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Volvo Cars today announced its official listing on the Stockholm Stock Exchange. Trading under the symbol "VOLCAR B", the opening price was SEK 58.75 and the offering price was SEK 53/share.

As early as October 4, Volvo Cars issued a document saying that it planned to conduct an IPO and list on the Nasdaq Stockholm Stock Exchange. According to Volvo's official announcement, the IPO raised 18.5 billion yuan, or about 2.87 billion US dollars. Volvo Cars CEO Hanken Samuelson said: "The decision to move forward with the IPO helps to enhance our brand and accelerate our transition strategy towards full electrification, a direct customer model and higher levels of safety. This will enable the company to achieve continuous growth in sales, revenue and profitability."

In fact, for the road to listing, in 2016, Volvo had conducted an IPO market evaluation, at that time also obtained the recognition of Swedish investors, later because Geely said that Volvo IPO is not needed to finance, resulting in the listing plan shelved. In 2018, Volvo put the listing process on track again, hiring top investment banks including Citigroup, Goldman Sachs and Morgan Stanley to coach Volvo's listing. Geely valued Volvo at $16 billion-$30 billion at that time, while relevant institutions valued Volvo at $12 billion-$18 billion. Later, because of the huge difference between the two, the listing plan had to be terminated. On May 13,2021, Volvo officials said again that the board had decided to reassess the possibility of an IPO and was expected to list on the Stockholm Stock Exchange in Sweden later this year. However, the final decision on whether to list depends on market conditions, and officials cannot guarantee that the listing will take place.

Volvo is a Swedish luxury car brand founded in 1927. In 1999, Volvo sold its Volvo car business to Ford Motor Company. In 2010, Geely Group bought Volvo Cars from Ford for $1.8 billion and acquired ownership of the Volvo brand. At the 2017 Guangzhou International Auto Show, Volvo officially released the domestic version of its brand-new XC60 model. The whole series will launch T4, T5 and T8 power configurations, totaling 8 models. On December 20,2017, Volvo's new XC60 was officially launched in Chengdu.

Geely has invested more than $11 billion in volvo in the decade since its acquisition. Although the car market is becoming more and more competitive, Volvo's sales figures are also very impressive with the help of Geely. According to relevant data, Volvo's global sales volume in 2019 was 705,500 vehicles, up 9.8% year-on-year. In 2020, Volvo's global sales volume is 661,700 vehicles. In the first three quarters of 2021, Volvo's global cumulative sales volume is 530,600 vehicles, with a year-on-year growth of 17.6%, among which 132,600 vehicles are sold in China market, with a year-on-year growth of 17.1%. Some industry insiders say Volvo's listing is its determination to seek a rapid transition to electrification. According to Volvo's prospectus, 70% of Volvo's funds will be used for electric transformation.

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