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Volvo Cars hopes to raise $2.9 billion in its stock IPO

STOCKHOLM/LONDON — Geely-owned Volvo Cars plans to raise 25 billion Swedish crowns ($2.9 billion) through an initial public offering (IPO), the Swedish carmaker said on Monday of what would be one of Europe's biggest listings this year. Volvo said it will list on the Nasdaq Stockholm stock exchange this year and that Chinese owner Geely Holding would remain its biggest shareholder. In 2018, Volvo Cars and Geely, which also owns an 8.2% stake in Sweden's Volvo Trucks, postponed plans to float shares in the Swedish carmaker, citing trade tensions and a downturn in automotive stocks. "Volvo Cars believes that its unique structure and focused strategy makes it one of the fastest transformers in the global automotive industry, with mid-decade ambitions dedicated to electrification, sustainability and digitization," the Swedish company said in a statement. Like a number of other carmakers, Volvo has committed to shifting its entire car range to fully-electric models by 2030. Volvo said is targeting an operating margin of between 8% and 10% by 2025. It is also aiming for annual sales of 1.2 million cars, up 56% from the 770,000 it sold in the 12 months to June 20 this year. Electric push The carmaker said it expects 50% of sales to be fully electric cars by the middle of the decade and that 50% of sales will be made online rather than in dealerships. Volvo Cars said earlier on Monday that its sales in September fell 30% from a year earlier, dented by the global components shortage. Sources told Reuters last month that Geely was in advanced discussions with banks to list the Swedish company in the coming weeks, aiming for a valuation of about $20 billion. Volvo Cars had previously said it was considering a Stockholm listing in the second half of 2021. A Volvo spokesperson on Monday said that the company had no comment on valuation or on how much of the business would be sold in the IPO. "There will be further information published in connection with the prospectus," she said. Electric-car maker Polestar, which is owned by Geely and Volvo, last week said it will go public by merging with a U.S.-listed special purpose acquisition company (SPAC) backed by billionaire Alec Gores and investment bank Guggenheim Partners at an enterprise value of $20 billion. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2022 Volvo C40 Recharge charging

Volvo opens order books for XC90 First Edition

The new Volvo XC90 breaks new ground in any number of ways. It's based on a new modular platform, packs new engines, introduces a new design language and incorporates a whole slew of new safety systems. Even in its sales approach, it takes Volvo into new territory.
In what Volvo calls an industry first, the first 1,927 examples of the new XC90 will be sold online. Those First Edition models, whose production numbers honor the year of the company's founding, will come fully equipped in T6 AWD guise with the twin-charged (but not hybrid) 316-horsepower engine, air suspension, Bowers & Wilkins audio system and 21-inch Inscription alloys, decked out in black with a tan Nappa leather interior, all for $65,900.
As you can see from the online store, ordering has officially begun. Get one while they're hot.

Volvo to unveil permanent high-beam headlamp technology [w/video]

Volvo will be showing off its Active High Beam technology at the Geneva Motor Show next week. The system will allow drivers to use their high beams all the time and adds another responsibility to the cameras mounted by the rearview mirror, making them detect traffic ahead, whether it be another car or a truck or motorcycle and in the same lane or oncoming. When a vehicle is detected, a special projector in the Xenon lamps can block out only the portion of the high beam that would impair the other driver. Volvo says the system is accurate down to a 1.5-inch margin around another object.
Active High Beam will be fitted to the Volvo S60, V60 and XC60 and we have to assume they mean the non-US versions of those cars. Audi has a similar technology that it calls "matrix beam lighting," and due to the way the US Federal Motor Vehicle Safety Standard code is written, such active control of high beams is verboten on cars sold here.
The Swedish brand also plans to present a collision-avoidance technology it's calling a "world-first." The press release below has more information and the accompanying video demonstrates the lighting tech.