Company overview
Volvo Car AB, trading as Volvo Cars, is a Swedish multinational manufacturer of luxury vehicles. Founded in 1927 in Gothenburg, Sweden, the company began as a subsidiary of SKF. The Volvo logo, originally designed for ball bearings in 1915, was first used for automobiles in 1927. Volvo initially focused on producing closed-top and cabriolet vehicles designed for the Swedish climate. The company expanded internationally in the 1950s, beginning with exports to the United States. In 1999, AB Volvo sold its automobile division to Ford Motor Company, and in 2010, Geely Holding Group acquired Volvo Cars. Since then, Volvo has continued to develop its product line and expand into new markets. In 2015, Volvo surpassed half a million vehicles sold annually. The company announced plans to phase out fossil fuel-only cars by 2025 and transition entirely to electric vehicles by 2030. In 2021, Volvo Cars’ shares were listed on the Nasdaq Stockholm stock exchange. As of 2023, Volvo is exploring a potential boycott due to Geely’s operations in Russia.
