Volvo Car Corporation is a Swedish luxury car manufacturer headquartered in Gothenburg, Sweden. The company was founded in 1927 by Assar Gabrielsson and Gustaf Larson. The company’s first car, the ÖV4, was launched in 1927. Volvo quickly became known for its safety and reliability.
Journey
In the 1950s, Volvo introduced a number of safety innovations, including the three-point seat belt and the crumple zone. Volvo cars were also successful in motorsport, winning the 24 Hours of Le Mans in 1956 and 1967.
In the 1970s, Volvo faced a number of challenges, including the oil crisis and the rise of Japanese automakers. However, the company managed to weather these challenges and continued to produce safe and reliable cars. In the 1980s, Volvo launched a number of successful models, including the 240 and the 740.
In the 1990s, Volvo was acquired by Ford Motor Company. Ford invested heavily in Volvo, helping the company to develop new models and technologies. In the 2000s, Volvo launched a number of successful models, including the S40 and the XC90.
In 2010, Ford sold Volvo to Geely Holding Group. Geely has invested heavily in Volvo, helping the company to develop new models and technologies. In the 2010s, Volvo launched a number of successful models, including the XC60 and the S90.
Present
Today, Volvo is a leading luxury car manufacturer. The company offers a wide range of cars, including sedans, SUVs, and crossovers. Volvo cars are known for their safety, reliability, and design.
Daughter/Parent companies
Volvo is a subsidiary of Geely Holding Group. Geely Holding Group is a Chinese multinational automotive manufacturing company headquartered in Hangzhou, Zhejiang, China. Geely Holding Group is the largest automobile manufacturer in China and the 14th-largest in the world.
Entry into the EV market
Volvo entered the EV market in 2019 with the launch of the XC40 Recharge. The XC40 Recharge is a luxury electric SUV that has been praised for its performance, style, and range. Volvo has also announced plans to launch a number of other electric vehicles in the coming years, including a sedan and a crossover.
Volvo is committed to becoming a leader in the EV market. The company has set a goal of selling 50% electric vehicles by 2025 and 100% electric vehicles by 2030. Volvo is investing heavily in the development of new EV technologies, such as solid-state batteries and long-range charging infrastructure.
Volvo Company Profile
| Founded in: | 1927 |
| Owner Company: | Geely |
| Main Headquarter: | Sweden |
| Area Served: | Worldwide |
| Manufacturer of: | Four Wheelers |
| Communication: | Official Website |
