Volvo eyeing for an IPO by the end of this year

Volvo is eyeing for a potential initial public offering by the end of the year, said the CEO of Volvo, Hakan Samuelsson to Reuters this Wednesday.

Volvo Cars executives including Samuelsson have devised a plan to become a fully electric car manufacturer by 2030. They also plan to sell 600,000 battery electric vehicles and build a European battery gigafactory.

Samuelsson has noted Volvo’s intention stating, “Our goal is to build the safest cars possible, using all available technology.”

Volvo Cars have planned vehicle subscription payment plans, insurance, and other products to be offered directly by the carmaker.

Volvo plans to sell vehicles through franchised retailers in the United States.

Samuelsson also revealed that Volvo Cars will be launching an SUV, the first of its new-generation electric vehicles, next year.