Geely Ponders IPO for Volvo Cars
Zhejiang Geely Holding Group Co. is analyzing a plan to launch an initial public offering later this year for its Volvo Car unit, sources tell Bloomberg News.
Geely has hired Citigroup, Goldman Sachs and Morgan Stanley to provide counsel for the move. Other advisors may be added.
Bloomberg’s sources say an IPO would value Volvo between $16 billion and $30 billion. The share sale could occur as soon as this autumn, although no decision has been made to proceed.
Bloomberg reports that Volvo may decide to benchmark itself against certain other publicly traded carmakers, including Geely Automobiles and Tesla.
Although the RAV4 has plenty of heritage in the small crossover segment, competition has gotten a whole lot tougher, so Toyota has made significant changes to the fourth-generation model.
Dan Nicholson is vice president of General Motors Global Propulsion Systems, the organization that had been “GM Powertrain” for 24 years.
It’s the fifth generation of a vehicle that has been increasing in sales year after year since its introduction in 1997.