Going it alone on new model development is a costly endeavor even for large automotive groups – and practically out of the question for smaller manufacturers.

Volvo until now has built all of its models around the platforms and powertrains from its former owner Ford. Now it is seeking a new partner to jointly develop its next generation of compact models.

Currently owned by Chinese carmaker Geely, Volvo recorded an impressive 20 percent increase in sales last year. Still, with some 450,000 units, it remains a small player in the global automotive industry, thus the need for cost sharing on new model development.

In what could be our final round of spy photos of the upcoming Volvo V40 (or at least those picturing prototypes with heavy camouflage), our diligent spies snapped the five-door hatchback model as it was completing its winter tests on the snow.

Volvo Cars CEO Stefan Jakoby gave us a sneak peek of the new V40 at an interview with Hakan Matson, chairman of the European Car of the Year Jury, on Friday, where he also revealed that the car will be officially introduced at the 2012 Geneva Motor Show next March.

During the interview, Jakoby said that he is "extremely positive" and "really excited" about the V40, which will be positioned against the five-door variants of the Audi A3 and BMW 1-Series as well as the Lexus CT200 h.

We've been following the development of the five-door version of the next generation Volvo C30 for quite some time, and today, the first official teaser image of the compact hatchback found its way onto the web.

There's limited information on the car as Volvo has not yet released an official statement, but the crew over Autoblog.nl reported that Volvo's CEO Stefan Jacoby said that the five-door model will be named V40 (and not V30 as it was rumored) and it will receive its world premiere at the 2012 Geneva Salon next March.

You know that the world is changing when a carmaker like Volvo, once the staple of doctors and soccer moms, which cherished the brand's safe and square (in both meanings of the word) station wagon models, starts engaging in “factory-authorized” tuning for some of its models.

Volvo North America announced that its Sweden-based, long-time tuning partner Polestar, maker of the one-off 405HP AWD C30 and 330HP S60 performance concepts, has developed software upgrades for the 2008MY and later C30, C70 and S40 models equipped with the five-cylinder turbocharged gasoline T5 engine.

Almost every carmaker already has, or is currently developing, at least one electric vehicle in its range. Volvo is part of that group and it has been testing its C30 Electric since autumn of 2010.

In June, the compact all-electric Volvo entered production –albeit at a limited rate, since it will be available for leasing only to a select number of European buyers.

Carscoop commentator Paul tipped us off about a short video he took of a 2014 Volvo V30 prototype that he discovered at a McDonalds parking lot in the Dutch city of Oldenzaal. And yes, it's the same test car we showed you on Wednesday in our scoop pictures.

As a refresher for those of you that missed our previous story, the V30 is the five-door version of the next generation C30. It is expected to launch within the next two years providing the Swedish firm with direct rival to the Audi A3 Sportback and its kind in the premium hatchback category.

Our spies caught up with a five-door prototype version of the next generation C30 in one of the least expected places: a McDonald's parking lot in Amsterdam, Holland. It seems that the Volvo engineers were taking a break, leaving our photographers a small window to take a few shots.

The five-door version of the C30 hatchback will likely carry the V30 nameplate and will go against the likes of the Audi A3 Sportback and the new BMW 1-Series.

Volvo Car Corporation and Siemens, Europe's largest engineering company, will join forces for the development of electric vehicles through an extensive strategic cooperation.

The partnership between the two companies will focus on electric drive technology, power electronics, charging technology and the integration of all those systems in Volvo’s existing C30 Electric project.