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Volvo CEO says focussed on electrification, automation regardless of IPO

Reuters  |  LONDON 

(Reuters) - is working on how to meet the challenges of electrification and self-driving cars and has the funds to do so regardless of whether the firm launches a flotation, its boss said on Wednesday.

"We need to address these issues with electrification and automated drive," Hakan Samuelsson said at a conference in on Wednesday.

"That is the next step and we are doing that. Listed or not listed really doesn't change anything for us as a company. We focus fully on that and we have the financial resources right now to be able to do that."

China's Zhejiang Geely Holding Group, the owner of Cars, has hired three for an initial public offering (IPO) this year that could value the Swedish carmaker in a broad range of $16 billion to $30 billion, a person familiar with the matter told last week.

(Reporting by Costas Pitas, editing by Sarah Young)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 16 2018. 14:43 IST