2010 Volvo XC60 Review, Ratings, Specs, Prices, and Photos The Car Connection
The Volvo Group (Swedish: Volvokoncernen; legally Aktiebolaget Volvo, shortened to AB Volvo) (stylized as VOLVO) is often a Swedish multinational manufacturing company headquartered in Gothenburg. While its core activity would be the production, distribution and sale of trucks, buses and construction equipment, Volvo also supplies marine and industrial drive systems and financial services. In 2016, it turned out the world's second largest manufacturer of heavy-duty trucks.Automobile manufacturer Volvo Cars, also situated in Gothenburg, was section of AB Volvo until 1999, when it had been sold to your Ford Motor Company. Since 2010 it's been owned by the Geely Holding Group, a Chinese multinational automotive manufacturing company. Both AB Volvo and Volvo Cars share the Volvo logo and cooperate in running the Volvo Museum in Sweden.The company was initially listed for the Stockholm Stock Exchange in 1935, and was within the NASDAQ indices from 1985 to 2007.Volvo was established in 1915 to be a subsidiary of SKF, a ball bearing manufacturer; however their Volvo Group and Volvo Cars regard the rollout from the company's first car series, the Volvo ÖV 4, on 14 April 1927, for their beginning. The building remains.The name Volvo was originally registered being a trademark in May 1911 together with the intention for use for a new combination of SKF ball bearings. It means "I roll" in Latin, conjugated from "volvere". The idea was short-lived, and SKF chose to simply use its initials as being the trademark for all those its bearing products.In 1924, Assar Gabrielsson, an SKF sales team manager, as well as a KTH Royal Institute of Technology educated engineer Gustav Larson, the 2 founders,[clarification needed] chose to start construction of your Swedish car. They designed to build cars that may withstand the rigors on the country's rough roads and cold temperatures.AB Volvo began activities on 10 August 1926. After twelve months of preparations concerning the production of ten prototypes, the firm was wanting to commence the car-manufacturing business in the SKF group. The Volvo Group itself considers it entered 1927, if the first car, a Volvo ÖV 4, rolled over production line in the factory in Hisingen, Gothenburg. Only 280 cars were built that year. The first truck, the "Series 1", debuted in January 1928, being an immediate success and attracted attention outside of the country. In 1930, Volvo sold 639 cars, as well as the export of trucks to Europe started shortly after; the cars would not become well-known outside Sweden until after World War II. AB Volvo was introduced for the Stockholm Stock Exchange in 1935 and SKF then chosen to sell its shares inside company. By 1942, Volvo acquired the Swedish precision engineering company Svenska Flygmotor (later renamed as Volvo Aero).Pentaverken, that have manufactured engines for Volvo, was acquired in 1935, providing a good supply of engines and entry to the marine engine market.The first bus, named B1, was published in 1934, and aircraft engines were added to your growing range of products with the beginning on the 1940s. In 1963, Volvo opened the Volvo Halifax Assembly plant, the 1st assembly plant inside the company's history away from Sweden in Halifax, Nova Scotia, Canada.In 1950, Volvo acquired the Swedish construction and agricultural equipment manufacturer Bolinder-Munktell. Bolinder-Munktell was renamed as Volvo BM in 1973. In 1979, Volvo BM's agricultural equipment business was sold to Valmet. Later, through restructuring and acquisitions, the residual construction equipment business became Volvo Construction Equipment.
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