Volvo Cars sales in May declined only 2.5 percent in the US

Volvo car images

Volvo Cars USA reports 9,519 cars sold in May 2020, making it a strong month-over-month result, dropping only 2.5 percent. Overall year-to-date sales declined 18.2 percent Sales were down just 2.5 percent, and the number reflects a strong result from the automaker’s business Coronavirus restart plan, swift activation of digital tools to support consumers, and […]

Daimler partners with Volvo for $1.3 billion Hydrogen fuel-cell joint venture

Images of Volvo V90 Cross Country

German automaker Daimler has announced on Tuesday that it is collaborating with Swedish auto giant Volvo to establish a $1.3 billion joint venture to make Hydrogen fuel-cell for trucks. Both the automaker are looking for green mobility options aggressively and the joint venture comes as part of their upcoming strategy. As Daimler Truck chairman Martin […]

Volvo Cars in talks with California to reach emissions deal

Images of Volvo Concept 40 Series EV Electric

Volvo Cars confirmed that it is in talks with California to reach a voluntary emissions agreement. Mary Nichols, who heads the California Air Resources Board, revealed earlier Volvo planned to join Ford Motor, Honda Motor, BMW AG and Volkswagen AG . In July, the four struck an agreement with California to embrace emissions standards that were more strict than the Trump […]

Geely Holding warns of coronavirus crisis after 35% 2019 profit drop

Geely automobile holding

Chinese automaker Geely Automobile Holdings on Monday stated 2020 may be one of the “most difficult years” in its history, as pressure emerging from the coronavirus crisis on production and sales is likely to continue in the near future. The automaker also said the decline in sales drove net profit down 35% in the last year when the country’s […]

Geely Holdings considering merger deal with Volvo Cars

Geely Holdings and Volvo Cars

Volvo Cars and its owner Geely Holding stated Monday they are thinking about combining their businesses to form a company that would speed up “financial and technological synergies between the two companies”. A combined company would maintain the unique identity of each of the brands Volvo, Geely, Lynk & Co and Polestar, Volvo’s electric brand. […]

Volvo raises $215 million in bond issue months following failed IPO

Images of Volvo Concept 40 Series EV Electric

Sweden’s Volvo Cars has raised some 2 billion Swedish crowns ($215 million) in a bond issue just five months after the Chinese-owned carmaker terminated plans for a stock market flotation, blaming trade tensions and a downturn in the sector. Carmakers like Volvo face heavy expenditure in developing electric and driverless cars, just as diesel engines […]