15 Facts About Volvo AB


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

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Since 2010 Volvo AB Cars has been owned by the automotive company Geely Holding Group.

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Brand name Volvo AB was originally registered as a trademark in May 1911 with the intention to be used for a new series of SKF ball bearings.

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In 1930, Volvo AB sold 639 cars, and the export of trucks to Europe started soon after; the cars did not become well known outside Sweden until after World War II.

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AB Volvo AB was introduced at the Stockholm Stock Exchange in 1935 and SKF then decided to sell its shares in the company.

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Pentaverken, which had manufactured engines for Volvo AB, was acquired in 1935, providing a secure supply of engines and entry into the marine engine market.

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In 1963, Volvo AB opened the Volvo AB Halifax Assembly plant, the first assembly plant in the company's history outside of Sweden in Halifax, Nova Scotia, Canada.

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In 1950, Volvo AB acquired the Swedish construction and agricultural equipment manufacturer Bolinder-Munktell.

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In 1977, Volvo AB tried to combine operations with rival Swedish automotive group Saab-Scania, but the latter company rejected it.

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In 1991, the Volvo AB Group participated in a joint venture with Japanese automaker Mitsubishi Motors at the former DAF plant in Born, Netherlands.

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In January 1999, Volvo AB Group sold Volvo AB Car Corporation to Ford Motor Company for $6.

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Volvo AB Group took complete ownership of Nissan Diesel in 2007 to extend its presence in the Asian Pacific market.

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In December 2013, Volvo AB sold its Volvo AB Construction Equipment Rents division to Platinum Equity.

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In November 2016, Volvo AB announced its intention of divesting its Government Sales division, made up mainly of Renault Trucks' Renault Trucks Defense but of Panhard, ACMAT, Mack Defense in the United States, and Volvo AB Defense.

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The project for selling the division was later abandoned and, in May 2018, Volvo AB reorganized Renault Trucks Defense and renamed it Arquus.

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