Continuing to serve as a sub-brand of Chinese Geely, Sweden-based Volvo enters the NASDAQ Stockholm stock exchange. The company plans to raise $2.9 billion with this IPO move.
Volvo, based in Sweden but currently a sub-brand of Chinese Geely, will be offered to the public via the NASDAQ Stockholm stock exchange. Thanks to this supply, the company It plans to raise $2.9 billion.
Volvo, which has been working on its IPO plans since 2018, made the following statement about this development:Volvo Cars’ unique structure and focused strategy; electrification, sustainability and their passion for digitization believes that his help has made it one of the fastest transforming companies in the global automotive industry.“
Volvo will transition to fully electric cars before 2030:
The massive cash flow comes at a critical time for Volvo as it moves towards an all-electric future. All of the company’s vehicles will be electrified before 2030; currently has only two electric cars: Volvo XC40 Recharge and C40 Recharge.
Volvo hopes that by 2025, at least 50 percent of sales will be made up of EVs. It also takes a pragmatic approach to the way consumers buy cars. Volvo, for example, is responsible for around 50 percent of future sales. instead of physically going to the dealer He estimates that it will be completed over the Internet.
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In addition to Volvo’s transition to electric car technology, its efforts towards carbon neutrality and sustainability are also in its vehicles. will no longer offer leather seats has been riveted by its recent announcement.