Tag: Geely Holding

Volvo refinance SEK5 billion to Swedish investors

Swedish origin Volvo Cars, owned by China’s Geely Holding announced in a statement on 16th December 2019, that they had issued SEK5 billion worth of convertible preference shares to a group of Swedish institutional investors, comprising Swedish pension fund AMF and Swedish insurance and pension savings group Folksam. “Today’s announcement represents a significant, continued endorsement…

Volvo Cars, Geely launch new car brand: Polestar

Volvo Cars, the premium car maker of Sweden, and its Chinese owner Geely Holding has announce they will jointly invest RMB 5 billion (EUR 640 million) in a new standalone electric performance brand called Polestar. This initial investment will support the initial phase of Polestar’s product, brand and industrial development to become a fully consolidated…