Volvo Cars, the Swedish automobile maker owned by China's Zhejiang Geely Holding, said Monday it would proceed with an initial public offering in Stockholm, in a deal that people familiar with the matter say could value it at upward of $25 billion.4 Oct 2021
Is Volvo still owned by Ford?
The company launched their automotive business in 1997 and eventually took over ownership of the Swedish-made Volvo brand in 2010. After being a part of the Ford Motor Company for a brief period of time, Volvo vehicles are now manufactured by the Geely Holding Group.
Are Volvos still made in Sweden?
Volvo Cars is a multinational company with plants located in China, Sweden, and the U.S.A. For most global markets, all Volvo cars are produced and assembled in Sweden. The plant in South Carolina currently produces the Volvo S60. The plant in Chengdu, China, is responsible for Asian market vehicles.
When did China buy Volvo?
2010
What Volvos are made in China?
Those Volvo XC90 SUVs are assembled mainly in Chengdu, China. Volvo Cars has plans for assembling all 2022 Volvo XC90 models at their new facility in South Carolina.
Does Ford own Volvo?
About The Auto Group Some drivers in the Laurel or Shepherd area may remember that for a brief period, Volvo was part of the Ford Motor Company, but currently, all Volvo vehicles are manufactured by the Geely Holding Group.
Do Volvo still use Ford engines?
Volvo used a mixture of Ford engines, and its own five-cylinder turbo units, up until 2014, when all the engines began to be replaced by Volvo's new (and still-current) family of Swedish-designed and built four-cylinder turbo engines. The best engine is Volvo's own 2.0-litre D4 diesel, with 190hp.8 Jan 2019
Why did Volvo sell to Ford?
Ford paid $6.5 billion for Volvo in 1999, part of a luxury brand acquisition binge that included Jaguar and Aston Martin. By 2008, Ford was struggling to survive the Great Recession, and new CEO Alan Mulally, late of Boeing Co., decided to jettison most of the fancy brands, including Volvo.24 May 2018
What other companies does Volvo own?
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Footnotes / references Consolidated (group) financial figures