|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||26.32 - 26.58|
|52-week range||12.58 - 28.18|
|Beta (5Y monthly)||1.21|
|PE ratio (TTM)||17.43|
|Forward dividend & yield||1.75 (6.60%)|
|Ex-dividend date||05 Apr 2021|
|1y target est||N/A|
(Bloomberg) -- Volvo Cars said it’s considering an initial public offering months after calling off earlier plans to merge with Geely Automobile Holdings Ltd., the Chinese manufacturer owned by its parent.The board of the Swedish carmaker has decided to evaluate a possible listing on the Nasdaq Stockholm stock exchange later this year, according to a statement. Bloomberg News reported in March that owner Zhejiang Geely Holding Group Co. was considering an IPO that could value the business at around $20 billion.Volvo’s more than a decade under Chinese control has been a success story. While pandemic disruptions snapped a six-year streak of record sales, demand came roaring back and fueled record deliveries and profit in the second half. Geely has been a supportive owner, helping fund construction of the company’s first-ever U.S. car plant and the investment it will take to go fully electric by the end of the decade.“We have supported the transformation and growth of Volvo Cars for the last 10 years, enabling the company to become a true premium brand with improved profitability,” Eric Li, Geely Holding’s chairman, said in the statement. “Volvo Cars is especially well positioned to deliver continued growth and harness the full potential of electrification and the delivery of safe autonomous drive functions.” Geely Holding would remain a major shareholder of Volvo, which also announced that it has extended the contract of Chief Executive Officer Hakan Samuelsson to the end of next year. He’s led Volvo since 2012, two years after Geely acquired the company from Ford Motor Co. for just $1.8 billion.For all its success boosting Volvo’s value, Geely has struggled to cash in on its investment. It pursued an IPO in 2018 but shelved the idea after investors balked at its proposed valuation of as much as $30 billion, people familiar with the matter said at the time.(Updates with context in the third paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Whether you’re a lord or a loafer, some cars cross all social divides. Just ask Lady Carnarvon, who lives at Highclere Castle in Hampshire – the real-life Downton Abbey. The Countess is an author and married to George ‘Geordie’ Herbert, the 8th Earl of Carnarvon. Since 2001 she has helped run her husband’s ancestral mansion, set in 5,000 acres of countryside, near Newbury. Famous as the location for Downton Abbey, the TV series was created by the Carnarvons’ long-standing friend Julian Fellowes. The drama has since made the estate one of the best-known and iconic country houses in Britain. Her all-time favourite motor is a classic Bentley, which belonged to her father and was called Boris. However, Lady Carnarvon has owned a string of more down-to-earth vehicles herself, including her first car, an original Mini.
Daimler Trucks and Volvo AB said on Thursday they aim jointly to cut the costs of hydrogen fuel cells by a factor of five or six by 2027 as they seek to make the zero-emission technology commercially viable for long-haul trucking. But even if cellcentric, the fuel-cell joint venture the two companies formed in March, brings down costs by that much, Martin Daum, head of Daimler AG's truck unit, said he doesn't see hydrogen-fueled trucks reaching cost parity with diesel models for at least 15 years. The German and Swedish makers of large freight-hauling trucks said cellcentric would start producing hydrogen fuel cells in Europe in 2025, and called for EU policies to help build out fueling infrastructure and provide subsidies and tax breaks to help make hydrogen trucks affordable for customers who want zero-emission models.