Caixin
BUSINESS & TECH

Geely Eyes Over $30 Billion Volvo Valuation, Sources Say

Geely took control of Volvo Cars in a $1.8 billion deal in 2010. Photo: VCG
Geely took control of Volvo Cars in a $1.8 billion deal in 2010. Photo: VCG

The Chinese owner of Volvo Cars is working on an initial public offering of the luxury car unit that could value the Swedish carmaker at more than $30 billion, sources close to the matter told Caixin.

Zhejiang Geely Holding Group Co., the private auto group that also controls British sports carmaker Lotus, expects a Volvo valuation of between $30 billion and $40 billion in the potential listing, a person close to Geely said.

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