Volvo Cars (Volvo personvagnar, styled VOLVO in the company's logo) is a Swedish multinational manufacturer of luxury vehicles headquartered in Torslanda, Gothenburg. The company manufactures SUVs, station wagons, and sedans. The company's main marketing arguments are safety and its Swedish heritage and design.
Volvo Cars has been separate from its former parent conglomerate and producer of heavy trucks, buses, and construction equipment (among others) AB Volvo since 1999 when AB Volvo sold its automobile division Volvo Cars to Ford Motor Company. On 28 March 2010, Ford sold loss-making Volvo Cars to Geely for $1.8 billion; the deal closed in August 2010. Volvo Cars was publicly listed on the Nasdaq Stockholm stock exchange in 2021, though Geely still retains majority ownership. Volvo Cars and AB Volvo both share the Volvo logo, and cooperate in running the Volvo Museum.
In March 2021, Volvo Cars announced that it would be a fully electric brand by 2030. In June 2021, Volvo Cars and Swedish battery developer and manufacturer Northvolt announced the intention to establish a 50/50 joint venture consisting of a battery gigafactory and R&D (research and development) center. In December 2021, it was revealed the battery R&D center would be located in Gothenburg. In February 2022, Gothenburg was also chosen as the location for the battery gigafactory.
During 2021 and 2022, Volvo Cars transferred its hybrid engine research and production capabilities in Skövde and Zhangjiakou to Aurobay, in a joint venture with Geely.
Volvo Cars owns 49.5% of Polestar and 30% of Lynk & Co.
Volvo was founded upon the concept of safety in 1927, in Gothenburg, Sweden:
Cars are driven by people. The guiding principle behind everything we make at Volvo, therefore, is and must remain, safety.
The company was created as a subsidiary to SKF. Assar Gabrielsson was appointed managing director and Gustav Larson technical manager.
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A flexible-fuel vehicle (FFV) or dual-fuel vehicle (colloquially called a flex-fuel vehicle) is an alternative fuel vehicle with an internal combustion engine designed to run on more than one fuel, usually gasoline blended with either ethanol or methanol fuel, and both fuels are stored in the same common tank. Modern flex-fuel engines are capable of burning any proportion of the resulting blend in the combustion chamber as fuel injection and spark timing are adjusted automatically according to the actual blend detected by a fuel composition sensor.
The Volvo Group (Volvokoncernen; legally Aktiebolaget Volvo, shortened to AB Volvo, stylized as VOLVO) is a Swedish multinational manufacturing corporation headquartered in Gothenburg. While its core activity is 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 was the world's second-largest manufacturer of heavy-duty trucks with its subsidiary Volvo Trucks.
A hybrid electric vehicle (HEV) is a type of hybrid vehicle that combines a conventional internal combustion engine (ICE) system with an electric propulsion system (hybrid vehicle drivetrain). The presence of the electric powertrain is intended to achieve either better fuel economy than a conventional vehicle or better performance. There is a variety of HEV types and the degree to which each function as an electric vehicle (EV) also varies.
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