On Friday the 29th of October, the Swedish car company Volvo launched on the Stockholm stock exchange. This has now valued the car manufacturer in the region of £16 billion. Volvo is majority-owned by the Chinese firm Geely.
The share price offered was 53 Swedish crowns, which then jumped to 65 crowns by the end of play on Friday. The plan for Volvo was to raise funds to help it achieve its target of going fully electric by 2030, as stated by the Volvo boss Hakan Samuelsson.
In 2010 Volvo was sold to Geely by the US car giant Ford for only $1.8 billion. This acquisition managed to turn around Volvo’s fortunes as it managed to enter and be one of the dominant players in the SUV market. Geely is expected to remain the biggest shareholder after its public listing.
Mr. Samuelsson said on Friday, “Our industry is changing and we strive to lead that transformation. That is why Volvo Cars have an ambitious strategy to become fully electric by 2030.” He also added, “Friday’s listing will help get us there.”
Leading figures in the financial market are mostly saying the same thing, Volvo’s strong listing will make it a major player in the electric vehicle market. One negative aspect of the listing pricing is it is below market forecast due to the worldwide shortage of semiconductors. This isn’t even close compared to Tesla’s valuation after they went public on the stock markets.
Electric is definitely the way to go
It’s inevitable now that car drivers all over the world will have to start the transition to switching to hybrids and fully electric cars and doing away with pure fossil fuel, petrol, and diesel vehicles. Governments across the globe are coming to terms with this and setting targets and goals in achieving ambitious expectations.
Already in the major UK cities, ULEZ (Ultra Low Emission Zone) is expanding, meaning more and more drivers are fast becoming affected by having to pay a daily charge for driving in ULEZ controlled areas.
The only way to combat this is by upgrading your old petrol or diesel vehicle with an upgraded vehicle registered after 2005 if petrol and diesel vehicles registered after 2015.
Options are still available
If you feel the time is not right at this moment in time to switch to a hybrid or electric used vehicle, the best you can do now is to at least consider upgrading your old car with a ULEZ compliant one. This way you will have the peace of mind that the car you will be driving is emitting less harmful emissions and you are doing your bit for the environment. With this in mind, by choosing to buy a used compliant ULEZ car you’ll be saving money on charges if you are having to commute every day within a ULEZ area and if you forget to pay then you’ll be hit with a steep penalty charge too. And when you are ready to upgrade, Best Price Car Sales will be more than happy to help by giving you the option to part-exchange your old car.
Used car offers and deals
Our company also delivers all of our used cars free of charge anywhere in the UK, be it home or work. We also offer a free collection service for your old car too. In this increasingly competitive used car market, Best Price Car Sales who are based in Southampton, are front-runners in providing the best offers, including paying nothing for up to 2 months, free 5 days fully comprehensive insurance, to assist you in being covered while you shop around for the best car insurance deals.
Even during your finance term, preferably after at least 24 monthly payments, we can settle your existing car finance and upgrade it for a newer used hybrid or a newer used electric car.
To find out more about our latest offers and current deals, you can call us on 02382 549 222 and speak to one of our friendly advisors or if you require an instant decision on getting car finance, simply click here to get approved now.