Volvo Vehicles is contemplating an preliminary public inventory providing on the Nasdaq Stockholm inventory trade later this yr.

The Swedish automaker — managed by China’s Zhejiang Geely Holding — abandoned merger plans with its Hong Kong-listed sister model, Geely Car, in February. Throughout that announcement Volvo hinted that it could search a list of its personal.

Volvo said in a statement Wednesday that the potential itemizing might be a “logical subsequent step” on the corporate’s “capital market journey.”

“[It] might create a chance for world traders to take part in our journey to grow to be a frontrunner within the fast-growing premium and clever electrical car section whereas persevering with to ship on what prospects count on from the Volvo model,” Volvo CEO Hakan Samuelsson mentioned within the assertion.

Earlier estimates of Volvo’s worth have ranged from $8.1 billion to $11.6 billion.

When requested by Automotive Information Europe in February about these figures, Samuelsson mentioned: “The valuation solely issues on the day that somebody is able to pay.”

He mentioned giving Volvo the prospect to be evaluated individually slightly than as part of a merger with Geely Auto can be useful.

“For those who maintain the businesses separate, they are often evaluated individually. I feel the capital markets see that as a bonus,” he said in the interview.

As well as, Samuelsson informed ANE that he believes Volvo can be attention-grabbing to traders for being a “quick transformer.” The automaker goals to be an electric-only brand by 2030.

“If we’d hypothetically need to be in the marketplace, this transition can be good for our valuation,” he mentioned.

Individually, Volvo mentioned it has prolonged the 70-year-old government’s contract till the top of 2022.

Since taking on as CEO of the automaker in October 2012, Volvo has been on a record-setting course.

Samuelsson’s regular hand by way of a number of crises — together with the present pandemic — has made him the automaker’s longest serving CEO within the final 30 years. He was named an Automotive Information Europe Eurostar in 2020.