Possible return to the stock market for Volvo with an operation of 25 billion

According to rumors, the confirmation of the return of Volvo Cars to the stock market could arrive in the next few hours, with an IPO on the Stockholm market that would enhance the brand at around 25 billion dollars. This was reported by the Wall Street Journal, anticipating an operation that would mark a clear success for Geeely, the Chinese holding that in 2010 had acquired full control of the Swedish brand from Ford for just 1.8 billion dollars. In this decade, the Chinese group has invested more than 11 billion dollars in Volvo Cars, financing a modernization of the range, the evolution towards the rapid electrification of the offer and the opening of factories in China that have helped the brand to respond to the growing demand from local consumers In the first six months of this year, Volvo made a profit of SEK 13.24 billion, more than double the profit made in the same period of 2019, before the outbreak of the crisis coronavirus. According to analysts, Volvo – which already in recent months had anticipated the possible landing on the stock market – could use the money raised by the IPO to support the strategy that should transform the brand into a manufacturer of 100% electric cars by 2030, with the construction in Europe of a gigafactory of batteries by 2026.