According to Bloomberg, Geely Holding Group has very quietly been discussing a potential plan for a Volvo IPO as soon as this year. With an estimated value of $20 billion, Volvo could serve Geely’s long-term interests extremely well as a publicly-traded company. Like other automakers, Geely is searching for ways to fund the extremely expensive shift to EVs and autonomous driving. Bloomberg points out companies have raised $220 billion globally this year alone from IPOs.
Last year, Volvo sold more than 660,000 passenger vehicles with China being its best market, followed by the US and Europe. There are even plans to spin-off Polestar, the all-electric brand jointly owned by Volvo and Geely, sometime later this year as well.