HOME
The Info List - Volvo





Carl-Henric Svanberg
Carl-Henric Svanberg
(Chairman) Martin Lundstedt
Martin Lundstedt
(President and CEO)

Products Trucks, Buses, Construction equipment, Marine and industrial engines, Financial services

Revenue 334.748 billion kr (2017)[1]

Operating income

30.327 billion kr (2017)[1]

Net income

21.283 billion kr (2017)[1]

Total assets 412.494 billion kr (2017)[1]

Total equity 109.011 billion kr (2017)[1]

Number of employees

94,914 (2016)[2]

Subsidiaries Volvo
Volvo
Trucks, Mack Trucks, Renault
Renault
Trucks, UD Trucks, Dongfeng Commercial Vehicles (45%), VE Commercial Vehicles (Eicher) (45.6%), Volvo
Volvo
Construction Equipment, Terex
Terex
Trucks, SDLG
SDLG
(70%), Volvo
Volvo
Buses, Nova Bus, Prevost Car, Volvo
Volvo
Penta

Website volvogroup.com

The Volvo
Volvo
Group (Swedish: Volvokoncernen; legally Aktiebolaget Volvo, shortened to AB Volvo) (stylized as VOLVO) is a Swedish multinational manufacturing company headquartered in Gothenburg. While its core activity is the production, distribution and sale of trucks, buses and construction equipment, Volvo
Volvo
also supplies marine and industrial drive systems and financial services. In 2016, it was the world’s second largest manufacturer of heavy-duty trucks.[2] Autombobile manufacturer Volvo
Volvo
Cars, also based in Gothenburg, was part of AB Volvo
Volvo
until it 1999, when it was sold to Ford Motor Company. Since 2010 it has been owned by the Geely
Geely
Holding Group, a Chinese multinational automotive manufacturing company. Both AB Volvo and Volvo Cars
Volvo Cars
share the Volvo
Volvo
logo and cooperate in running the Volvo Museum. The company was first listed on the Stockholm Stock Exchange
Stockholm Stock Exchange
in 1935, and was on the NASDAQ
NASDAQ
indices from 1985 to June 2007.[3] Volvo
Volvo
was established in 1915 as a subsidiary of SKF, a ball bearing manufacturer; however both the Volvo
Volvo
Group and Volvo Cars
Volvo Cars
regard the rollout of the company's first car series, the Volvo
Volvo
ÖV 4, on 14 April 1927, as their beginning.[4] The building remains (57°42′50″N 11°55′19″E / 57.71389°N 11.92194°E / 57.71389; 11.92194).

Contents

1 History

1.1 Early years and international expansion 1.2 Partnerships and merging attempts 1.3 Refocusing on heavy vehicles

2 Business 3 Trademark 4 Brands 5 See also 6 References 7 External links

History[edit] Early years and international expansion[edit]

The first Volvo
Volvo
car, a Volvo
Volvo
ÖV 4, left the assembly line on 14 April 1927

The brand name Volvo
Volvo
was originally registered as a trademark in May 1911 with the intention to be used for a new series of SKF
SKF
ball bearings. It means "I roll" in Latin, conjugated from "volvere". The idea was short-lived, and SKF
SKF
decided to simply use its initials as the trademark for all its bearing products.[5] In 1924, Assar Gabrielsson, an SKF
SKF
sales manager, and a KTH Royal Institute of Technology educated engineer Gustav Larson, the two founders,[clarification needed] 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.[6] AB Volvo
Volvo
began activities on 10 August 1926. After one year of preparations involving the production of ten prototypes, the firm was ready to commence the car-manufacturing business within the SKF
SKF
group. The Volvo
Volvo
Group itself considers it started in 1927, when the first car, a Volvo
Volvo
ÖV 4, rolled off the production line at the factory in Hisingen, Gothenburg.[7] Only 280 cars were built that year.[8] The first truck, the "Series 1", debuted in January 1928, as an immediate success and attracted attention outside the country.[5] In 1930, Volvo sold 639 cars,[8] and the export of trucks to Europe started soon after; the cars did not become well-known outside Sweden
Sweden
until after World War II.[8] AB Volvo
Volvo
was introduced at the Stockholm Stock Exchange in 1935 and SKF
SKF
then decided to sell its shares in the company. By 1942, Volvo
Volvo
acquired the Swedish precision engineering company Svenska Flygmotor (later renamed as Volvo
Volvo
Aero).[5] Pentaverken, which had manufactured engines for Volvo, was acquired in 1935, providing a secure supply of engines and entry into the marine engine market.[9] 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
Volvo
opened the Volvo Halifax Assembly plant, the first assembly plant in the company's history outside of Sweden
Sweden
in Halifax, Nova Scotia, Canada. In 1950, Volvo
Volvo
acquired the Swedish construction and agricultural equipment manufacturer Bolinder-Munktell.[10] Bolinder-Munktell
Bolinder-Munktell
was renamed as Volvo
Volvo
BM in 1973.[11] In 1979, Volvo
Volvo
BM's agricultural equipment business was sold to Valmet.[12] Later, through restructuring and acquisitions, the remaining construction equipment business became Volvo
Volvo
Construction Equipment.[10] Partnerships and merging attempts[edit] In 1977, Volvo
Volvo
tried to combine operations with rival Swedish automotive group Saab-Scania, but the latter company rejected it.[5] In the 1970s, French manufacturer Renault
Renault
and Volvo
Volvo
started to collaborate.[13] In 1978, Volvo
Volvo
Car Corporation was spun off as a separate company within the Volvo
Volvo
group[14] and Renault
Renault
acquired a minority stake,[5] before selling it back in the 1980s after a restructuring.[13] In the 1990s, Renault
Renault
and Volvo
Volvo
deepened their collaboration and both companies partnered in purchasing, research and development and quality control while increasing their cross-ownership. Renault
Renault
would assist Volvo
Volvo
with entry-level and medium segment vehicles and in return Volvo
Volvo
would share technology with Renault
Renault
in upper segments. In 1993, a 1994 Volvo- Renault
Renault
merger deal was announced. The deal was barely accepted in France, but it was opposed in Sweden, and the Volvo
Volvo
shareholders and company board voted against it.[5][13] The alliance was officially dissolved in February 1994 and Volvo
Volvo
sold off its minority Renault
Renault
stake in 1997.[5] In 1991, the Volvo
Volvo
Group participated in a joint venture with Japanese automaker Mitsubishi Motors
Mitsubishi Motors
at the former DAF plant in Born, Netherlands. The operation, branded NedCar, began producing the first generation Mitsubishi Carisma
Mitsubishi Carisma
alongside the Volvo
Volvo
S40/V40 in 1996.[15][16] During the 1990s, Volvo
Volvo
also partnered with the American manufacturer General Motors. In 1999, the European Union
European Union
blocked a merger with Scania AB.[5] Refocusing on heavy vehicles[edit] In January 1999, Volvo
Volvo
Group sold Volvo
Volvo
Car Corporation to Ford Motor Company for $6.45 billion. The division was placed within Ford's Premier Automotive Group alongside Jaguar, Land Rover
Land Rover
and Aston Martin. Volvo
Volvo
engineering resources and components would be used in various Ford, Land Rover
Land Rover
and Aston Martin
Aston Martin
products, with the second generation Land Rover
Land Rover
Freelander designed on the same platform as the second generation Volvo
Volvo
S80. The Volvo
Volvo
T5 petrol engine was used in the Ford Focus
Ford Focus
ST and RS performance models, and Volvo's satellite navigation system was used on certain Aston Martin
Aston Martin
Vanquish, DB9 and V8 Vantage models.[17][18][19] In November 1999, Volvo
Volvo
Group purchased a 5% stake in Mitsubishi Motors, as part of a partnership deal for the truck and bus business.[20] In 2001, after DaimlerChrysler
DaimlerChrysler
bought a large Mitsubishi Motors
Mitsubishi Motors
stake,[21] Volvo
Volvo
sold its shares to the former.[22] Renault
Renault
Véhicules Industriels (which included Mack Trucks, but not Renault's stake in Irisbus) was sold to Volvo
Volvo
during January 2001, and Volvo
Volvo
renamed it Renault
Renault
Trucks
Trucks
in 2002. Renault
Renault
became AB Volvo's biggest shareholder with a 19.9% stake (in shares and voting rights) as part of the deal.[23] Renault
Renault
increased its shareholding to 21.7% by 2010.[24] AB Volvo
Volvo
acquired 13% of the shares in the Japanese truck manufacturer Nissan
Nissan
Diesel from Nissan
Nissan
(part of the Renault- Nissan
Nissan
Alliance) during 2006, becoming a major shareholder. Volvo
Volvo
Group took complete ownership of Nissan
Nissan
Diesel in 2007 to extend its presence in the Asian Pacific market.[6][25] Renault
Renault
sold 14.9% of their stake in AB Volvo
Volvo
in October 2010 (comprising 14.9% of the share capital and 3.8% of the voting rights) for €3.02 billion. This share sale left Renault
Renault
with around 17.5% of Volvo's voting rights.[24] Renault
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.[26][27] That same year, Volvo
Volvo
sold Volvo Aero
Volvo Aero
to the British company GKN.[28] In 2017 Volvo Cars
Volvo Cars
owner Geely
Geely
became the largest Volvo
Volvo
shareholder by number of shares after acquiring an 8.2% stake, displacing Industrivärden. Industrivärden kept more voting rights than Geely
Geely
( Geely
Geely
getting a 15.8%).[29] In December 2013, Volvo
Volvo
sold its Volvo Construction Equipment
Volvo Construction Equipment
Rents division to Platinum Equity.[30] In 2014, Volvo's Volvo
Volvo
Construction Equipment acquired the haul truck manufacturing division of Terex Corporation, which included five truck models and a manufacturing facility in Motherwell, Scotland.[31][32][33] In November 2016, Volvo announced its intention of divesting its Government Sales division, made up mainly of Renault
Renault
Trucks' Renault
Renault
Trucks
Trucks
Defense but also of Panhard, ACMAT, Mack Defense in the United States, and Volvo Defense.[34] Business[edit] Volvo
Volvo
Group's operations include:

Volvo
Volvo
Trucks
Trucks
(midsize-duty trucks for regional transportation and heavy-duty trucks for long distance transportation, as well as heavy-duty trucks for the construction work segment) Mack Trucks
Trucks
(light-duty trucks for close distribution and heavy-duty trucks for long distance transportation) Renault
Renault
Trucks
Trucks
(heavy-duty trucks for regional transportations and heavy-duty trucks for the construction work segment) UD Trucks
Trucks
(midsize-duty trucks) Dongfeng Commercial Vehicles (45%) (trucks) VE Commercial Vehicles (Eicher) Ltd., India (VECV), a joint venture between Volvo
Volvo
Group and Eicher Motors
Eicher Motors
Limited in which Volvo
Volvo
holds 45.6% (trucks and buses) Volvo Construction Equipment
Volvo Construction Equipment
(construction equipment) SDLG
SDLG
(70%) (construction equipment) Volvo
Volvo
Buses
Buses
(complete buses and bus chassis for city traffic, line traffic and tourist traffic) Volvo Financial Services (customer financing, inter-group banking, as real estate administration) Volvo
Volvo
Information Technology Volvo Penta
Volvo Penta
(marine engine systems for leisure boats and commercial shipping, diesel engines and drive systems for industrial applications)

Trademark[edit] Volvo
Volvo
Trademark Holding AB is equally owned by AB Volvo
Volvo
and Volvo
Volvo
Car Corporation.[35] The main activity of the company is to own, maintain, protect and preserve the Volvo
Volvo
trademarks (including Volvo, the Volvo
Volvo
device marks (grille slash & iron mark) Volvo Aero
Volvo Aero
and Volvo
Volvo
Penta) on behalf of its owners and to license these rights to its owners. The day-to-day work is focused upon maintaining the global portfolio of trademark registrations and to extend sufficiently the scope of the registered protection for the Volvo
Volvo
trademarks. The main business is also to act against unauthorised registration and use (including counterfeiting) of trademarks identical or similar to the Volvo
Volvo
trademarks on a global basis.[36] Brands[edit]

Volvo
Volvo
Trucks Mack Trucks Renault
Renault
Trucks UD Trucks Dongfeng Trucks
Trucks
(45%) Eicher (VE Commercial Vehicles (VECV) - a joint venture between Volvo Group and Eicher Motors
Eicher Motors
Limited in which Volvo
Volvo
holds 45.6%) Volvo
Volvo
Construction Equipment Terex
Terex
Trucks SDLG
SDLG
(70%) Volvo
Volvo
Buses UD Buses Nova Bus Prevost Volvo
Volvo
Penta

See also[edit]

Port of Gothenburg

References[edit]

^ a b c d e "Report on the fourth quarter and full year 2017" (PDF). Volvo. pp. 15–16.  ^ a b "Annual and Sustainability Report 2016" (PDF). Volvo. p. 1.  ^ " Volvo
Volvo
to quit Nasdaq". Toronto Star. 14 June 2007. Retrieved 15 June 2017.  ^ "Volvo's founders : Volvo
Volvo
Group – Global". Volvo. 14 April 1927. Retrieved 12 June 2009.  ^ a b c d e f g h Pederson, Jay P. (June 2005). "AB Volvo". International Directory of Company Histories. 67. St. James Press. pp. 378–383. ISBN 978-1-5586-2512-9.  ^ a b "History time-line : Volvo
Volvo
Group – Global". Volvo. Retrieved 12 June 2009.  ^ Volvo
Volvo
Group Global. " Volvo
Volvo
80 years". Volvo. Retrieved 6 November 2010.  ^ a b c Georgano, G. N. Cars: Early and Vintage, 1886–1930. (London: Grange-Universal, 1985) ISBN 9781590844915 ^ "1930 – History: Volvo
Volvo
Penta". Volvo
Volvo
Penta. Retrieved 28 November 2013.  ^ a b Eliasson, G (2013). "Automotive dinamics in regional economies". In Pyka, Andreas; Burghof, Hans-Peter. Innovation and Finance. Routledge. p. 130. ISBN 978-1-135-08491-2.  ^ "Heccből támasztották fel a Volvo
Volvo
híres traktormárkáját" (in Hungarian). Agrarszektor.hu. 6 January 2017. Retrieved 14 June 2016.  ^ "Zo zou de Volvo
Volvo
BM er nu uit kunnen zien" (in Dutch). Mechaman.nl. 24 October 2016. Retrieved 15 June 2016.  ^ a b c Donnelly, Tom; Donnelly, Tim; Morris, David (2004). "Renault 1985–2000: From bankruptcy to profit" (PDF). Working papers (Caen Innovation Marché Entreprise) (30). OCLC 799704146. Archived from the original (PDF) on 20 September 2006.  ^ Styhre, Alexander (2007). The Innovative Bureaucracy: Bureaucracy in an Age of Fluidity. Routledge. ISBN 978-0-203-96433-0.  ^ Mitsubishi Motors
Mitsubishi Motors
Corporation Vehicle Manufacturer Strategic Insight, Automotive World (subscription required) ^ "Once upon a time..." History, Nedcar.nl website". Nedcar.nl. 1 May 2006. Archived from the original on 29 July 2007. Retrieved 16 May 2012.  ^ Simister, John (November 2006). " Volvo
Volvo
C30 T5 SE". Evo. Retrieved 29 November 2013. The T5 petrol engine is almost the same as the one borrowed from Volvo
Volvo
by Ford for the Focus ST...  ^ "ASTON'S CLEARER ADVANTAGE". The Scotsman. 29 November 2013. Retrieved 29 November 2013. The optional satellite navigation remains a Volvo-sourced system that is absurdly fiddly.  ^ Simister, John (December 2006). " Land Rover
Land Rover
Freelander". Evo. Retrieved 29 November 2013. But it's good news for the new 'Freelander 2', based on the S-Max/S80/next-Mondeo platform, powered in the top model by a 229bhp Volvo
Volvo
straight-six  ^ " Mitsubishi Motors
Mitsubishi Motors
announces alliance with Volvo". The Augusta Chronicle. 10 October 1999. Retrieved 27 June 2017.  ^ Miller, Scott (15 February 2001). " Volvo
Volvo
Might Sell Its Mitsubishi Stake Because of Daimler's Control of Firm". The Wall Street Journal. Retrieved 27 June 2017.  ^ " Volvo
Volvo
säljer sitt innehav i Mitsubishi". Aftonbladet (in Swedish). 11 April 2001. Retrieved 27 June 2017.  ^ "AB VOLVO TRANSFER REMAINING SHARES TO RENAULT S.A". Volvo. 9 February 2001. Retrieved 29 November 2013.  ^ a b " Renault
Renault
raises €3bn with part-sale of Volvo
Volvo
stake". The Daily Telegraph. 7 October 2010. Retrieved 29 November 2013.  ^ " Volvo
Volvo
in $1.1bn Nissan
Nissan
purchase". BBC
BBC
News. BBC. 20 February 2007. Retrieved 29 November 2013.  ^ Pearson, David (12 December 2012). " Renault
Renault
to Sell Rest of Its Volvo
Volvo
Stake". The Wall Street Journal. Retrieved 29 November 2013.  ^ "Industrivärden strengthens its ownership position in Volvo". Industrivärden. 13 December 2012. Archived from the original on 3 December 2013. Retrieved 29 November 2013.  ^ "GKN's shares soar as it buys Volvo's aircraft engine business". The Guardian. 5 July 2012. Retrieved 27 June 2017.  ^ "China's Geely
Geely
turns to Volvo
Volvo
trucks in latest Swedish venture". Reuters. 27 December 2017. Retrieved 25 February 2018.  ^ Fuller, Matthew (12 February 2014). "Despite Raising Eyebrows, BlueLine Prices $252M PIK Toggle High Yield Bond Deal". Forbes. Retrieved 27 June 2017.  ^ Latimer, Cole (10 December 2013). " Terex
Terex
sells trucks arm to Volvo". Australian Mining. Prime Creative Media. Retrieved 14 June 2017.  ^ Miller, Graham (31 December 2013). " Volvo
Volvo
buys Terex
Terex
plant in Newhouse for $160m". Daily Record. Scottish Daily Record and Sunday Mail. Retrieved 14 June 2017.  ^ "Further job cuts at Terex
Terex
truck firm in Motherwell". bbc.com. BBC. 16 June 2016. Retrieved 14 June 2017.  ^ Tran, Pierre (4 November 2016). " Volvo
Volvo
Launches RTD Sale, No Timetable". Defense News. Sightline Media Group. Retrieved 14 June 2017.  ^ " Volvo
Volvo
Annual Report 1999". .volvo.com. Archived from the original on 16 March 2012. Retrieved 6 November 2010.  ^ "The Volvo
Volvo
Brand Name, Volvo
Volvo
Annual Report 1999". .volvo.com. Archived from the original on 17 July 2011. Retrieved 6 November 2010. 

External links[edit]

Official Volvo
Volvo
Group website Official Volvo
Volvo
website – for Volvo-branded companies.

v t e

Volvo
Volvo
Group

Subsidiaries, joint ventures and divisions

Mack Trucks

Mack Defense

Renault
Renault
Trucks

ACMAT Panhard Renault
Renault
Trucks
Trucks
Defense

UD Trucks VE Commercial Vehicles1 Volvo
Volvo
Buses

Nova Bus Prevost

Volvo
Volvo
Trucks

Volvo
Volvo
Defense

Volvo
Volvo
Construction Equipment

SDLG2 Terex
Terex
Trucks

Volvo
Volvo
Financial Services Volvo
Volvo
Penta

Former subsidiaries

Volvo
Volvo
Aero Volvo
Volvo
Cars Volvo
Volvo
Rents

Related

Volvo
Volvo
Museum Volvo
Volvo
Ocean Race

1Joint venture with Eicher Motors. 2Joint venture with SDLG.

v t e

Automotive industry
Automotive industry
in Sweden

Automotive industry Economy of Sweden Transport in Sweden

Swedish vehicle manufacturers

Dala7 Koenigsegg NEVS

Saab

Scania Volvo

Volvo
Volvo
Buses Volvo
Volvo
Construction Equipment Volvo
Volvo
Trucks

Volvo
Volvo
Cars

Components

Autoliv Haldex Haldex
Haldex
Traction SKF Trelleborg AB

Motorsport and tuners

Caresto Polestar Polestar
Polestar
Cyan Racing

Other

Power Big Meet Swedish Transport Agency

v t e

OMX Stockholm 30
OMX Stockholm 30
companies of Sweden

ABB Alfa Laval Assa Abloy AstraZeneca Atlas Copco Boliden Electrolux Ericsson Essity Getinge Hennes & Mauritz Investor AB Kinnevik Lundin Petroleum Modern Times Group Nokia Nordea Sandvik SCA SEB Securitas Skanska SKF SSAB Svenska Handelsbanken Swedbank Swedish Match Tele2 Telia

.