Photo: Volvo
Volvo is reportedly making good progress toward a potential initial public offering (IPO) by the end of this year, according to company CEO Hakan Samuelsson, who just recently laid out an extensive road map to becoming a fully electric car brand by the year 2030.
“We are looking at the possibility of doing an IPO before the end of the year,” listing shares on the Nasdaq Stockholm exchange, said Samuelsson during an interview. It seems to be the trend now, as several startup car companies have gone public over the past two years in a bid to raise capital and compete with more established brands, such as Volvo, for example.
Earlier this year, Volvo declined a proposed merger with Chinese parent company Geely Automotive, as the latter accepted Volvo’s plan to explore capital market options. Those include the initial public offering and stock market listing, reports Reuters.
Even so, Volvo and Geely will continue to share common vehicle architectures, according to Samuelsson, as well as internal combustion powertrains and various other components, albeit without working too closely together. In the end, Volvo’s goal is still to build the safest cars possible, using all the available technology in the industry, which means always being at the forefront of electric mobility and active safety systems.
Speaking of future Volvo models, they will be equipped with a new generation of batteries beyond 2025, enabling them to drive longer distances between charges—up to 625 miles (just over 1,000 km). To get there, Volvo and its Swedish partner Northvolt will build a European battery plant in 2026 with a 50 GWh production capacity. By comparison, Tesla’s Nevada gigafactory has a 35 GWh capacity.
In the short term, Volvo will unveil the first of its next-gen electric models next year. It will be a large flagship SUV, employing the same platform as all the additional models to follow.
Earlier this year, Volvo declined a proposed merger with Chinese parent company Geely Automotive, as the latter accepted Volvo’s plan to explore capital market options. Those include the initial public offering and stock market listing, reports Reuters.
Even so, Volvo and Geely will continue to share common vehicle architectures, according to Samuelsson, as well as internal combustion powertrains and various other components, albeit without working too closely together. In the end, Volvo’s goal is still to build the safest cars possible, using all the available technology in the industry, which means always being at the forefront of electric mobility and active safety systems.
Speaking of future Volvo models, they will be equipped with a new generation of batteries beyond 2025, enabling them to drive longer distances between charges—up to 625 miles (just over 1,000 km). To get there, Volvo and its Swedish partner Northvolt will build a European battery plant in 2026 with a 50 GWh production capacity. By comparison, Tesla’s Nevada gigafactory has a 35 GWh capacity.
In the short term, Volvo will unveil the first of its next-gen electric models next year. It will be a large flagship SUV, employing the same platform as all the additional models to follow.
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