Volvo Personvagnar AB is a Swedish company producing Volvo cars, commonly called Volvo Car Corporation or simply Volvo Cars. Its cars are considered one of the world’s safest. Volvo made safety a key focus of its business! For most of the passive safety equipment in the automotive world, including ABS introduce
Volvo S90 2020. Bodywork, Exterior. Sedan, 2 generation, restyling
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Volvo. Safety comes first

Volvo S90 2020. Bodywork, Exterior. Sedan, 2 generation, restyling

Volvo Personvagnar AB is a Swedish company producing Volvo cars, commonly called Volvo Car Corporation or simply Volvo Cars. Its cars are considered one of the world’s safest. Volvo made safety a key focus of its business! For most of the passive safety equipment in the automotive world, including ABS introduced in 1984, drivers should thank Volvo. It is difficult to imagine a modern car without it. Every year, 500,000 new Volvo cars are sold nowadays. *As of 2018-2019

Once a single concern, the Volvo Group, which produces cars, trucks, buses, and engines, in 1999 sold its passenger car division, Volvo Cars, to Ford concern for $6.45B. Volvo, nonetheless, was in a good company there! Volvo was a part of Premier Automotive Group – a unit of Ford Motor, which united such prestigious European car brands as Jaguar, Daimler, Land Rover, Aston Martin, Lincoln. They even managed to significantly expand the range of cars and release a new crossover – Volvo XC60…

Ford sold Volvo Personvagnar for $1.8B, the trademark and the logo of Volvo to the Chinese company Geely Automobile Holdings Limited

But there was a global economic crisis in 2008. Volvo Cars downsized its staff dramatically, Ford was preparing for possible bankruptcy and decided to sell Volvo. It was learned through word-of-mouth that BMV AG, Volkswagen, and some investors from Russia wanted to buy Volvo Cars. But the Chinese got ahead of everyone. Again, according to rumors, Geely Group Holdings Co. initially offered $1.5B for the purchase of Volvo and much more money as an investment in Ford… 11 years later, Ford Motor sold Volvo Personvagnar for $1.8B, the trademark and the logo of Volvo to the Chinese company Geely Automobile Holdings Limited, one of the largest Chinese car companies, which is on the list of 500 largest companies in the world. Volvo Cars made the way from the favorite Swedish brand to a division of the Chinese monster, Geely.

Despite the fact that formally the Volvo is no longer Swedish, the Swedish spirit is still alive! Nowadays, both Swedish and Chinese own the Volvo brand. And the intellectual rights to the development of the Swedish company remained with Volvo!