2010 V70 Wagon Sunroof Premium Package Carfax Call We Finance 18295 Wont Last on 2040-cars

Auto blog

Volvo Cars leaps 22% in IPO stock debut — a big endorsement for EVs

Volvo Cars CEO Hakan Samuelsson at the automakers' stock market opening bell on Friday in Stockholm. (Getty Images)   STOCKHOLM — Volvo Cars shares surged 22% on their Stockholm market debut on Friday after wrapping up Europe's biggest IPO of the year so far, in a boost for new issues markets and carmakers' vision of an electric future. The Gothenburg-based company cut the size of its listing and priced it at the bottom of a previously-announced range UPDATE 3-Volvo Cars gives itself $18 bln price tag as cuts IPO size - Reuters News on Monday, valuing it at just over $18 billion and making it Sweden's second largest listing yet. But the successful deal and strong market reaction — which propels the valuation to about $22 billion — is a lift for a European automotive industry that has embarked on a challenging transition towards electric vehicles (EVs). It also shows that while the euphoria over initial public offerings (IPO) in the first half of 2021 is over, the market is open for new listings of big companies with a story to tell. Volvo Cars Chief Executive Hakan Samuelsson said the listing showed a recognition of its transition plans, adding it would be key for Volvo to demonstrate it is on track to be the "fastest transformer." "There's a much bigger interest in the market to invest in electric car makers than in the conventional ones. So we better do what we said we would," he told Reuters in an interview. Shares in the carmaker, which is majority owned by China's Geely Holding, were trading at 64.70 Swedish crowns ($7.59) at 1057 GMT, after being priced at 53 crowns in the IPO. Polestar Apart from Volvo's commitment to becoming a purely electric carmaker by 2030, it also has a 49% stake in EV venture Polestar, which said in September it would go public through a $20 billion deal. Samuelsson said Polestar had a "good valuation." "They are already electric... showing in a way what the potential would be for Volvo if this (the transformation) is done in the right way." A source familiar with Volvo's transaction said the outcome of this week's IPO was good, even though investors had pushed back and forced Volvo to price at the bottom of the announced range. "The company had to compromise on size and the governance structure. They were hoping for a read across on Polestar, but they were clearly not getting that," the source said, requesting anonymity because they were not authorised to speak to the press.

Volvo Concept Estate gets official [w/video]

The final chapter of Volvo's concept car trilogy has arrived after a few teasers earlier this week, as well as some recently leaked images, and as we so astutely summarized previously, it's a brown shooting brake. Really, we couldn't think of a better type of vehicle to follow up the Concept Coupe from the Frankfurt Motor Show, the Concept XC Coupe from the Detroit Auto Show and complete the Swedish trinity of concepts.
It's best to think of the Concept Estate as the hipper, classier cousin to the Concept Coupe. The two are virtually identical below the beltline, featuring front fascias that are indistinguishable from each other (except one is, you know, brown). Both cars wear wide, rectangular grilles inspired by classic Volvo models and T-shaped headlights Where the Concept Estate differs, obviously, is with its more functional rear end and longer roof.
That rear is accented by the Estate's wide haunches and slim, angular taillights, which borrow heavily from the units shown on the Concept XC Coupe. These two features work in tandem to present a wide, squat appearance from the rear. The profile, meanwhile, shows off that spacious greenhouse, which is made even airier by a glass roof.

Volvo Concept Estate hauls in great expectations [w/videos]

You're looking at the third leg of Volvo's award-winning concept trilogy, the Concept Estate. Despite its banal name, this sweeping longroof showcar has our attention like few other cars at the Geneva Motor Show.
It's not just that we have a weakness for shooting brakes or Volvo's take on the genre in particular (we can see some P1800ES in this design). We just think this car is exceptionally well surfaced, with a fantastic stance and the sort of clean lines that are singularly appropriate of a Scandinavian design. We also appreciate the details that are expected to inform future production models, including the T-shaped headlamps, strong rear shoulders and floating grille mount. In fact, the vast majority of the Concept Estate's design idiom is expected to make it to showrooms in future models, starting with the long-overdue, second-generation XC90 crossover.
We hope - but don't expect - that attitude carries over to the interior, which has stunning, white leather, floating clamshell seats backed in plaid. If there's one cabin feature that's expected to make it to production, it's a derivative of the car's new infotainment system, which features a massive touchscreen with tablet-like gesture controls.