16 Facts About Volvo


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

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

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

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Brand name Volvo 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 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 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, was acquired in 1935, providing a secure supply of engines and entry into the marine engine market.

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In 1963, Volvo opened the Volvo 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 acquired the Swedish construction and agricultural equipment manufacturer Bolinder-Munktell.

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In 1977, Volvo 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 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 Group sold Volvo Car Corporation to Ford Motor Company for $6.

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Volvo 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 sold its Volvo Construction Equipment Rents division to Platinum Equity.

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In November 2016, Volvo 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 Defense.

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

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