Who Are Volvo Owned By?

Does Ford still own Volvo?

Automobile manufacturer Volvo Cars, also based in Gothenburg, was part of AB Volvo until 1999, when it was sold to the Ford Motor Company.

Since 2010 it has been owned by the Chinese multinational automotive company Geely Holding Group..

Are Volvos safer?

Staying true to their DNA, Volvo cars are one of the safest cars in the world. And in 2017, their flagship SUV Volvo XC90 was bestowed with the title of ‘Safest Car in the World’ by IIHS. With a host of innovative and advanced safety features onboard, Volvo XC90 becomes an ideal vehicle for you and your family.

Is Geely a good car brand?

It’s relatively slow for modern standard and the fuel economy isn’t impressive. That said, I have driven several Chinese cars and I would say, Geely is one of China’s best automaker. Geely release new a car(GC 9) this year and it looks pretty good. or maybe the best one made by china.

Did Geely buy Volvo?

Zhejiang Geely Holding Group, which bought Volvo Cars in 2010, announced a deal on Wednesday that would make it the largest shareholder in AB Volvo, which makes trucks.

Why did Volvo sell to China?

Samuelsson offered Geely Volvo’s technical excellence, especially in safety, and a well-established brand—in a word, credibility. Both men were eager to embrace technology and shake up the industry. Li wanted a harder push into China, where Volvo sold only 30,522 vehicles in 2010.

Is Volvo owned by a Chinese company?

Volvo Car Group (Volvo Cars) is owned by Zhejiang Geely Holding (Geely Holding) of China. Volvo Cars formed part of the Swedish Volvo Group until 1999, when the company was bought by Ford Motor Company. In 2010, Volvo Cars was acquired by Geely Holding. … Most of the dealerships are independent companies.

Does Ford still own Cummins?

Cummins set the record straight in their May 2013 newsletter, outlining that Ford Motor Company had purchased 10.8% of the diesel engine manufacturer in 1990. In 1997, those shares were bought back, and as such Ford has not owned a stake in Cummins since.

Does Geely own Lotus?

Lotus Cars is an iconic British producer of sports and racing cars. The first Lotus car was born in 1948 and in June 2017, Lotus Cars became majority owned by Zhejiang Geely Holding Group.

Who owns Geely?

Zhejiang Geely Holding GroupGeely/Parent organizations

How long did Ford own Volvo?

1999Ford paid $6 billion in 1999 to acquire Volvo, leaving the company with a substantial loss on its investment. Ford has shifted its strategy to focus on its core brands and has already sold off other luxury brands, including Jaguar and Land Rover to the Tata Group of India for $2.3 billion a year ago.

Who manufactures Volvo?

the Zhejiang Geely Holding GroupWho Owns Volvo? Volvo is currently owned by the Zhejiang Geely Holding Group, a company which owns over 15 other vehicle makers.

Is Volvo still made in Sweden?

The first Volvo OV 4 rolled off the automaker’s production line in 1927. Today, Chinese automotive giant Geely owns Volvo. … Despite this, the majority of Volvo’s employees are still located in Sweden, and the company still has headquarters and some manufacturing there.

When did China buy Volvo?

2010It was the parent company, Zhejiang Geely Holding, that purchased Volvo Cars in 2010, not the Geely Auto Group.

Does China own General Motors?

SAIC General Motors Corporation Limited (More commonly known as SAIC-GM; Chinese: 上汽通用汽车; formerly known as “Shanghai General Motors Company Ltd”, “Shanghai GM”; Chinese: 上海通用汽车) is a joint venture between General Motors Company and SAIC Motor that manufactures and sells Chevrolet, Buick, and Cadillac brand automobiles …

Who makes the engines for Volvo?

The Volvo Engine Architecture (VEA) is a family of straight-three and straight-four automobile petrol and diesel engines produced by Volvo Cars in Skövde, Sweden, since 2013 and Zhangjiakou, China since 2016.