Refreshed 2014 Volvo S60, XC60 Get $520 Price Bump
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 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 absolutely was the world's second largest manufacturer of heavy-duty trucks.Automobile manufacturer Volvo Cars, also located in Gothenburg, was portion of AB Volvo until 1999, when it absolutely was sold towards the Ford Motor Company. Since 2010 many experts have 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 listed about the Stockholm Stock Exchange in 1935, and was for 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 on the company's first car series, the Volvo ÖV 4, on 14 April 1927, his or her beginning. The building remains.The manufacturer Volvo was originally registered like a trademark in May 1911 with all the intention to be utilized for a new compilation 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 because trademark for everyone its bearing products.In 1924, Assar Gabrielsson, an SKF sales leader, and also a KTH Royal Institute of Technology educated engineer Gustav Larson, both founders,[clarification needed] chose to start construction of the Swedish car. They created to build cars that may withstand the rigors from the country's rough roads and cold temperatures.AB Volvo began activities on 10 August 1926. After 1 year of preparations relating to the production of ten prototypes, the firm was wanting to commence the car-manufacturing business from the SKF group. The Volvo Group itself considers it began in 1927, if the first car, a Volvo ÖV 4, rolled 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 beyond the country. In 1930, Volvo sold 639 cars, and also the export of trucks to Europe started just after; the cars would not become popular outside Sweden until after World War II. AB Volvo was introduced for the Stockholm Stock Exchange in 1935 and SKF then chose to sell its shares inside the company. By 1942, Volvo acquired the Swedish precision engineering company Svenska Flygmotor (later renamed as Volvo Aero).Pentaverken, which in fact had manufactured engines for Volvo, was acquired in 1935, providing a safe and secure supply of engines and entry to the marine engine market.The first bus, named B1, premiered in 1934, and aircraft engines were added to your growing range of products on the beginning on the 1940s. In 1963, Volvo opened the Volvo Halifax Assembly plant, the 1st assembly plant within the company's history outside 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 remainder of the construction equipment business became Volvo Construction Equipment.
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