Connect with us

Published

on

In this article

A Volvo C40 Recharge photographed in Stockholm, Sweden, on March 2, 2021.
CLAUDIO BRESCIANI | AFP | Getty Images

The CEO of Volvo Cars has told CNBC that the automaker’s shift to electric vehicles is the reason behind its planned listing on the Nasdaq Stockholm stock exchange.

The company wants to raise 25 billion Swedish krona, or $2.9 billion, via the initial public offering, which will be one of the biggest in Europe this year.

In an interview with CNBC’s Julianna Tatelbaum Monday, Hakan Samuelsson was asked why the company was going public now.

“We have a very big interest from investors to invest into EV companies, you see that growing all the time,” he said. “We have said 2030 is our end date for [the] ICE [Internal combustion engine] engine and we of course want to secure that transformation.”

Samuelsson explained that the shift to electric vehicles was “not free of charge.”

“That’s why we are now talking about [the] primary issuing of new shares in around 3 billion U.S. dollars … And that is really to have the financial resources to secure this transformation in the next five, six years. That’s really … the reason for our ‘intention to float’ message,” he added.

In March, Volvo Cars — which is headquartered in Sweden but owned by China’s Zhejiang Geely Holding Group — said it planned to become a “fully electric car company” by the year 2030.

“There is no long-term future for cars with an internal combustion engine,” Henrik Green, Volvo Cars’ chief technology officer, said at the time. “We are firmly committed to becoming an electric-only car maker and the transition should happen by 2030.”

Volvo Cars is one of a number of automakers looking to make the transition to fully electric vehicles. In July, Germany’s Daimler said its Mercedes-Benz brand would “be ready to go all electric at the end of the decade, where market conditions allow.”

In February, Ford said its entire passenger vehicle range in Europe would be “zero-emissions capable, all-electric or plug-in hybrid” by the middle of 2026, with a “completely all-electric” offering by 2030.

This transition comes as major economies also lay out plans to move away from the internal combustion engine.

The U.K., for example, wants to develop a net-zero transport sector by 2050, stopping the sale of new diesel and petrol cars and vans by 2030. It will require, from 2035, all new cars and vans to have zero tailpipe emissions.

Elsewhere, the European Commission, the EU’s executive arm, is targeting a 100% reduction in CO2 emissions from cars and vans by 2035.

Chip challenges

All the above changes are taking place while global car manufacturers continue to battle the impact of a global semiconductor shortage.

On Tuesday, figures released by the Society of Motor Manufacturers and Traders showed that 215,312 cars were registered in the U.K. during September 2021. This represents a decline of 34.4% compared to the same month in 2020, with the SMMT describing it as the “weakest September since 1998.”

In a statement, the industry body said the “ongoing shortage of semiconductors” had impacted vehicle availability. 

The SMMT also noted, however, that “September was the best month ever for new battery electric vehicle (BEV) uptake.”

“With a market share of 15.2%, 32,721 BEVs joined the road in the month, reflecting the wide range of models now available and growing consumer appetite,” the SMMT said.  The best-selling car for the U.K. market in September 2021 was the Tesla Model 3.

Continue Reading

Environment

Volvo Penta teams up with e-power to equip Boels with next-gen Battery Energy Storage Systems (BESS)

Published

on

By

Volvo Penta teams up with e-power to equip Boels with next-gen Battery Energy Storage Systems (BESS)

Veteran marine and industrial power solutions company Volvo Penta has joined forces with energy solutions provider e-power to build battery energy storage systems (BESS). Volvo Penta’s battery systems for energy storage will power BESS units built by e-power that can be catered to a range of applications, most notably construction rental clients like Boels Rentals in Europe.

Volvo Penta is a provider of sustainable power solutions that currently serves land and sea applications under the Volvo Group umbrella. As more and more of the world goes all-electric, the global manufacturer has also adapted, sharing cultural values with Volvo Group to engineer new and innovative sustainable power solutions.

Nearly 100 years later, Volvo Penta remains an industry leader in marine propulsion systems and industrial engines. As more and more of the world goes all-electric, the Swedish manufacturer has also adapted, sharing cultural values with Volvo Group to engineer new and innovative sustainable power solutions.

For example, all Volvo Penta diesel engines now run on hydro-treated vegetable oil (HVO), reducing well-to-wheel emissions by up to 90% across the marine and industrial power industries. On the zero-emissions side, Volvo Penta has expressed its dedication to fossil-free power solutions, including battery electric components to serve heavy-duty applications such as terminal tractors, forklifts, drill rigs, and feed mixers, to name a few.

Advertisement – scroll for more content

To leverage its battery electric value chain, Volvo Penta has also ventured into battery systems for energy storage (or BESS subsystems). These energy-dense, purpose-built BESS subsystems can provide portable, sustainable energy for all-electric charging and reduce grid dependency.

Volvo battery
Source: Volvo Penta

Volvo Penta to deploy battery systems for energy storage

Volvo Penta recently announced a strategic partnership with e-power, a Belgian power solutions provider. Together, Volvo Penta and e-power will develop a scalable Battery Energy Storage System (BESS) for Boels Rental.

The collaboration continues a long-standing partnership between all three companies. Boels – one of the largest construction rental companies is a long-time customer of e-power generators that utilize Volvo Penta engines. As the company shifts toward electrification and sustainability, it will again turn to those companies to deliver reliable performance.

Volvo Penta’s BESS subsystem comprises battery packs, a Battery Management System (BMS), DC/DC converters, and thermal management, combining to offer a compact, high-density, and transport-friendly solution optimized for rental operations. The company shared that this BESS design is integration-ready, enabling other OEMs like e-power to adapt and scale systems to customer-specific needs. Per e-power business support director, Jens Fets:

We’ve built our reputation on reliability and efficient power systems. Working again with Volvo Penta, this time on battery energy storage, allows us to meet the growing demand for energy in a silent, low-emissions, compact and mobile design—especially in rental applications.

The deployment of these new battery energy storage systems will help Boels cater to its customers’ growing demand for clean, silent, and mobile energy solutions in construction and other industrial applications. 

Aside from being more quickly adaptable to customer needs, Volvo Penta says its BESS architecture marks an overall shift in rental power systems. This is welcome news for all who support a cleaner, more sustainable future across all industries.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

2026 Mercedes-Benz GLC EV exterior leaks ahead of schedule

Published

on

By

2026 Mercedes-Benz GLC EV exterior leaks ahead of schedule

That didn’t take long! Just a few hours after Mercedes revealed the screen-heavy interior of its upcoming 2026 GLC EV, photos of the new crossover’s exterior – and that controversial grille! – leaked on Instagram and Reddit. We’ve got them here.

Two days ahead of the GLC EV’s officially schedule global debut, images that reportedly show the new 2026 Mercedes undisguised have leaked on Instagram and Reddit. They show the blocky new light-up grille on the nose of a very smooth, jellybean-like crossover shape that, despite Mercedes’ insistence that it’s moving away from the EQ series’ design language, looks an awful lot like an EQ Mercedes.

Check out the leaked images from kindleauto’s Instagram account, below, and see if you agree with that assessment.

If you need to see more before you feel comfortable commenting on the new SUV’s looks, there’s a few more angles over on the r/mercedes_benz subreddit.

Advertisement – scroll for more content

Leaked exterior pictures of the upcoming GLC EV
byu/Quick_Coyote_7649 inmercedes_benz

As with everything else on the internet, take those unofficial images with a grain of salt and maybe wait until the GLC EV’s official reveal in a few days’ time before casting your final vote on the new look – but there’s very little reason to believe the new Mercedes will look terribly different from what you see here.

Will the new grille and tech-forward interior with its massive, 39″ screen and MB.OS software be enough to turn the tide for Mercedes-Benz, enabling it to finally gain some traction in the electric crossover market? That remains to be seen, but the recently updated Tesla Model Y and crisply-styled new BMW iX3 with its 500 miles of range will make it an uphill battle, for sure.

We got a sneak peek at the new GLC back in July, when Mercedes-Benz Group CEO, Ola Källenius said that, “We’re not just introducing a new model – we’re electrifying our top seller.” Back then, we learned that the new GLC EV would have a wheelbase 3.1″ longer than the current ICE-powered model, as well as more head- and leg-room for its occupants and an extra 4.5 cubic feet (for 61.4 total) of cargo space.

Källenius also promised an innovative new 800V electric architecture and the latest battery tech, which will enable the electric GLC to add around 260 km (~160 miles) of WLTP range in just ten minutes thanks to more than 300 kW of charging capability.

SOURCES | IMAGES: kindleauto; Quick_Coyote_7649.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

E-quipment highlight: John Deere TE 4×2 Electric Gator UTV

Published

on

By

E-quipment highlight: John Deere TE 4x2 Electric Gator UTV

For more than 30 years, John Deere’s go-anywhere Gator has been a trusted tool for ranchers, landscapers, and hobby farmers. But the all-electric TE 4×2 version of Big Green’s little truckster rarely gets to steal the spotlight from its ICE-powered 6×4 cousins.

We’re going to change that.

Unlike some of those other UTV brands that just recently entered the electric vehicle game, John Deere introduced its first all-electric Gator way back in 1998.

That OG E-Gator was designed from the ground up for quiet work in places like golf courses, university and hospital campuses, luxury resorts, and corporate grounds – but its go-anywhere design and quiet running made it a favorite of hunters and ranchers, too. Fitted with eight heavy, 12V lead-acid batteries, the ’98 Gator could deliver 6 hours of runtime between overnight charges.

Advertisement – scroll for more content

We haven’t come a long way, baby


TE 4×2 loaded w/ attachments; via John Deere.

If it ain’t broke, don’t fix it. That seems to be the mentality at Deere when it comes to the all-electric Gator. The TE 4×2 hasn’t chased trends or tried to reinvent itself with flashy autonomous tech. Instead, it’s relied solid, work-horsey reasons. Instead, the UTV has leaned on the formula that’s made it a winner for more than 25 years: bulletproof reliability, low maintenance, and a design that just works. Even the added weight of the low-tech batteries compared to more energy-dense li-ion deals makes sense in this application, providing weight over the drive wheels that delivers sure-footed traction on slippery grass or muddy trails.

That’s not to say the Gator hasn’t changed at all over the last few decades. The electrical system has been upgraded to 48V, and its high-capacity, deep-cycle batteries (12 kWh total capacity) give the TE 4×2 dependable, all-day runtime (up to 8 continuous hours) with the benefit of modern chargers, regenerative braking (!), and updated safety features.

The TE 4×2 electric Gator is available from your local Deere dealer with prices starting at $15,699. And, if you’re looking for an endorsement: my personal Gator is easily my favorite thing … maybe I should try to change my Twitter X handle to “GatorJo”?

Let me know what you think of that idea in the comments.

SOURCE | IMAGES: John Deere.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending