Geely Eyes Over $30 Billion Volvo Valuation, Sources Say
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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