2001 Volvo V70 Pictures CarGurus
The Volvo Group (Swedish: Volvokoncernen; legally Aktiebolaget Volvo, shortened to AB Volvo) (stylized as VOLVO) is usually a Swedish multinational manufacturing company headquartered in Gothenburg. While its core activity could 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 located in Gothenburg, was a part of AB Volvo until 1999, when it had been sold to your Ford Motor Company. Since 2010 it is often 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 within the Stockholm Stock Exchange in 1935, and was for the NASDAQ indices from 1985 to 2007.Volvo was established in 1915 like 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 to be a trademark in May 1911 with all the intention to use for a new group of SKF ball bearings. It means "I roll" in Latin, conjugated from "volvere". The idea was short-lived, and SKF made a decision to simply use its initials since the trademark for everyone its bearing products.In 1924, Assar Gabrielsson, an SKF sales team manager, along with a KTH Royal Institute of Technology educated engineer Gustav Larson, the 2 main founders,[clarification needed] made a decision to start construction of the Swedish car. They designed to build cars that may withstand the rigors in the country's rough roads and cold temperatures.AB Volvo began activities on 10 August 1926. After one full year of preparations between production of ten prototypes, the firm was prepared to commence the car-manufacturing business inside SKF group. The Volvo Group itself considers it entered 1927, if your first car, a Volvo ÖV 4, rolled away from the 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 away from country. In 1930, Volvo sold 639 cars, plus the export of trucks to Europe started right after; the cars wouldn't become popular outside Sweden until after World War II. AB Volvo was introduced in the Stockholm Stock Exchange in 1935 and SKF then chose 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 safe and secure supply of engines and entry in to the marine engine market.The first bus, named B1, was published in 1934, and aircraft engines were added towards the growing range of products in the beginning from the 1940s. In 1963, Volvo opened the Volvo Halifax Assembly plant, the primary assembly plant inside the company's history beyond 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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