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Volvo Cars raises €500M for electrification through second green bond issue

Green Car Congress

The bond was oversubscribed three-times, despite challenging global market conditions. All proceeds are earmarked for funding and accelerating the company’s transformation towards becoming a fully electric carmaker by 2030 and becoming climate-neutral and circular by 2040.

Volvo 329
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Volvo Cars successfully places first green bond, raises €500M

Green Car Congress

The proceeds of the bond will be used to fund the design, development and manufacturing of fully electric cars in line with the company’s recently established Green Finance Framework. The settlement date is expected to be 7 October 2020 and the bonds will be listed on the Luxembourg Stock Exchange.

Volvo 514
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Canoo Pickup, Kia EV6, Honda and Mini EV Plans: EV Week in Review – Mar 9-15

EV Adoption

Honda of America plans to sell 2 fully electric SUVs in 2024, Based on GM’s Ultium Platform – Honda confirmed plans to sell two all-electric SUVs in the US for the 2024 model year, and it soon will offer hybrid gas-electric versions of its top-selling models. – March 12, via Commercial Appeal.

Kia 52