Day: November 1, 2021

Geely Holding Welcomes New Investors in Volvo Cars


PHOTO (select to view enlarged photo)

2021 October 29, Hangzhou. Zhejiang Geely Holding Group (Geely Holding), China’s largest private-owned automotive group, today welcomed new equity investors to Volvo Cars following the completion of an initial public offering on the Nasdaq Stockholm exchange valuing the Swedish premium automotive group at SEK 158 billion.

Geely Holding, which acquired Volvo Cars in 2010, has overseen a significant increase in the value of its Scandinavian subsidiary in a decade which has seen the automaker expand its manufacturing footprint to include plants in China and the US, achieve record volume sale and to embark of a transition strategy to full electrification.

Eric Li, Founder and Chair of both Geely Holding and Volvo Cars, said: “We are proud of the success achieved by Volvo Cars, which has flourished as part of Geely Holding Group to become the fastest transformer in the global premium segment. By delivering on this strategy as a newly

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Toyota’s Official Museum Just Added an NSX

toyota owned honda nsx

Toyota Automobile Museum / Facebook

The Toyota Automotive Museum in Nagakute city, Japan, is in part an archive of Toyota’s greatest and most rare cars. It is also, however, a fully-developed museum of the automobile as a whole, 0ne that leaves plenty of room for excellent works from Toyota’s closest competitors. That space is reserved for icons, the sort of cars that are either exceptionally rare or exceptional in what they advanced to the world as a common car. It means Toyota has made room for a Model T, a first-generation Corvette, and a Bugatti Type 57.

The exhibit has a space for revolutionary contemporary sports cars, too. That section already includes a GT-R, an NA Miata, and a Toyota-designed Lexus LF-A, but there was room for one more. The Toyota museum chose to honor another close competitor with the space, bringing in a pristine first-generation Honda NSX.

While

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