United States

Esha Vaish

Truckmaker Volvo to take $778 million emissions hit

Jan 03 2019

Sweden's Volvo is setting aside 7 billion Swedish crowns ($778 million) to cover costs related to its admission in October that its truck and bus engines could be exceeding limits for nitrogen oxide emissions.

Swedish fund AP1 exits Volvo Cars as sees no IPO around corner

Dec 21 2018

STOCKHOLM Sweden's national pension fund has sold its preference shares in Volvo Cars after concluding it saw no clear intention to list within the next 12 months from the Geely-owned carmaker.

UPDATE 1-Veoneer finance chief to leave after only a few months

Dec 20 2018

STOCKHOLM, Dec 20 Veoneer finance chief Mathias Hermansson has decided to leave the company having assumed the post only in April when the electronic car products maker was spun out of parent Autoliv .

Truckmaker Volvo builds safety stockpiles to prepare for no-deal Brexit

Dec 20 2018

STOCKHOLM Sweden's AB Volvo has triggered its hard Brexit contingency plans, with the truckmaker building "safety stock" with its British dealers and considering alternative shipping routes to minimise disruption.

SKF settles last carmaker lawsuit over ball bearings cartel

Nov 30 2018

STOCKHOLM SKF has reached a settlement with Daimler over the Swedish engineering group's alleged participation in a ball bearings cartel, drawing a line under its disputes with automakers over this issue.

Goldman Sachs, Morgan Stanley top picks to lead Swedish buyout firm EQT's IPO: sources

Nov 29 2018

STOCKHOLM Goldman Sachs and Morgan Stanley are expected to lead preparations for the planned IPO of Swedish buyout firm EQT, two sources told Reuters, after the company earlier this month invited banks to bid for the mandate.

Volvo Cars has no current plans for stockmarket listing: CEO

Nov 29 2018

STOCKHOLM/LOS ANGELES Volvo Cars, owned by China's Geely, has no current plans to go for a stockmarket listing, its chief executive said, more than two months after the Swedish carmaker postponed its flotation blaming trade tensions and an automotive stocks downturn.

Volvo Cars delays plan to build Lynk & Co vehicles in Belgium

Nov 23 2018

STOCKHOLM Volvo Cars has decided to delay building Lynk & Co branded cars at its plant at Ghent in Belgium because of increased macro-economic uncertainty, a spokesman for the Geely-owned [GEELY.UL] Swedish carmaker said on Friday.

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