two largest Chinese radio call taxi application to merge
In June 2010, Tesla became the first American car company to go public since the listing of Ford Motor in 1956 Less than seven years later, the market value of Tesla has now surpassed that of Ford, closing at 49 billion Monday au Ford over 46 billion.
The same year that Tesla joined the Nasdaq, Ford was busy trimming its assets, and the Swedish brand Volvo was part of the extra weight, he decided to pay, selling Chinese automaker Zhejiang Geely unit for January 8 billion.
To allay fears that Volvo jobs would be transferred to China, leaders of Geely promised to keep the two separate companies, but with recent whispers that Volvo will be spun off from its Chinese owner via an IPO, the relationship of couple was in the spotlight again.
The weekly time argued that Volvo was acting as a public company for several years the Swedish automaker publishes quarterly reports and financial health has been more transparent with a number of bond issues in recent years selling $ 500 million of preferred shares to a group of Swedish investors last December also suggested that Volvo was a step closer to an IPO on the stock market analysts said it could happen this year .
But Volvo was opaque on the timing of enrollment plan Clearly, IPO is an option, as we said when we issued preferred shares late last year ago however, no current plans, company representatives told reporters recently, adding that it is a decision of Geely.
Despite promises to allow Volvo to operate independently, Geely has already integrated with a variety of ways, for example, the duo has created a platform for the development of compact cars, which led to the creation of a Lynk Co. brand new Geely
Lynk is distinguished in its business model of the new car won t be available at many dealerships, but will be sold online and delivered to the customer's door An application was developed to control many features of the car, including the sharing of electronic keys, which Lynk a vehicle perfectly suited to sharing booming economy of China.
Hakan Samuelsson, CEO of Volvo, said the two companies share the development of critical components and they can do so without jeopardizing the separate identities of both brands concern when there were first Geely bought Volvo it tarnish the reputation of the latter, see the WiC55 Lynk model is created in the same Chinese factory Volvo 40 series and Autonews speculates that when Lynk is ready for launch in Europe in 2018, the units will be produced at Volvo's European plants.
According to the Financial Times, this marks the first time that domestic and foreign Marqués were manufactured on the same production lines in China, he writes, the move to bring production under one roof is the latest step in efforts to strengthen connections between Volvo and Geely transferring European know-how to Geely, while maintaining the activity and reputation of the Swedish automaker.
The investment Geely Volvo seems to have defied the skeptics Its 2016 net profit more than doubled to 1 billion 739 million RMB5, its biggest gain in eight years The FT suggests the growth spurt is due to the introduction of a new line of sport utility vehicles for the Chinese market, which has been designed by former Volvo designer Peter Horbury demand for SUVs in China has increased in recent years, see WiC313 earlier this year, Geely was also included in the Hang Seng index, the first Chinese automaker to add to the basket of most prime Hong Kong stocks.
would nevertheless an IPO Volvo is a decisive interesting test for how investors consider the management of Geely Scandinavian automaker Successful registration also suggests that fund managers agree with the direction that Volvo is now able to challenge BMW and Mercede in the luxury segment.
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