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

The Swedish automaker, which is managed by China’s Zhejiang Geely Holding, abandoned merger plans with its Hong Kong-listed sister model, Geely Vehicle, 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 buyers to take part in our journey to turn into a pacesetter within the fast-growing premium and clever electrical car phase whereas persevering with to ship on what clients 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 possibility to be evaluated individually relatively than as part of a merger with Geely Auto can be helpful.

“When you 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 instructed ANE that he believes Volvo can be attention-grabbing to buyers for being a “quick transformer.” The automaker goals to be an electric-only brand by 2030.

“If we’d hypothetically need to be available on the market, 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 on 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.