an upgrade.
The magazine also reported that Geely and Volvo will pool the buying of parts. They will also be jointly developing small engines and technologies for electric vehicles. Shufu said that Geely wants Volvo to regain its strength.
For the mass market in China, Geely will develop a new premium brand that uses Volvo technologies. However, this new brand will be moved to soon be a part of Geely Automotive. The report said that Volvo wants its global sales to almost double to 800,000 units by 2020. It also intends to boost Chinese deliveries to around 200,000 by 2014 from 47,000 last year.
The Volvo V40 is an all new sporty five-door hatchback featuring better handling, safety, and fuel efficiency for its class.
An appealing coupé design, inspired by the C30 coupé and classic P1800ES, the V40 is sportier and sleeker than the typical model in its class.
The handling, steering, agility, and ride comfort were all given special attention. The Volvo 40 is believed by its engineers to be the benchmark for the class in dynamic fineness.
Volvo's leading safety reputation was not overlooked. The newly innovated Pedestrian Airbag Technology joins the previous world-first, Pedestrian Detection with Full Auto Brake (first seen in the Volvo S60). Both ensure that the V40 has unrivalled protection for both pedestrians and the car's occupants.
The new Pedestrian Airbag, making its world debut in the V40, inflates from under the bonnet’s rear edge when the car detects a pedestrian hit. The unfortunate pedestrian is better cushioned by the raised bonnet, and the pedestrian’s head is protected by the airbag from the hard points at the base of the windscreen and the lower A-pillars.
Pedestrians account for 14% of traffic fatalities in Europe and 25% in China.
City Safety, first seen as an innovation in the XC60 for avoiding noise-to-tail accidents in cities, has seen further improvements for the V40, now working at up to 50 km/h (31 mph), instead of 30 km/h (19 mph). Insurance claims involving the XC60s illustrate that City Safety has reduced personal injury claims by 51% and vehicle repair costs by more than 20%. It is easy to believe that most insurance companies offer reduced premiums for Volvo drivers.