Volvo Cars
Overview
Automaker
The automotive industry designs, develops, manufactures, markets, and sells motor vehicles, and is one of the world's most important economic sectors by revenue....
founded in 1927, in Gothenburg
Gothenburg
Gothenburg is the second-largest city in Sweden and the fifth-largest in the Nordic countries. Situated on the west coast of Sweden, the city proper has a population of 519,399, with 549,839 in the urban area and total of 937,015 inhabitants in the metropolitan area...
, Sweden
Sweden
Sweden , officially the Kingdom of Sweden , is a Nordic country on the Scandinavian Peninsula in Northern Europe. Sweden borders with Norway and Finland and is connected to Denmark by a bridge-tunnel across the Öresund....
. It is owned by Zhejiang Geely Holding Group. Volvo was originally formed as a subsidiary company to the ball bearing
Ball bearing
A ball bearing is a type of rolling-element bearing that uses balls to maintain the separation between the bearing races.The purpose of a ball bearing is to reduce rotational friction and support radial and axial loads. It achieves this by using at least two races to contain the balls and transmit...
maker SKF
SKF
SKF, Svenska Kullagerfabriken AB , later AB SKF, is a Swedish bearing company founded in 1907, supplying bearings, seals, lubrication and lubrication systems, maintenance products, mechatronics products, power transmission products and related services globally.-History:The company was founded on...
. When Volvo AB was introduced on the Swedish stock exchange in 1935, SKF sold most of the shares in the company. Volvo Cars was owned by AB Volvo
Volvo
AB Volvo is a Swedish builder of commercial vehicles, including trucks, buses and construction equipment. Volvo also supplies marine and industrial drive systems, aerospace components and financial services...
until 1999, when it was acquired by the Ford Motor Company
Ford Motor Company
Ford Motor Company is an American multinational automaker based in Dearborn, Michigan, a suburb of Detroit. The automaker was founded by Henry Ford and incorporated on June 16, 1903. In addition to the Ford and Lincoln brands, Ford also owns a small stake in Mazda in Japan and Aston Martin in the UK...
as part of its Premier Automotive Group
Premier Automotive Group
The Premier Automotive Group , was a group within the Ford Motor Company which was formed in 1999 to oversee the business operations of Ford's high-end automotive marques....
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