Volvo S70 Interior 1998 image 16
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 may 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, that it was the world's second largest manufacturer of heavy-duty trucks.Automobile manufacturer Volvo Cars, also operating out of Gothenburg, was a part of AB Volvo until 1999, when it had been sold for the 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 listed around the Stockholm Stock Exchange in 1935, and was for the NASDAQ indices from 1985 to 2007.Volvo was established in 1915 as being a subsidiary of SKF, a ball bearing manufacturer; however both Volvo Group and Volvo Cars regard the rollout with the company's first car series, the Volvo ÖV 4, on 14 April 1927, as his or her beginning. The building remains.The name brand Volvo was originally registered to be 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 thought we would simply use its initials because trademark for everyone its bearing products.In 1924, Assar Gabrielsson, an SKF sales leader, as well as a KTH Royal Institute of Technology educated engineer Gustav Larson, the 2 founders,[clarification needed] chosen to start construction of the Swedish car. They created to build cars that can withstand the rigors from the country's rough roads and cold temperatures.AB Volvo began activities on 10 August 1926. After 12 months of preparations between production of ten prototypes, the firm was wanting to commence the car-manufacturing business inside SKF group. The Volvo Group itself considers it were only available in 1927, if your first car, a Volvo ÖV 4, rolled off of 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, as a possible immediate success and attracted attention outside of the country. In 1930, Volvo sold 639 cars, plus the export of trucks to Europe started right after; the cars failed to become popular outside Sweden until after World War II. AB Volvo was introduced for the Stockholm Stock Exchange in 1935 and SKF then made a decision to sell its shares within the 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, premiered in 1934, and aircraft engines were added for the growing range of products for the beginning in the 1940s. In 1963, Volvo opened the Volvo Halifax Assembly plant, the very first assembly plant from 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 remainder of the construction equipment business became Volvo Construction Equipment.
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