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Volvo Cars raises over $200 million from new euro bond

Updated : February 20, 2019 11:22 PM IST

The funds from the bond sale add to Volvo's coffers at a time when carmakers need cash to develop electric and driverless cars and also face mounting costs from a prolonged US-China trade war and slowdown in large auto markets China and Europe.
Volvo, which is developing Polestar as an electrified performance brand and owns a stake in Chinese owner Geely's stablemate Lynk & Co, has repeatedly said it will finance electric and autonomous vehicle development from existing cash flows.
Volvo Cars raises over $200 million from new euro bond
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