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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 specs new 450-hp triple-charged four-cylinder engine

When Volvo lifted the veil on the new XC90 a little over a month ago, it announced that all versions would be powered by one engine design: a new 2.0-liter four-cylinder to be offered in various states of tune. That would range, Volvo said, all the way up to a high-output version with "around 400 horsepower," but while it wouldn't specify exact output, now it has.
The new High Performance Drive-E Powertrain incorporates two parallel turbochargers fed by a third electric turbo-compressor. Instead of feeding the cylinders directly, that third unit spools up the twin turbochargers, working together with a dual fuel pump pressurized to 250 bar.
The result is an output of 450 horsepower - far more than the existing 320-hp version and even more than expected. That also works out to 225 hp/liter, far more than the 177 hp/liter boasted by Mercedes-AMG's high-output turbo four and the 139 hp/liter in the Alfa Romeo 4C. Short of a rotary engine (whose actual displacement is the subject of great debate), you'd have to go up to something like the Koenigsegg One:1 (268 hp/liter) to find a higher specific output than what Volvo's boasting here.

Volvo aligning model range into three families

Things have been slow in Gothenburg the past few years, but they're picking up speed. The only new model Volvo has released in the past four years since it was taken over by Geely - that being the V40 introduced in 2012 - started its development when the company was still under Ford's umbrella. But now the Swedish automaker is preparing to launch a volley of new models, and the new XC90 is only the starting point.
Volvo has set out to align its product portfolio into three model families - 40, 60 and 90 - each with three body-styles: sedan, wagon and crossover. (Volvo presented a tidy little table, which we've replicated below, to outline what it has in store.) That means a new S40 sedan and XC40 crossover as well as a replacement for the current V40 wagon, all to be based on a new platform shared with Geely. It also means replacements for the current S60, V60 and XC60 to be based on the modular SPA platform that underpins the new XC90, as well as a new S90 sedan to replace the S80 and a new V90 wagon to succeed the V70 and move it up-market above the V60.
All of these models are set to arrive within the next four years as Volvo moves to replace its entire lineup by 2019 and subsequently move to more competitive seven-to-eight-year product life-cycles. But as aggressively as Volvo is pursuing this renewal of its core models, they're not the only things Gothenburg has in store. Keep reading below to learn how Volvo's model line will flesh out over the coming years.