Sep 10, 2018

Volvo IPO reportedly delayed over trade war fears

Chairman of Chinese-based Geely Group, Li Shufu, speaking at a Volvo plant in 2013. Photo: Nicolas Maeterlinck/AFP via Getty Images

Chinese auto manufacturer Geely, which acquired Volvo in 2010, will delay its plans to take the Swedish car company public over fears of a global trade war, reports the FT.

The big picture: Volvo has already moved production of its XC60 sports utility vehicles for the U.S. market from China to Sweden to avoid tariffs. But with President Trump threatening to slap a 25% tax on EU auto imports amid further escalation with China, Geely was concerned that investors would see the carmaker's stock drop after its IPO — due to be the largest on the Swedish stock market since 2000.

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