Volvo is undoubtedly a well-known car brand, yet it is often not known who owns the car manufacturer and where the company is located. After several changes of ownership, the company currently belongs to Geely Holding.
History of the car manufacturer: Who owns Volvo?
The car manufacturer Volvo is currently owned by the Chinese Zhejiang Geely Holding (Geely Holding). The company is headquartered in Gothenburg, Sweden.
- In 1927, the first car was manufactured and also sold at the Gothenburg plant.
- Until 1999 Volvo Cars was part of the Swedish Volvo Group.
- From 1999, the carmaker was part of Ford Motor Company before being rescued from bankruptcy by a Chinese investor.
- In bad economic times, a Chinese investor invested in the Swedish car brand and saved it from bankruptcy. Since 2010, Volvo has therefore belonged to the Chinese Zhejiang Geely Holding (Geely Holding).
- Following the investor takeover, Volvo opened its first plant in China in 2013.