Samuelsson stays with Volvo until 2022, no IPO plans

Volvo's CEO has extended his contract to 2022, the Swedish premium carmaker reports. "The extension provides the company with management continuity as it continues to transform itself into a global and diversified mobility service provider", the press release reads.

Under the umbrella of its new company mission Freedom to Move, Volvo Cars aims to offer a wide range of additional safe, personal and sustainable mobility services rather than merely selling cars to end consumers.

Today, Samuelsson also told Reuters that the IPO plans have been postponed indefinitely due to the escalating trade tensions and the negative trend of automotive stock.

Picture copyright: Volvo Cars, 2018