The building remains (). ==History== ===Early years and international expansion=== The 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.
Both AB Volvo and Volvo Cars share the Volvo logo and cooperate in running the Volvo Museum in Sweden. The company was first listed on the Stockholm Stock Exchange in 1935, and was on the NASDAQ indices from 1985 to 2007. Volvo was established in 1915 as a subsidiary of SKF, a ball bearing manufacturer; however both the Volvo Group and Volvo Cars regard the rollout of the company's first car series, the Volvo ÖV 4, on 14 April 1927, as their beginning.
The idea was short-lived, and SKF decided to simply use its initials as the trademark for all its bearing products. In 1924, Assar Gabrielsson, an SKF sales manager, and a KTH Royal Institute of Technology educated engineer Gustav Larson, decided to start construction of a Swedish car.
They intended to build cars that could withstand the rigors of the country's rough roads and cold temperatures. AB Volvo began activities on 10 August 1926.
Both AB Volvo and Volvo Cars share the Volvo logo and cooperate in running the Volvo Museum in Sweden. The company was first listed on the Stockholm Stock Exchange in 1935, and was on the NASDAQ indices from 1985 to 2007. Volvo was established in 1915 as a subsidiary of SKF, a ball bearing manufacturer; however both the Volvo Group and Volvo Cars regard the rollout of the company's first car series, the Volvo ÖV 4, on 14 April 1927, as their beginning.
The Volvo Group itself considers it started in 1927, when the first car, a Volvo ÖV 4, rolled off the production line at the factory in Hisingen, Gothenburg.
The first truck, the "Series 1", debuted in January 1928, as an immediate success and attracted attention outside the country.
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.
By 1942, Volvo acquired the Swedish precision engineering company Svenska Flygmotor (later renamed as Volvo Aero). Pentaverken, which had manufactured engines for Volvo, was acquired in 1935, providing a secure supply of engines and entry into the marine engine market. The first bus, named B1, was launched in 1934, and aircraft engines were added to the growing range of products at the beginning of the 1940s.
Both AB Volvo and Volvo Cars share the Volvo logo and cooperate in running the Volvo Museum in Sweden. The company was first listed on the Stockholm Stock Exchange in 1935, and was on the NASDAQ indices from 1985 to 2007. Volvo was established in 1915 as a subsidiary of SKF, a ball bearing manufacturer; however both the Volvo Group and Volvo Cars regard the rollout of the company's first car series, the Volvo ÖV 4, on 14 April 1927, as their beginning.
AB Volvo was introduced at the Stockholm Stock Exchange in 1935 and SKF then decided to sell its shares in the company.
By 1942, Volvo acquired the Swedish precision engineering company Svenska Flygmotor (later renamed as Volvo Aero). Pentaverken, which had manufactured engines for Volvo, was acquired in 1935, providing a secure supply of engines and entry into the marine engine market. The first bus, named B1, was launched in 1934, and aircraft engines were added to the growing range of products at the beginning of the 1940s.
By 1942, Volvo acquired the Swedish precision engineering company Svenska Flygmotor (later renamed as Volvo Aero). Pentaverken, which had manufactured engines for Volvo, was acquired in 1935, providing a secure supply of engines and entry into the marine engine market. The first bus, named B1, was launched in 1934, and aircraft engines were added to the growing range of products at the beginning of the 1940s.
By 1942, Volvo acquired the Swedish precision engineering company Svenska Flygmotor (later renamed as Volvo Aero). Pentaverken, which had manufactured engines for Volvo, was acquired in 1935, providing a secure supply of engines and entry into the marine engine market. The first bus, named B1, was launched in 1934, and aircraft engines were added to the growing range of products at the beginning of the 1940s.
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. In 1950, Volvo acquired the Swedish construction and agricultural equipment manufacturer Bolinder-Munktell.
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. In 1950, Volvo acquired the Swedish construction and agricultural equipment manufacturer Bolinder-Munktell.
In the 1970s, French manufacturer Renault and Volvo started to collaborate.
Bolinder-Munktell was renamed as Volvo BM in 1973.
Later, through restructuring and acquisitions, the remaining construction equipment business became Volvo Construction Equipment. ===Partnerships and merging attempts=== In 1977, Volvo tried to combine operations with rival Swedish automotive group Saab-Scania, but the latter company rejected it.
In 1978, Volvo Car Corporation was spun off as a separate company within the Volvo group and Renault acquired a minority stake, before selling it back in the 1980s after a restructuring.
In 1979, Volvo BM's agricultural equipment business was sold to Valmet.
In 1978, Volvo Car Corporation was spun off as a separate company within the Volvo group and Renault acquired a minority stake, before selling it back in the 1980s after a restructuring.
Both AB Volvo and Volvo Cars share the Volvo logo and cooperate in running the Volvo Museum in Sweden. The company was first listed on the Stockholm Stock Exchange in 1935, and was on the NASDAQ indices from 1985 to 2007. Volvo was established in 1915 as a subsidiary of SKF, a ball bearing manufacturer; however both the Volvo Group and Volvo Cars regard the rollout of the company's first car series, the Volvo ÖV 4, on 14 April 1927, as their beginning.
In the 1990s, Renault and Volvo deepened their collaboration and both companies partnered in purchasing, research and development and quality control while increasing their cross-ownership.
During the 1990s, Volvo also partnered with the American manufacturer General Motors.
The alliance was officially dissolved in February 1994 and Volvo sold off its minority Renault stake in 1997. In 1991, the Volvo Group participated in a joint venture with Japanese automaker Mitsubishi Motors at the former DAF plant in Born, Netherlands.
In 1993, a 1994 Volvo-Renault merger deal was announced.
In 1993, a 1994 Volvo-Renault merger deal was announced.
The alliance was officially dissolved in February 1994 and Volvo sold off its minority Renault stake in 1997. In 1991, the Volvo Group participated in a joint venture with Japanese automaker Mitsubishi Motors at the former DAF plant in Born, Netherlands.
The operation, branded NedCar, began producing the first generation Mitsubishi Carisma alongside the Volvo S40/V40 in 1996.
The alliance was officially dissolved in February 1994 and Volvo sold off its minority Renault stake in 1997. In 1991, the Volvo Group participated in a joint venture with Japanese automaker Mitsubishi Motors at the former DAF plant in Born, Netherlands.
In 2016, it was the world's second largest manufacturer of heavy-duty trucks. Automobile manufacturer Volvo Cars, also based in Gothenburg, was part of AB Volvo until 1999, when it was sold to the Ford Motor Company.
In 1999, the European Union blocked a merger with Scania AB. ===Refocusing on heavy vehicles=== In January 1999, Volvo Group sold Volvo Car Corporation to Ford Motor Company for $6.45 billion.
In November 1999, Volvo Group purchased a 5% stake in Mitsubishi Motors, as part of a partnership deal for the truck and bus business.
In 2001, after DaimlerChrysler bought a large Mitsubishi Motors stake, Volvo sold its shares to the former. Renault Véhicules Industriels (which included Mack Trucks, but not Renault's stake in Irisbus) was sold to Volvo during January 2001, and Volvo renamed it Renault Trucks in 2002.
In 2001, after DaimlerChrysler bought a large Mitsubishi Motors stake, Volvo sold its shares to the former. Renault Véhicules Industriels (which included Mack Trucks, but not Renault's stake in Irisbus) was sold to Volvo during January 2001, and Volvo renamed it Renault Trucks in 2002.
Renault increased its shareholding to 21.7% by 2010. AB Volvo acquired 13% of the shares in the Japanese truck manufacturer Nissan Diesel (later renamed UD Trucks) from Nissan (part of the Renault-Nissan Alliance) during 2006, becoming a major shareholder.
Both AB Volvo and Volvo Cars share the Volvo logo and cooperate in running the Volvo Museum in Sweden. The company was first listed on the Stockholm Stock Exchange in 1935, and was on the NASDAQ indices from 1985 to 2007. Volvo was established in 1915 as a subsidiary of SKF, a ball bearing manufacturer; however both the Volvo Group and Volvo Cars regard the rollout of the company's first car series, the Volvo ÖV 4, on 14 April 1927, as their beginning.
Volvo Group took complete ownership of Nissan Diesel in 2007 to extend its presence in the Asian Pacific market. Renault sold 14.9% of their stake in AB Volvo in October 2010 (comprising 14.9% of the share capital and 3.8% of the voting rights) for €3.02 billion.
Since 2010 it has been owned by the Chinese multinational automotive company Geely Holding Group.
Renault increased its shareholding to 21.7% by 2010. AB Volvo acquired 13% of the shares in the Japanese truck manufacturer Nissan Diesel (later renamed UD Trucks) from Nissan (part of the Renault-Nissan Alliance) during 2006, becoming a major shareholder.
Volvo Group took complete ownership of Nissan Diesel in 2007 to extend its presence in the Asian Pacific market. Renault sold 14.9% of their stake in AB Volvo in October 2010 (comprising 14.9% of the share capital and 3.8% of the voting rights) for €3.02 billion.
Renault sold their remaining shares in December 2012 (comprising 6.5% of the share capital and 17.2% of the voting rights at the time of transaction) for €1.6 billion, leaving Swedish industrial investment group Aktiebolaget Industrivärden as the largest shareholder, with 6.2% of the share capital and 18.7% of the voting rights.
Industrivärden kept more voting rights than Geely (Geely getting a 15.8%). In December 2013, Volvo sold its Volvo Construction Equipment Rents division to Platinum Equity.
In 2014, Volvo's Volvo Construction Equipment acquired the [truck] manufacturing division of Terex Corporation, which included five truck models and a manufacturing facility in Motherwell, Scotland.
In 2016, it was the world's second largest manufacturer of heavy-duty trucks. Automobile manufacturer Volvo Cars, also based in Gothenburg, was part of AB Volvo until 1999, when it was sold to the Ford Motor Company.
In November 2016, Volvo announced its intention of divesting its Government Sales division, made up mainly of Renault Trucks' Renault Trucks Defense but also of Panhard, ACMAT, Mack Defense in the United States, and Volvo Defense.
In 2017 Volvo Cars owner Geely became the largest Volvo shareholder by number of shares after acquiring an 8.2% stake, displacing Industrivärden.
The project for selling the division was later abandoned and, in May 2018, Volvo reorganized Renault Trucks Defense and renamed it Arquus. In December 2018, Volvo announced it intended to sell a 75.1% controlling stake of its car telematics subsidiary WirelessCar to Volkswagen with the aim of focusing on telematics for commercial vehicles.
The sale was completed in March 2019. In December 2019, Volvo and Isuzu announced their intention of forming a strategic alliance on commercial vehicles.
The "final agreements" for the alliance were signed in October 2020, with UD Trucks sale pending on regulatory clearances.
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