STOCKHOLM : Volvo Cars is hoping investors will buy into its long-term electric vehicle strategy and see past supply chain worries and questions about its shift to battery power as it gears up to make its market debut in Europe's biggest IPO so far this year.
But concerns over how much control Geely would retain over the listed business, problems in the global supply chain and worries Volvo could be caught in trade wars involving China have curbed investor enthusiasm. "But even if it's not priced as expected it's encouraging for other companies as well. The COVID-19 pandemic was an inflection point for electric mobility," he added.
"It has been a really tricky IPO market over the last few months, so it made sense to downsize the deal and price it sensibly. That's how the price discovery process works - this is good," he added.
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