Volvo Cars, the premium car maker, has raised EUR 500 million via a new bond issue under its newly established Euro Medium Term Note Programme. The issue further improves the company’s financial flexibility and diversifies its funding sources.
Håkan Samuelsson, Volvo Cars’ president and chief executive, has been awarded the prestigious Golden Steering Wheel award, honouring the year’s best performing manager in the car industry, according to German publishing house Springer.
Volvo Cars, the premium car maker, remains on track for a fourth consecutive year of record sales after another strong sales month in October. For the first 10 months, global retail sales amounted to 461,313 cars, up 8.6 per cent compared to a year ago.
Polestar, Volvo Car Group’s performance brand, has today revealed its future as a new standalone electric performance brand. Polestar confirmed plans for its first three models, a new purpose-built production facility in China and a customer-focussed route to market that will set a new industry benchmark for performance vehicles.
Volvo Cars, the premium car maker, and its owner Geely Holding today announce they will jointly invest RMB 5 billion (EUR 640 million) to support the initial phase of Polestar’s product, brand and industrial development.
Volvo Cars, the premium carmaker, continued its sales momentum in September with growth in all main regions, compared with the same month last year, and remains on track for a fourth consecutive year of record sales.