emfizz.com June 23, 2017

Volvo Says That They Will Stop Making Diesel Engines, Thanks to Tesla

19 May 2017, 08:59 | Patty Hardy

Hakan Samuelsson CEO of Volvo Car Group in Detroit Michigan U.S

Hakan Samuelsson CEO of Volvo Car Group in Detroit Michigan U.S

"We have just launched a brand-new generation of petrol and diesel engines, highlighting our commitment to this technology", Samuelsson told Reuters in a statement.

In what is a rather unsurprising move by one of the most health-and-safety-centric carmaker, Volvo Cars CEO Hakan Samuelsson has said that the company will no longer invest in developing new diesel engines.

"From today's perspective, we will not develop any more new generation diesel engines", Samuelsson told German's Frankfurter Allgemeine Zeitung in an interview. In markets with strict emission norms like the USA and Europe, the cost of reducing nitrogen oxide emissions will eventually push diesel vehicle prices by a huge market making them unattractive. "As a result, a decision on the development of a new generation of diesel engines is not required", he said.

Samuelsson said that in view of Tesla's success in the electric vehicle segment, Volvo should be able to come up with worthy contenders in the electric auto category which offer customers high quality and attractive design. Volvo introduced new-generation diesel engines in 2013 and is planning to use these powerplants till 2023.

Explaining the mechanics of the Trump-Russia special counsel
The history of partisanship in recent congressional investigations is simply too great - up to and including Rep. Comey was then fired by Trump as the investigation continued.

Twitter is down for some users
Website users have been disproportionately affected while fewer reports of issues have been submitted for the mobile application. Through its support handle, it posted a tweet saying some users are facing problems accessing Twitter and Tweeting.

Mourinho: Price tag on Man Utd midfielder Pogba 'unfair'
If I go, for example, to Rostov, the way he played in Rostov was awesome . "He had very good matches, very good matches". I hope next summer he's not anymore the highest transfer fee and then the pressure goes to somebody else.

Samuelsson had earlier said that eventually the higher cost of complying with tighter emissions rules will increase the price of diesel cars to the point where plug-in hybrids will become an attractive alternative.

Some 90 percent of XC90s sold in Europe are diesels, but that sounds like it's going to change in the future.

While Europe is still very much a diesel auto market - diesel cars make up over 50 percent of the continent's passenger fleet - impending regulations and the growing popularity of electric cars could bring about diesel's demise earlier than expected.

Other News

Trending Now

Amitabh at 102 not out, Rishi at 75 in this film
Amar, Akbar, Anthony, Kabhie Kabhie , Naseeb and Coolie are just a few of the films that Amitabh and Rishi have done together. It seems like Mr Bachchan's character is a fun loving person whereas Rishi Kapoor's character is more of an uptight one.

Firefighter dead after strip mall fire
The firefighter that was killed in the blaze has been identified as Scott Deem, a six year veteran of the department. Their conditions were not released by the hospitals, but Hood said both were expected to be OK.

Better hope there are no 'tapes' of talks
They can make recommendations, but the president will ultimately make the hiring decision. John Cornyn of Texas, the No. 2 Senate leader and a former Texas attorney general.

Sell-Side Analyst's Predictions: Fitbit, Inc. (FIT), Kate Spade & Company (KATE)
The company's current price-earnings ratio amounts to 16.78 times earnings, below the average P/E ratio of 106.05 times earnings. Finally, California State Teachers Retirement System raised its stake in shares of Kate Spade & Co by 0.8% in the third quarter.

Microsoft says cyber attack should be wake up call for governments
More information on the malware itself is available from the Microsoft Malware Protection Center on the Windows Security blog . By now, most of the world is aware of the ransomware attack that spread like wildfire through global computer systems.

Fox News Fires Bob Beckel Over Alleged Racist Remark
When the IT worker filed a complaint, Beckel attempted to intimidate him to withdraw it, Wigdor and Christensen said. This is the second time Fox News has terminated Beckel, who was the co-host of its primetime program, " The Five ".

Philippines bans smoking in public places, Twitter reacts with joy
The Executive Order on banning smoking nationwide will be implemented 60 days after publication in newspapers nationwide. The EO is titled "Providing for the establishment of smoke-free environments in public and enclosed places".

'No. No. Next question': Trump's terse Federal Bureau of Investigation denial
Despite his gaffes, Donald Trump insists the media are to blame for the mounting crisis consuming the White House. Jason Chaffetz of Utah who chairs the House Oversight Committee.

Trump administration formally announces intent to renegotiate NAFTA
Freeland said Thursday that Ottawa has been anticipating the notice for a long time and is ready for NAFTA talks. The president has vowed to negotiate a better NAFTA _ or to walk away from the agreement if he can't get one.

Analysts Take on American Airlines Gp (NASDAQ:AAL)
ILLEGAL ACTIVITY NOTICE: This piece was originally reported by Transcript Daily and is owned by of Transcript Daily. The Company operates through American segment, which provides air transportation for passengers and cargo.