17 Facts About Volvo Group

1.

Volvo Group is a Swedish multinational manufacturing corporation headquartered in Gothenburg.

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2.

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

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3.

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

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4.

Brand name Volvo Group 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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5.

The Volvo Group itself considers it started in 1927, when the first car, a Volvo OV 4, rolled off the production line at the factory in Hisingen, Gothenburg.

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6.

In 1930, Volvo Group 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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7.

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

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8.

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

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9.

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

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10.

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

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11.

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

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12.

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

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13.

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

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14.

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

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15.

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

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16.

In November 2016, Volvo Group 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 Group Defense.

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17.

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

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