Volvo says electric car unit Polestar could list one day - magazine

FILE PHOTO: Volvo Cars U.S. production plant is pictured in Ridgeville, South Carolina, U.S. June 20, 2018. REUTERS/Randall Hill - Copyright RANDALL HILL(Reuters)

By Reuters

Published on 24/01/2019 - 12:34•Updated 19/04/2024 - 01:42

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FRANKFURT (Reuters) - Volvo Cars could seek external investors for its Polestar electric car brand and list the unit on the stock market, Chief Executive Hakan Samuelsson told Germany's Capital magazine.

"This could very well be a listed company one day," Samuelsson said about Polestar. As a first step, Volvo Cars could tap financial investors to help stem the costs of developing new electric powertrains, he told Capital magazine.

Volvo had no immediate comment.

The Swedish carmaker, which is owned by China's Geely [GEELY.UL], abandoned plans for listing its main Volvo brand in September, blaming trade tensions and an auto industry downturn.

(Reporting by Edward Taylor; editing by Jason Neely)

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