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Volvo Cars plans IPO and listing in Stockholm – markets

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Volvo Cars plans IPO and listing in Stockholm - markets

Volvo Cars this Monday announced its intention to conduct an initial public offering (IPO), culminating in the integration of the Nasdaq index in Stockholm, Sweden. The IPO of the company, which is controlled by the Chinese Geely, was already expected by the market, as the company itself has already announced its intentions to continue such an operation.

The company said in a statement that this is a way to “support the transformation of the company and its continued growth.” According to the information disclosed by the company, this IPO proposal should consist of “issuing new shares of Volvo Cars” with the aim of “reaching approximately 25 billion Swedish kronor”, which is equivalent to 2.5 billion euros.

In accordance with Financial Times newspaperAccording to sources close to the topic, as a result of this operation, the value of the company could be from $ 20 billion to $ 30 billion.

“Today is a milestone for our company with the announcement of Volvo Cars’ intention to integrate Nasdaq Stockholm,” said Volvo Cars CEO Håkan Samuelsson in a statement. “The IPO proposal marks a new chapter for Volvo Cars and we invite Swedish and international investors to participate in our future growth and value creation.”

According to the official, “the decision to hold an IPO will help strengthen the brand and accelerate the transformation strategy,” citing total electrification as an example.

Geely, which acquired Volvo Cars in 2010, will remain the company’s largest shareholder following the completion of its IPO. AMF and Folksam, which own 2.2% of Volvo Cars, intend to continue to participate as shareholders of the company following their listing on the stock exchange.

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“We support the transformation and growth of this iconic Swedish brand during an unprecedented period in our industry. Over the past decade, Volvo Cars has become one of the fastest growing car manufacturers in the world. We will continue to support Volvo Cars as a majority shareholder. “In this never-ending story of global success,” says Eric Lee, “chairman” of the Volvo Cars board of directors, who is also the chairman of China’s Geely.

This announcement by Volvo Cars came about a week after Polestar. Volvo electric vehicle brand announces its intention to go public. According to Bloomberg, the SPAC deal values ​​the company (including debt) at about $ 20 billion (€ 17 billion at current exchange rates). Part of the amount (approximately 857 million euros) will be used to launch three new Polestar tram models.

China’s Geely has already tried to bring Volvo Cars to the stock market in 2018. However, these plans were abandoned due to the trade war between the United States and China.

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Economy

Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners

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Everything has been delivered.  10 Bugatti Centodieci are already in the hands of the owners

OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.

“The Centodieci combines all the values ​​of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.

This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.

This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.

Recall that each unit costs the owners eight million euros before taxes.

Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.

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Economy

The first Dacia hybrid. “The cheapest hybrid family on the market”

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The first Dacia hybrid.  "The cheapest hybrid family on the market"

BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.

The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.

The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”

Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.

Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.

Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.

Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…

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Economy

See how Tesla tests its electric Semi truck in the worst-case scenarios

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Tesla Semi camião elétrico testes

Tesla has finally been able to bring its long-awaited Semi to market. This electric truck promises to revolutionize transportation and bring all the unique characteristics of this type of electric vehicle to this class of vehicles.

Now that the first units have been delivered, there is hope that they will finally be mass-produced and reach more transport companies. With so many promises to be kept, a new video is now emerging showing Tesla testing its Semi truck under worst-case scenarios.


Tesla Semi is already on the market

Like all Tesla electric vehicles, Semi follows the same line of creating a unique design associated with a platform with the most modern technology available. The proof is in what was presented to the public and surprised most people.

To prove the quality of this new proposal, Tesla published in your LinkedIn account new video. In it, he reveals some of the testing he's done to determine the strength and quality of the Semi's design and its (potential) durability.

Tests to prove its durability

It has been revealed that the Tesla electric truck is subjected to numerous tests and its application in the worst scenarios that drivers may face. It doesn't stop at the ruggedness of the Semi's designs, but goes further and focuses on the motors and batteries themselves.

This is the proof that many have been waiting for to ensure that this new proposal is not limited to a lot of autonomy. Its resistance is great and will provide greater durability, further enhancing the Semi's value and performance.

high quality electric truck

Tesla has already showcased the Semi's quality with a video showing its truck driving roughly 500 miles on just one charge. The big news here is that he managed to make this long journey with a maximum load of about 37 tons.

Now Tesla remains to widely place the Semi on the market. At the moment, only a few companies have access to this new product, with a very long list of pending deliveries, who want to start mass-using this electric truck offering.

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