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The heavy truck and construction equipment conglomerate AB Volvo and Volvo Cars have been independent companies since AB Volvo sold Volvo Cars to the Ford Motor Company in 1999. Volvo Cars has been majority-owned since 2010 by the Geely Holding Group. Both AB Volvo and Volvo Cars share the Volvo logo, and cooperate in running the Volvo Museum. With approximately 2,300 local dealers from around 100 national sales companies worldwide, Volvo Cars' largest markets are China, the United States, Sweden and other countries in the European Union. Most of its worldwide employees are based in Sweden. Volvo is a subsidiary of the automotive company Geely.
In the United States, Volvo paid $19.6 million in fines for missing its Corporate Average Fuel Economy targets for the 2010–2014 model years. In July 2017, Volvo announced that new models launched from 2019 onward would be fully electric or hybrid-electric, heralding the end of production of nearly a century of Volvo vehicles powered solely by the internal combustion engine. Volvo, however, will continue to produce non-electric, non-hybrid cars from models introduced before that year but will discontinue them once the non-hybrid, non-electric cars receive a facelift or complete redesign. In 2019, Volvo announced that it plans to produce only electrified cars from the year 2040 onwards.
Volvo was founded upon the concept of safety in 1927 in Gothenburg, Sweden. The company was created as a subsidiary company 100% owned by SKF (Swedish: Svenska Kullagerfabriken). Assar Gabrielsson was appointed the managing director (CEO) and Gustav Larson as the technical manager.
The trademark Volvo (which is Latin for 'I roll') was first registered by SKF on 11 May 1915 with the intention to use it for a special series of ball bearing for the American market but it was never used for this purpose (however in the application for the trademark, it was also designated for the purpose of automobiles). The SKF trademark as it looks today was used instead for all the SKF-products. Some pre-series of Volvo-bearings stamped with the brand name 'Volvo' were manufactured but never released to the market, and it was not until 1927 that the trademark was used again, now as a trademark and company name for an automobile.
The first Volvo car left the assembly line on 14 April 1927, and was called Volvo ÖV 4. After this the young company produced closed top and cabriolet vehicles, which were designed to hold strong in the Swedish climate and terrain. In the registration application for Volvo logotype in 1927, they simply made a copy of the entire radiator for ÖV4, viewed from the front. Presented in 1944 the Volvo PV444 passenger car only entered production in 1947. It was the smallest Volvo yet and was to take the lion's share of Volvo production, as well as spearheading their move into the profitable American market. More details
Volvo Cars is a Swedish luxury automobile marque. It is headquartered in Torslanda in Gothenburg, Sweden. The company manufactures and markets sport utility vehicles (SUVs), station wagons, sedans and compact executive sedans. The Volvo Group was founded in 1927 as a subsidiary of the ball bearing manufacturer SKF. When AB Volvo (now a separate company) was introduced on the Stockholm stock exchange in 1935, SKF sold most of its shares in the company. Its cars are marketed as being safe, solidly built and reliable while emphasizing on their Swedish heritage and design.
In the United States, Volvo paid $19.6 million in fines for missing its Corporate Average Fuel Economy targets for the 2010–2014 model years. In July 2017, Volvo announced that new models launched from 2019 onward would be fully electric or hybrid-electric, heralding the end of production of nearly a century of Volvo vehicles powered solely by the internal combustion engine. Volvo, however, will continue to produce non-electric, non-hybrid cars from models introduced before that year but will discontinue them once the non-hybrid, non-electric cars receive a facelift or complete redesign. In 2019, Volvo announced that it plans to produce only electrified cars from the year 2040 onwards.
Volvo was founded upon the concept of safety in 1927 in Gothenburg, Sweden. The company was created as a subsidiary company 100% owned by SKF (Swedish: Svenska Kullagerfabriken). Assar Gabrielsson was appointed the managing director (CEO) and Gustav Larson as the technical manager.
