Before selling the Volvo company to Chinese automaker Geely in 2010 for $1.8 billion. Ford put billions into the Swedish brand known for its decades-long focus on vehicle security. Some Ford bosses undoubtedly lament the decision to sell because the company is now prospering. SUVs like the XC40 are selling in high numbers and the all-electric combination. The XC40 Recharge is a short period back appearing in associations.
Volvo has set resources to become an all-electric brand by 2030. As joining the levels of Jaguar, General Motors, and Ford of Europe. The success is allured Geely to consider a possible blend between it and Volvo, presently this was hindered a month sooner. Thinking about everything, the decision was made to set the affiliations' powertrain rehearses into a lone substance and expand the technical cooperation. There have furthermore been gossipy treats about a Volvo IPO.
As shown by Bloomberg, Geely Holding Group has been discussing a potential plan for an IPO possibly this year. With an ordinary examination of $20 billion, Volvo could serve Geely's drawn-out interests very well as a publicly- traded affiliation. Like various automakers, Geely is searching for ways to deal with oversee support to move to EVs and free driving. Bloomberg points out the company has raised $220 billion, by and large, this year alone from IPOs.
A year sooner, this company sold more than 660,000 pioneer vehicles with China its best market, followed by the US and Europe. There are even plans to meander Polestar, the all-electric brand consistently guaranteed by Volvo and Geely, soon this year too.
This is not the first time a Volvo IPO has been considering. Back in 2018, Geely dropped plans to directly list the Volvo with a $30 billion valuation, after the investors explained they were not interested in the movie. But, things have changed over the latest three years.
The pandemic has pushed automakers to pursue daze at a snappier rate, and Geely winds up having two high-demand brands over the world part stamps under the wings. Why not advantage however much as regular from them financially? Neither this company nor Geely directly responded to the report, regardless we'll without a doubt be hearing more about this subject in the coming weeks.