Volvo Cars is preparing to go public and could announce details of its plans as soon as Monday, according to a report by the Wall Street Journal on Sunday. The car manufacturer could be valued at over $25 billion, sources said.

The company announced it reached a record for most cars sold in the first half of a year in H1 2021 with 380,757 vehicles sold globally. It also revealed plans to become a fully electric carmaker by 2030.