Just how much does it take to revive an iconic premium brand? How does $11 billion sound? That's what Volvo's Chinese owners are spending to give the Swedish company one more shot to make it as a global carmaker.
It's ambitious, but Volvo is spending money on core products built on qualities that have made the brand successful in the past.
It's a make-or-break proposition. Volvo must get it right, as even deep-pocketed parent company Zhejiang Geely Holding Corp. has limits. The money will fund a product blitz with fresh yet authentic Swedish design, improved technology, new engines and, as always, a focus on safety. It's ambitious, but Volvo is spending money on core products built on qualities that have made the brand successful in the past.
The 2015 XC90 will be the first vehicle to roll off the assembly line as a result of these efforts. As our Noah Joseph reported from the reveal in Sweden this week, the crossover embodies all of Volvo's aspirations. It's based on the company's Scalable Product Architecture that will be used for all of the company's models in North America. It draws power from the Drive-E engine series, including a 2.0-liter four-cylinder that makes 316 horsepower thanks to turbocharging and supercharging, and a plug-in hybrid variant that also uses both forced-induction systems to pump out 400 hp.