1998 California Volvo V70 Glt Wagon 4-door 2.4l Awd All Wheel Dri Ve on 2040-cars

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Volvo Cars plans $20 billion stock IPO this month, sources say

STOCKHOLM — China's Geely Holding is in advanced discussions with banks to list its Volvo Cars unit in the coming weeks, three sources told Reuters, in what is expected to be one of Europe's biggest initial public offerings (IPOs) this year. Volvo Cars is aiming for a valuation of about $20 billion in the planned Stockholm listing, the sources said, with one saying the launch was penciled in for the end of September. Goldman Sachs and SEB are leading the transaction, while other banks including BNP Paribas, Carnegie and HSBC are also involved in the deal, the sources added. Volvo Cars declined to comment. Geely did not immediately respond to an emailed request for comment outside normal business hours in China. SEB and Goldman Sachs declined to comment. The other banks were not immediately available. Geely, which bought Volvo from Ford more than a decade ago in the biggest acquisition by a Chinese firm of a foreign car maker, sought to float shares in the Swedish firm in 2018 but then pulled the deal citing trade tensions and a downturn in automotive stocks. Traditional carmakers have fallen out of favor in recent years, as Tesla has risen to be one of the world's most valuable companies, putting the focus on electric vehicles. Many European firms have pivoted toward the electric sector, including Volvo, which aims to only make fully electric cars by 2030 and owns a 49.5% stake in electric car maker Polestar. Valuation Gothenburg-based Volvo Cars aims to secure a valuation of roughly $20 billion, one of the sources said, while another mentioned a possible range of $20 billion to $30 billion. A third source suggested a $16 billion valuation was more realistic, citing the firm's revenue outlook. A $20 billion valuation for Volvo would be equivalent to six to seven times its earnings, a level some analysts say is high although it would put it in line with rivals Daimler and BMW. Tesla's valuation is more than 70 times that. NordLB's automotive analyst Frank Schwope estimated a valuation range of $10 billion to $15 billion. "The strong margins seen in the first half of 2021 are unlikely sustainable as the market benefited from a strong post-pandemic rebound that is unlikely to continue," Schwope said. For Geely's founder Li Shufu, who bought Volvo for $1.8 billion, the listing is a milestone on the road to transport of the future, where cars are part of an electrified network of mobility services generating data and business opportunities.

2022 Volvo C40 Recharge Interior Review | Stylish, spartan and Google tech

The 2022 C40 Recharge is an all-electric, all-or-nothing proposition from those delightfully stylish Swedes over at Volvo, whose designers put their typical minimalistic spin on this crossover-coupe EV. While Zac was a bit more fond of the all-blue interior in our tester than I was (you can also get it in black), I was at least equally as impressed as he was by its new tech suite. The "you can get it any way so long as it's loaded" American-market C40 arrived sporting the latest version of Google’s Android Automotive OS infotainment system (like other Volvos). In what may be the most stereotypical display of Silicon Valley chicanery I've seen so far in 2022, this new infotainment system doesnÂ’t support Apple CarPlay at launch, so it was almost poetic when the iPhone I used to shoot the above video fought me tooth-and-nail when I tried to share it via Google Drive. Relax, iPhoners. Volvo says an OTA update with CarPlay support is coming. But let's face it, when it comes to maps, Google is Google, and since you get it natively here, it works exactly the way you'd expect it to. Google Assistant is there to handle your voice commands too. There's even ample room in the rear for a future Google Bathroom Attendant, should you feel that you're just not getting quite enough Google in your diet.  If you've driven a recent Volvo, the infotainment system will probably look familiar to you. Despite the architectural overhaul and obvious Google ecosystem UI elements, it still feels like a Volvo system. I suppose that could be either good or bad, depending on how you feel about Volvo's user experience, which tends to eschew menu-diving in favor of pretty much putting every possible feature on the screen at the exact same time. That may sound overwhelming, but there's an organizational method to this pixelated madness.  Google's approach uses a simple scroll when you run out of home screen (yes, like a smartphone) and has collapsing drop-downs in the app menu for categories with more icons than will fit in the allotted span. For apps, settings and other such menus, this works a treat. Obviously, you don't want to be scrolling through things like cabin temperature or fan speeds, so you get more conventionally laid-out menus for both, for better or for worse.

Volvo bringing Chinese-built cars to America beginning next year

Just because the penetration of the American automotive market by Chinese brands hasn't quite happened yet doesn't mean that Chinese-built cars are far off. According to a new report, we could very soon see long-wheelbase Volvo S60s that were assembled in the People's Republic arriving on US shores.
The report comes from Automotive News China, which cites an anonymous Volvo exec. An official Volvo spokesperson later corroborated ANC's report, although where the original source claimed that we could see the Chinese-built S60L in US dealers at some point in 2015, the company line was that a timeline hadn't been established to begin exports from the world's most populous nation.
According to Volvo, the benefit to exporting from China to the United States rather than from Sweden is the relationship between the US dollar and the Chinese yuan. Overall, it's a less tumultuous issue than the dollar-to-euro situation. By moving vehicles from China to the US, the Chinese-owned company is limiting the degree of risk it's taking with sudden currency swings.