Volvo Automobiles, the Swedish vehicle maker owned by Zhejiang Geely Holding Group Co.
of China, is finishing plans for an preliminary public providing and is about to announce particulars of the itemizing as early as Monday, in a deal that would worth the automotive maker at as a lot as $25 billion, in accordance with folks accustomed to the matter.
A list, if it goes forward, would signify one of many automotive trade’s most dramatic turnarounds. Ford Motor Co.
weakened by the worldwide monetary disaster, sold the Swedish company to Geely for $1.8 billion in 2010.
Volvo has lengthy capitalized on a model acknowledged for security, however on the time of its sale, its product lineup had didn’t excite automotive consumers. Geely bankrolled Volvo’s restoration over the subsequent decade, opening China as a marketplace for the model and offering financing to assist the corporate revamp its mannequin choices.
As we speak, Volvo is worthwhile, with a street map for electric-model rollouts that’s forward of some rivals. Its model is again in vogue within the U.S. and elsewhere. It now competes with German premium manufacturers, together with BMW maker Bayerische Motoren Werke AG
For the primary half of this yr, Volvo reported a 41% improve in gross sales over the identical interval final yr, to 380,757 automobiles. The corporate’s gross sales within the U.S. rose 47% to 63,754 automobiles.
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