|Bid||222.20 x 0|
|Ask||222.40 x 0|
|Day's Range||220.80 - 222.80|
|52 Week Range||142.20 - 241.50|
|Beta (5Y Monthly)||1.21|
|PE Ratio (TTM)||19.26|
|Forward Dividend & Yield||6.00 (2.71%)|
|Ex-Dividend Date||Jun 30, 2021|
|1y Target Est||N/A|
Volvo Car Group, owned by China's Geely Holding, announced https://www.media.volvocars.com/global/en-gb/media/pressreleases/283261/volvo-car-group-and-northvolt-to-join-forces-in-battery-development-and-production plans on Monday for a joint venture with Swedish battery maker Northvolt to develop sustainable batteries for its electric cars and set up a gigafactory for production. The companies aim to set up a research and development centre in Sweden to begin operations in 2022 and start a gigafactory in Europe with a potential capacity to produce up to 50 gigawatt hours (GWh) per year in 2026. "Working closely with Northvolt will also allow us to strengthen our in-house development capabilities," said Håkan Samuelsson, chief executive at Volvo Car Group.
Volvo Cars and Northvolt will set up a joint venture to build a new battery gigafactory in Europe and develop energy cells for the Swedish premium carmaker and its electric-only sister brand Polestar. The partnership, announced on Monday, will aim to build a plant with capacity of up to 50 gigawatt hours a year — equivalent to batteries for about 500,000 cars — to start production in 2026 as part of Volvo’s push to sell only fully electric cars by the end of this decade. Volvo will buy an additional 15GWh of batteries from Swedish start-up Northvolt from 2024 out of its first gigafactory, to be built just south of the Arctic Circle in Sweden.
Volvo Cars, owned by China's Geely Holding, will halt production at its Belgian plant in Ghent over next week, it said on Thursday, citing a global shortage of semiconductor chips. The chip shortage has hit automakers globally and stems from a confluence of factors as carmakers compete with the consumer electronics industry for supplies. "We have taken the decision to stop production in Ghent during week 25 as a consequence of the chip shortage," Volvo Cars said in an emailed statement.