Shares of Swedish automaker Volvo Cars (VOLCARb.ST) fell as much as 14% to a record low on Friday after its majority shareholder, China’s Geely (0175.HK), sold a small part of its stake at a deep discount to the previous day’s closing price, Reuters noted. The sale of the 3.4% stake leaves Geely with a holding… Continue reading Volvo Cars shares drop to record low as Geely trims stake: Report
Tag: Geely
Volvo shares sink after Geely cuts stake
What is included in my trial? During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Premium Digital includes access to our premier business column, Lex, as well… Continue reading Volvo shares sink after Geely cuts stake
New Volvo EM90: all-electric business class MPV revealed in full
Considering Volvo’s rich history of practical, boxy family cars, it’s perhaps surprising that the Swedish manufacturer has never delved into the world of MPVs – well, that’s all changed thanks to the new Volvo EM90. The EM90 is the third all-electric ‘E’ badged Volvo to come along in the past year, following on from the… Continue reading New Volvo EM90: all-electric business class MPV revealed in full
New Volvo XC60 Black Edition turns to the dark side
The Volvo XC60 is upping the style by including a new Black Edition model in its family-friendly SUV range. As the name suggests, the XC60 Black Edition is only available in Onyx Black, with the ink-like paint complimented by a gloss black grille and black Volvo lettering, badges and signature ironmark logo. The 21-inch alloy… Continue reading New Volvo XC60 Black Edition turns to the dark side
How a 50-year-old Volvo became a Hot Wheels legend
If you’re into cars, then diecast models are likely to have been a major inspiration in early life. Enthusiasts of a certain vintage will have collected Dinky Toys, and later came Matchbox and Corgi Toys, but in 1968 an American upstart arrived in the shape of Hot Wheels. Founded by US toy giant Mattel, Hot… Continue reading How a 50-year-old Volvo became a Hot Wheels legend
Volvo to explore China’s premium MPV market
Jim Rowan, CEO of Volvo Cars, speaks at the EM90 launch event in Shanghai on Nov 12, 2023. [Photo provided to chinadaily.com.cn] Volvo Cars launched its first ever electric multi-purpose vehicle in Shanghai on Sunday, marking the Swedish premium brand’s attempt to enter a brand-new segment. The EM90, priced at 818,000 yuan ($112,135), will be first… Continue reading Volvo to explore China’s premium MPV market
Geely’s Meizu raises fresh funding at post-money valuation of $1.4bXingji Meizu Group has raised $276m in an extended angel and Series A round.
Xingji Meizu Group, a smartphone maker that was acquired by the founder of Chinese automotive firm Zhejiang Geely Holding in July 2022, has raised a total of 2 billion yuan ($276.1 million) in an extended angel and Series A round. The Series A funding, which was sealed recently, saw participation from Asia Investment Capital (Shanghai)… Continue reading Geely’s Meizu raises fresh funding at post-money valuation of $1.4bXingji Meizu Group has raised $276m in an extended angel and Series A round.
New Hyundai Ioniq 7 electric SUV tests ahead of 2024 reveal
A pre-production prototype of the upcoming Hyundai Ioniq 7 has been pictured testing on public roads in Germany, ahead of a launch next year. The electric SUV, which will share much of its underpinnings with the recently revealed Kia EV9, will arrive as the third car in the brand’s futuristic line-up of electric cars. It… Continue reading New Hyundai Ioniq 7 electric SUV tests ahead of 2024 reveal
UAW members ratify labor deal with Mack Trucks
Mack Trucks said the new contract guaranteed “significant wage growth,” and covered its employees at facilities in Pennsylvania, Maryland and Florida. The United Auto Workers (UAW) union on Wednesday said about 3,900 members representing Volvo Group -owned Mack Trucks ratified a new five-year contract in the U.S., ending a 39-day long strike following the rejection… Continue reading UAW members ratify labor deal with Mack Trucks
Lotus’s path to profitability is proving rocky
Lotus is pitching itself as the coming electric performance luxury car brand ahead of its public listing later this year, but the Geely-owned company is facing a series of headwinds that has already forced it to pull back on its near-term ambitions. Lotus last week brought to the UK its new Emeya electric saloon, a… Continue reading Lotus’s path to profitability is proving rocky