F - Volvo Cars Ownership And Possible IPO

• Volvo Cars is owned by Chinese Zhejiang Geely Holding Group, not Volvo AB (VLVLY), nor Geely Auto (GELYF).
• In 2020, Volvo Cars sold 661,713 vehicles, with China being the biggest market (25% of sales).
• Chinese influence is no doubt supportive of Volvo Cars' aggressive plans to become solely BEV-focused by 2030; Volvo cars is also addressing green manufacture.
• Zhejiang Geely Holding Group is looking for public exposure to Volvo, probably via an IPO but Zhejiang Geely Holding Group owns many auto companies, with lots of related party relationships.
• Volvo Cars is sorting out related party ownerships in positioning the company for public listing. More clarity is needed before investment in Volvo Cars makes sense.

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