Volvo Car AB (publ) (“Volvo Cars”) announces that the company, in accordance with the previously communicated final terms and timetable, has completed the distribution of 62.7 percent of its shareholding in Polestar Automotive Holding UK PLC (“Polestar”) to Volvo Cars’ shareholders in the form of Swedish Depositary Receipts (“SDRs”). Polestar has American Depository Shares (“Polestar Class A ADSs”...
Volvo Cars reports global sales of 65,838 cars, up 27 per cent compared to the same period last year. The sales increase was primarily driven by a strong performance in Europe as well as the company’s fully electric small SUV, the EX30.
Volvo Cars is today announcing that Javier Varela, Chief Operating Officer and Deputy CEO, has decided to pursue a new opportunity outside the company. Javier Varela has been a valued member of the Executive Management Team since 2016 and has served as COO and deputy CEO since 2022, overseeing several significant milestones for Volvo Cars.
Volvo Cars today successfully issued its fourth green bond and raised EUR 500m from a diverse group of global investors. The bond was oversubscribed four times underscoring strong investor support for Volvo Cars’ transformation journey. The initiative further supports the company’s aim to have 100 percent of its outstanding debt linked to the Green Financing Framework, or in a sustainability-linke...
Volvo Car AB (publ)’s (“Volvo Cars”) distribution of a portion of the shareholding in Polestar Automotive Holding UK PLC (“Polestar”) to Volvo Cars’ shareholders, has resulted in a temporary change in the number of shares and votes in Volvo Cars. As of 30 April 2024, the total number of shares and votes in the company amounts to 5,959,048,358.
Volvo Cars today reports an operating profit (EBIT) excluding joint ventures and associates of SEK 6.8 billion for the first quarter of 2024, an increase of 8 per cent versus the same period in 2023. The corresponding EBIT margin came in at 7.2 per cent, up from 6.6 per cent a year earlier.
Volvo Cars today launches a new philanthropic fund with the ambition to positively impact a million lives over time through support initiatives in the communities in which we operate.
