Volvo Reveals XC70 PHEV, a Potential New U.S. Model
Volvo has revealed the XC70 mid-size SUV, which the brand is touting as its first "extended-range plug-in hybrid," and it'll go on sale in China later this year.
The XC70 has an estimated pure-EV range of 124 miles on China's CLTC standard, though if it comes to the U.S., we expect the EPA figure would be lower.
It's possible that the XC70 is the PHEV Volvo's CEO hinted at in a recent Automotive News report about the brand adding hybrid production to the U.S.
Volvo has revealed the XC70, a new mid-size plug-in hybrid SUV that earns a massive pure-EV range estimate, at least for China. The XC70 is built on Volvo's new Scalable Modular Architecture (SMA) platform, which is designed specifically to accommodate extended-range plug-in hybrid models.
Volvo
According to Volvo, the new model earns a pure-EV range estimate of 124 miles on the optimistic CLTC standard, though EPA estimates are typically lower. The automaker confirmed that the XC70 will go on sale in China later this year, though it is considering expanding to other markets. Car and Driver reached out to Volvo for confirmation of the new model coming here and will update this article when we receive a response.
A High-Volume Hybrid as a Tariff Response
Even without a confirmation, the XC70 could be a silver bullet for Volvo. As automakers continue looking for respite from the Trump administration's tariffs, many are eyeing potential production changes. In the case of Volvo, CEO Håkan Samuelsson has said he wants to increase production at the automaker's Ridgeville, South Carolina, facility, according to a report by Automotive News.
Volvo
Specifically, Samuelsson wants the automaker to add production of a high-volume hybrid to the facility. "It has to be a car with mild-hybrid and plug-in versions to really bring up the volumes," the CEO told AN Europe.
ADVERTISEMENT
Advertisement
While Samuelsson hinted that it could be either the XC60 Hybrid or the XC90 Hybrid, that interview happened before Volvo drew back the curtain on the XC70. "A wagon or a sedan is not very likely. I think if you look at what the bestsellers are in the U.S., they are often some kind of SUV," Samuelsson said.
Volvo
That said, the existing XC60 and XC90 models are just as likely to make the move over to the South Carolina facility. The Ridgeville plant was home to the S60 mid-size sedan until production of that model ended last year. Now, the plant is focused solely on the production of Volvo's EX90 electric SUV, but it still has the tooling required for cars built on the S60's SPA platform, which happens to underpin both the XC60 and XC90.
Samuelsson told AN that he plans to travel to the U.S. soon to speak with dealers about which vehicle makes the most sense to add. Total sales for the two models were neck and neck in 2024, with the XC90 accounting for around 500 more sales in the U.S. than the XC60.
You Might Also Like
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
26 minutes ago
- Yahoo
Fortinet (FTNT) Launches New AI-Powered Workspace Security Suite and Powerful FortiDLP Upgrades
We recently published a list of . In this article, we are going to take a look at where Fortinet, Inc. (NASDAQ:FTNT) stands against other buzzing AI stocks on latest news and ratings. On June 4th, Fortinet, Inc. (NASDAQ:FTNT) announced a new AI-powered Workspace Security Suite, the FortiMail Workspace Security, along with powerful FortiDLP upgrades, aiming to better protect modern businesses. The new capabilities allow FortiMail to be recognized as one of the broadest and most customizable email security platforms, protecting beyond email to incorporate browser and collaboration security. Together with new features in FortiDLP, Fortinet's next-generation data loss prevention (DLP) and insider risk management solution, users will be able to avail a unified, AI-powered approach to safeguarding users and sensitive data across today's dynamic work environments. A close-up of a user authenticating into a secure network using a two-factor authentication process. By integrating artificial intelligence with integrated email, browser, collaboration, and data security, the company aims to offer better protection for security teams so that they can turn complexity into clarity and threats into easier tasks handled. 'In today's evolving threat landscape, securing user productivity and sensitive data requires a unified strategy that considers both outsider threats and insider risks. Cybercriminals are aiming their efforts right at users and increasingly leveraging tools like FraudGPT, BlackmailerV3, and ElevenLabs to automate the creation of malware, deepfake videos, phishing websites, and synthetic voices—making attacks more scalable, convincing, and difficult to detect. With our expanded AI-powered FortiMail Workspace Security suite and FortiDLP solutions, Fortinet empowers organizations to stay ahead of threat actors and insider risks while ensuring users, data, and productivity remain secure.' Fortinet, Inc. (NASDAQ:FTNT), a cybersecurity company, provides enterprise-level next-generation firewalls and network security solutions, leveraging artificial intelligence across its cybersecurity products. Overall, FTNT ranks 9th on our list of buzzing AI stocks on latest news and ratings. While we acknowledge the potential of FTNT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
29 minutes ago
- Yahoo
Exclusive-China issues rare earth licenses to suppliers of top 3 US automakers, sources say
By Laurie Chen and David Shepardson BEIJING/WASHINGTON (Reuters) -China has granted temporary export licenses to rare-earth suppliers of the top three U.S. automakers, two sources familiar with the matter said, as supply chain disruptions begin to surface from Beijing's export curbs on those materials. At least some of the licenses are valid for six months, the two sources said, declining to be named because the information is not public. It was not immediately clear what quantity or items are covered by the approval or whether the move signals China is preparing to ease the rare-earths licensing process, which industry groups say is cumbersome and has created a supply bottleneck. China's decision in April to restrict exports of a wide range of rare earths and related magnets has tripped up the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world. China's dominance of the critical mineral industry, key to the green energy transition, is increasingly viewed as a key point of leverage for Beijing in its trade war with U.S. President Donald Trump. China produces around 90% of the world's rare earths, and auto industry representatives have warned of increasing threats to production due to their dependency on it for those parts. Suppliers of three big U.S. automakers, General Motors,, Ford and Jeep-maker Stellantis got clearance for some rare earth export licenses on Monday, one of the two sources said. GM and Ford each declined to comment. Stellantis said it is working with suppliers "to ensure an efficient licensing process" and that so far the company has been able to "address immediate production concerns without major disruptions." China's Ministry of Commerce did not immediately respond to a faxed request for comment. China's critical-mineral export controls have become a focus on Trump's criticism of Beijing, which he says has violated the truce reached last month to roll back tariffs and trade restrictions. On Thursday, Trump and Chinese President Xi Jinping had a lengthy phone call to iron out trade differences. Trump said in social-media post that "there should no longer be any questions respecting the complexity of Rare Earth products." Both sides said teams will meet again soon. U.S. auto companies are already feeling the impact of the restrictions. Ford shut down production of its Explorer SUV at its Chicago plant for a week in May because of a rare-earth shortage, the company said. The approval for the auto suppliers follows a green light granted to a U.S. electronics firm's suppliers last week and another one issued earlier this week to suppliers of a U.S. non-auto company, the first person said, declining to name the companies. "We have to give the Chinese the benefit of the doubt that they're working through this. It's up to them to show that they are not weaponizing it," said the person. Reuters reported on Wednesday that China has introduced a tracking system for its rare earth magnet sector in a move to improve its control over the sector and crackdown on smuggling. Sign in to access your portfolio
Yahoo
29 minutes ago
- Yahoo
Billion-dollar battery plant pauses construction amid electric vehicle and tariff uncertainty
COLUMBIA, S.C. (AP) — A Japanese company has halted construction on a $1.6 billion factory in South Carolina to help make batteries for electric BMWs, citing 'policy and market uncertainty.' While AESC didn't specify what those problems are, South Carolina's Republican governor said the company is dealing with the potential loss of federal tax breaks for electric vehicle buyers and incentives for EV businesses as well as tariff uncertainties from President Donald Trump's administration. 'What we're doing is urging caution — let things play out because all of the these changes are taking place,' Gov. Henry McMaster said. AESC announced the suspension in construction of its plant in Florence on Thursday, 'Due to policy and market uncertainty, we are pausing construction at our South Carolina facility at this time," the company's statement said. AESC promised to restart construction, although it didn't say when, and vowed to meet its commitment to hire 1,600 workers and invest $1.6 billion. The company said it has already invested $1 billion in the Florence plant. The battery maker based in Japan also has facilities in China, the United Kingdom, France, Spain and Germany. In the U.S., AESC has a plant in Tennessee and is building one in Kentucky. The statement didn't mention any changes with other plants. The South Carolina plant is supposed to sell battery cells to BMW, which is building its own battery assembly site near its giant auto plant in Greer. BMW said the construction pause by AESC doesn't change its plans to open its plant in 2026. AESC has already rolled back its South Carolina plans. They announced a second factory on the Florence site, but then said earlier this year that their first plant should be able to handle BMW's demand. That prompted South Carolina officials to withdraw $111 million in help they planned to provide. The company is still getting $135 million in grants from the South Carolina Department of Commerce and $121 million in bonds and the agency said a construction pause won't prompt them to claw back that offer. South Carolina is investing heavily in electric vehicles. Volkswagen-owned Scout Motors plans to invest more than $4 billion and hire 10,000 people for a plant to build its new electric SUVs scheduled to open in 2027. The state has for decades made big bets on foreign manufacturers like BMW, Michelin and Samsung that have paid off with an economic boom this century, but there is uneasiness that Trump's flirtation with high tariffs might stagger or even ruin those important partnerships. McMaster told people to relax as state and business leaders are talking to Trump's administration and things will work out. 'I think the goal of the president and the administration is to have robust economic growth and prosperity and there is no doubt there has to be changes made in our international trade posture and President Trump is addressing that,' McMaster told reporters Thursday.
