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Volvo Still Sells Gas Cars, But It Has No More Combustion Engine Factories

admin — Tue, 19 May 2026 07:29:25 +0000

Volvo’s 2030 EV Goal Suddenly Looks More Real

Volvo’s initial plan to become a fully electric automaker by 2030 once seemed overly ambitious, especially in markets like the United States, where gas-powered SUVs still dominate sales. But comments from Volvo’s chief engineering and technology officer, Anders Bell, suggest the company has already moved much further away from internal combustion than many expected.

Speaking with CarBuzz, Bell revealed that Volvo no longer operates factories dedicated to producing combustion engines.

Bell said combustion engines are “not part of our core technology anymore,” adding that former engine plants have either been sold or converted to produce electric motors. The statement reinforces Volvo’s earlier decision to stop investing in new combustion engine development. Even though the automaker still sells hybrids and gasoline-powered models today, its manufacturing strategy now appears heavily centered around EVs.

Volvo

Volvo Stays Committed Despite Europe’s EV Uncertainty

Volvo’s comments come as several European automakers push for softer emissions rules and adjustments to the European Union’s planned 2035 combustion-engine ban. Slowing EV demand and concerns about charging infrastructure have caused some manufacturers to reconsider how quickly they can transition away from gasoline-powered vehicles.

Volvo, however, seems committed to staying the course. Bell acknowledged that combustion-powered vehicles will remain necessary in the U.S. for the near future, but he said future Volvo hybrids will deliver a more EV-like driving experience. He also confirmed Volvo is willing to rely on outside partners for combustion engine technology rather than restarting internal ICE development programs.

Volvo

The Lowdown

European automakers have increasingly warned regulators that forcing a rapid EV transition could hurt competitiveness. Still, some countries already show how quickly the shift can happen. Norway recently reached roughly 96 percent EV adoption in new-vehicle sales, effectively making gasoline-powered cars a shrinking niche.

Volvo appears convinced that global markets will eventually follow that direction. The company is not only reducing investment in combustion engines but actively restructuring factories and engineering teams around electrification.

That confidence also explains why Volvo leadership has expressed openness to building lower-cost Chinese-developed EVs in the United States if market conditions make sense. While many automakers continue to balance gasoline, hybrid, and EV programs, Volvo increasingly looks like one of the few traditional brands fully committed to an electric future.

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Porsche sells its stake in Bugatti Rimac

admin — Fri, 24 Apr 2026 09:22:47 +0000

Porsche is selling its equity stakes in Bugatti Rimac and Rimac Group to a consortium led by HOF Capital, a New York-based investment firm. The transaction agreement was signed on April 24.

Porsche and Rimac Group established Bugatti Rimac as a joint venture in 2021. Porsche holds a minority stake of 45%, while Rimac Group owns 55%. Porsche also holds a 20.6% stake in Rimac Group.

The German automaker has decided to fully divest its equity stakes in Bugatti Rimac and Rimac Group to the HOF Capital-led consortium. This includes BlueFive Capital as its largest investor, as well as a group of institutional investors across the US and EU.

Rimac Group is set to take control of Bugatti Rimac and form a strategic partnership with HOF Capital and BlueFive Capital to support its continued growth. HOF Capital will additionally join Rimac Group as the largest shareholder alongside Mate Rimac, founder of Rimac and CEO of Bugatti Rimac.

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Porsche Carrera GT in one-off Gulf Blue sells for a record $6.7 million

admin — Mon, 09 Mar 2026 00:21:24 +0000

Porsche Carrera GT values are hovering around the $3-3.5 million mark in 2026. But, when a rare, Paint-to-Sample (PTS) version comes up for sale, you can expect it to sell for a lot more than that.

One of these rare Carrera GTs went under the hammer at Broad Arrow Auctions this weekend. It is not only one of the 19 PTS cars ever produced but also the only Carrera GT finished in Gulf Blue. It’s no surprise that it went for a record $6.7 million.

The Carrera GT looks stunning in the sky blue shade. It is paired with yellow brake calipers. The interior is special too, with Ascot Brown leather upholstery all around. It also comes with a matching luggage set.

Powering the Carrera GT is a glorious 5.7-liter naturally aspirated V10 that puts out 603 hp and 435 lb-ft of torque. It is paired with a 6-speed manual transmission, with power going to the rear axle. This car has just 2,807 miles on the clock.

Another Porsche that has been making headlines this weekend is the Carrera GT Sport Canepa.

Source: Broad Arrow Auctions

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Ferrari Enzo sells for a record $17.9 million at auction

admin — Sun, 18 Jan 2026 16:48:07 +0000

A yellow Ferrari Enzo, part of the Phil Bachman Collection, has just been sold at auction for $17.87 million, destroying all previous auction records.

Prior to this, the most expensive Ferrari Enzo was sold in 2023. It had gone for approximately $6.26 million.

Chassis no. 135262 is painted in Giallo Modena, making it one of just 36 Enzos painted in this shade of yellow. Only 11 of these exist in the US. Inside, it is fitted with the factory custom Rosso and Giallo seats.

This is one of those rare low-mileage Enzos. The odometer reading at the time of sale was 649 miles. However, there are Enzos with delivery miles as well. Two cars are currently on sale at F1rst Motors, Dubai.

That being said, this Enzo is Ferrari Classiche certified with Red Book and has won at several concours events, including Platinum and The Supercar Cup at the 2011 Cavallino Classic.

The Ferrari Enzo is one of the last analogue supercars. It is powered by a 6.0-liter V12 engine that makes 651 hp and 485 lb-ft of torque. It is bolted to a 6-speed automated manual transmission, which drives the rear axle.

Source: Mecum Auctions

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