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Polestar Precept Concept Set to Become 2024 Polestar 5

Polestar Precept Concept Set to Become 2024 Polestar 5

The Polestar Precept Concept that was unveiled last year will officially go into production in 2024.

Vineeth Joel Patel2021-11-28 07:15 PT

Volvo Cars Shares Surge 22% After its $2.3 Billion IPO and Debut on the NASDAQ Stockholm

Volvo Cars Shares Surge 22% After its $2.3 Billion IPO and Debut on the NASDAQ Stockholm

Swedish automaker Volvo Cars is the latest automaker to go public after the company completed its planned European IPO on Friday. The automaker's shares are listed on the NASDAQ Stockholm. Volvo Cars scaled back its IPO earlier this week, pricing it at the low end of its previously announced range of SEK 53 to 68 per share. The shares surged 20% reaching SEK 63 (US$7.32) on the first day of trading before settling back near the offer price.

FutureCar Staff 2021-10-29 14:30 PT

Volvo Cars Announces Plans for an IPO, Aims to Raise $2.9 Billion

Volvo Cars Announces Plans for an IPO, Aims to Raise $2.9 Billion

Sweden-based automaker Volvo Cars, which is owned by Chinese automaker Zhejiang Geely Holding Group Co. (“Geely”), on Monday announced its intention to launch an Initial Public Offering (IPO) and to list its class B shares on Nasdaq Stockholm. For the proposed IPO, Volvo Cars is expected to issue new shares to raise gross proceeds of approximately SEK 25 billion (US$2.8 billion).

FutureCar Staff 2021-10-04 12:30 PT

Volvo’s Electric-Performance Brand Polestar to Go Public in a $20 Billion SPAC Deal With Gores Guggenheim, Inc.

Volvo’s Electric-Performance Brand Polestar to Go Public in a $20 Billion SPAC Deal With Gores Guggenheim, Inc.

​After months of rumors, electric-performance vehicle brand Polestar, which is jointly operated by Swedish automaker Volvo Cars and its parent company Chinese automaker Zhejiang Geely Holding (“Geely”), announced on Monday an agreement to merge with special purpose acquisition company (SPAC) Gores Guggenheim, Inc.

Eric Walz2021-09-27 10:15 PT

Geely Raises $500 Million in the First Ever Outside Investment Round for its New Premium EV Brand ‘Zeekr’

Geely Raises $500 Million in the First Ever Outside Investment Round for its New Premium EV Brand ‘Zeekr’

Chinese automaker Geely Automobile and its parent Zhejiang Geely Holding Group Co. (Geely) raised $500 million in the first-ever external funding round for its new jointly owned premium electric vehicle brand Zeekr. Geely announced it was establishing Zeekr in March as a standalone brand to compete with Tesla, XPeng, NIO Inc. and others in the premium EV market in China.

Eric Walz2021-08-30 10:00 PT

Volvo Cars to Take Full Control of its Chinese Business From Automaker Geely as it Explores a Possible IPO

Volvo Cars to Take Full Control of its Chinese Business From Automaker Geely as it Explores a Possible IPO

Swedish automaker Volvo Cars has struck a deal to buy out parent company Zhejiang Geely Holding (Geely) from its joint ventures in China, in a move that could make a possible initial public offering (IPO) of Volvo Cars more attractive to investors. Chinese automaker Geely is the parent company of Volvo Cars and the two companies are joint venture partners in China building cars for the local market.

FutureCar Staff 2021-07-21 13:00 PT

Volvo Cars to Take a Bigger Stake in Electric-Performance Brand Polestar

Volvo Cars to Take a Bigger Stake in Electric-Performance Brand Polestar

Swedish automaker Volvo Cars is acquiring additional shares in electric electric performance vehicle brand Polestar, the automaker announced on Monday. The additional shares in Polestar will increase Volvo Cars’ stake to 49.5%. Polestar is the new EV brand operated by Volvo Cars and its parent company Chinese automaker Zhejiang Geely Holding Group Co (Geely).

FutureCar Staff 2021-07-12 13:20 PT

Italy Fines Google for Excluding the ‘JuicePass’ EV Charging App From Android Auto

Italy Fines Google for Excluding the ‘JuicePass’ EV Charging App From Android Auto

Italy's competition regulator has fined U.S. tech giant Google 102 million euros (US$123 million) for excluding an e-mobility app developed by energy company Enel from the U.S. tech giant's open Android platform. Google has not allowed Enel's JuicePass smartphone app to operate on Google's Android Auto app for the past two years.

FutureCar Staff 2021-05-14 07:30 PT

Electric Brand Polestar Raises $550 Million in its First External Investment Round

Electric Brand Polestar Raises $550 Million in its First External Investment Round

Electric vehicle brand Polestar, which is jointly owned by Swedish automaker Volvo and Chinese automaker Zhejiang Geely Holding (Geely), announced it raised $550 million in its first ever outside investment round. The new financing comes as investors pour money in electric vehicle stocks and related companies working on advanced mobility, including EV battery technology and self-driving vehicles.

Eric Walz2021-04-15 09:45 PT

Volvo’s Electric Brand Polestar is Partnering in a Swedish Energy Project to Accelerate the Development of Vehicle-to-Grid Technology

Volvo’s Electric Brand Polestar is Partnering in a Swedish Energy Project to Accelerate the Development of Vehicle-to-Grid Technology

Volvo’s new electric vehicle brand Polestar is part of a new joint project with four other companies in Sweden to accelerate the development of Vehicle-to-X (V2X) technology, including Vehicle-to-Grid (V2G) and Vehicle-to-Home (V2H). The project is being supported by the Swedish Energy Agency.

FutureCar Staff 2021-04-01 09:45 PT

Automakers Geely & Volvo Cars to Launch a New Powertrain Joint Venture After Merger Talks End

Automakers Geely & Volvo Cars to Launch a New Powertrain Joint Venture After Merger Talks End

Sweden-based Volvo Cars and Chinese automaker Geely Auto are combining their vehicle powertrain operations in a new joint venture company while still retaining their existing independent corporate structures. In addition to developing new EV powertrains under the new venture, the two automakers will share electric vehicle architectures and autonomous driving technologies.

Eric Walz2021-02-24 17:30 PT

Polestar Opens Dealership in Oslo, Will Focus on China, U.S., Europe in 2020

Polestar Opens Dealership in Oslo, Will Focus on China, U.S., Europe in 2020

Oslo, Norway may seem like an odd place for Volvo’s Polestar to open up its first dealership, but the country has a large number of electric vehicles and individuals that are interested in EVs. Polestar, though, will be focusing on expanding to other parts of the world in 2020.

Vineeth Joel Patel2019-11-11 06:00 PT

Volvo's New Business Plan Includes a Major Shift to Electric and Autonomous Vehicles

Volvo's New Business Plan Includes a Major Shift to Electric and Autonomous Vehicles

Volvo Cars, the premium car maker, has announced new financial and operational goals that will position the company as a leading player in the changing global automotive landscape by 2025. A large part of the plans include autonomous and electric vehicles, with autonomous vehicles comprising one third of all Volvo models sold.

Paul Young2018-06-07 16:46 PT