Volvo

Gothenburg-based Volvo Car said on October 29 that their Initial Public Offering (IPO) was oversubscribed, ''as it attracted strong interests from the institutional investors'' in Sweden's Stockholm. Reportedly, the IPO was priced at 6.22 dollars per share, and the company wishes to distribute nearly 380 million new shares. Once shares are sold, the company will also use the money for its electric-only model line-up. 

The suspension of deep seabed mining has been backed by automakers like BMW and Volvo despite the minerals being used in electric vehicle batteries and products. Reportedly, the companies cite the importance to protect ocean ecosystems that are being tampered by overfishing, noise pollution and climate change. Besides, companies like Samsung and Google have offered their support. Although ocean-mining is in infancy, the companies proposed to… read-more

Volvo Cars is eyeing to collaborate with Chinese MNC Geely Auto to develop powertrain operation including next-gen technology for vehicles. Aimed at providing internal combustion engines and transmissions to automobile makers, the merger will jointly source electric motors and connectivity solutions to generate valuable synergies. Besides, the collaboration also includes developing Autonomous Driving to enhance the experience. Volvo CEO Hakan… read-more

Eicher Motors on August 13 said its subsidiary Volvo Eicher Commercial Vehicles (VECV) is acquiring Volvo Group India for Rs 100.50 crores to manufacture, assemble, distribute, and the sale of Volvo buses in India. They will also be looking into providing services and spare parts. The manufacturing plant at Hoskote, Bangalore, and employees of VBI will be transferred to VECV.