Polestar, Volvo’s electric sister brand, is considering going public. An IPO of Volvo is also on the table again.
The Swedish-Chinese Polestar and Volvo are considering an IPO. In both cases no final decisions have yet been taken. Volvo should be worth up to $ 20 billion, about $ 17 billion. Volvo’s sister brand Polestar could be worth $ 10 billion, some € 8.5 billion, says news agency Bloomberg know. Apart from plans for a possible IPO, Polestar is also considering holding a new round of investment after raising $ 500 million from investors last year.
Volvo’s IPO could already take place this year. Parent company Geely from China would talk about this with advisers. This includes going to the stock exchange in Stockholm or a visit to the stock exchange in Amsterdam. Polestar does not yet know exactly how it wants to go public. An IPO in the United States or Hong Kong is being considered, but also the possibility of merging with a ‘spac’ (special purpose acquition company), an empty stock exchange sleeve into which investors have invested money with the aim of acquiring a company. take.
In 2018, Geely also tried to bring Volvo to the stock exchange, but that was called off when investors found the proposed valuation of $ 30 billion too high.
Polestar officially split from Volvo in 2017. Before that, it was still a sporty subdivision of the brand. It started with the Polestar 1, a coupé with S90 blood that was initially supposed to be fully electric, but was launched as a plug-in hybrid. Then the Polestar 2 appeared, a fully electrically powered model that shares its basis with the Volvo’s XC40 and C40. The next Polestar we can expect is the production version of the Precept Concept.