Volvo Trucks Corporation (Swedish: Volvo Lastvagnar), stylized as VOLVO, is a global truck manufacturer based in Gothenburg, Sweden, owned by AB Volvo.In 2016, it was the world’s second largest manufacturer of heavy-duty trucks. [34] In 2016, the two companies had announced that they planned to collaborate on the design and financing of cars with self-driving systems. [38], In 1944, laminated glass was introduced in the PV model. Volvo entered the European Touring Car Championship with the Volvo 240 Turbo in the 1980s. As a premium-segment car seller, Volvo emphasizes upscale Scandinavian design that makes for a distinctive driving experience. Volvo Penta was founded as Penta in 1907 with the production of its first marine engine, the B1.The Penta company soon became an established internal combustion engine manufacturer, which in 1927 delivered the engine for Volvo's first passenger car.. Volvo acquired Penta in 1935 and Volvo Penta has been part of the Volvo Group since then. The appearance of Japanese brands like Acura and Lexus and the growing popularity of Subaru station wagons in subsequent years meant the loss of a significant market share for Volvo, one which they have never regained.[8]. It was officially unveiled at the 2007 Frankfurt Auto Show. Volvo Cars Group (Volvo Cars) is owned by Zhejiang Geely Holding (Geely Holding) of China. [24] On 28 October 2009, Ford confirmed that, after considering several offers, the preferred buyer of Volvo Cars was Zhejiang Geely Holding Group, the parent of Chinese motor manufacturer Geely Automobile. When the global economic crisis of 2008 threatened the US automakers, Swedish authorities became concerned about the fate of Volvo, should Ford file for bankruptcy. Volvo uses high-tech safety systems as standard equipment in new vehicles. The team took wins at wins at Hockenheim, Anderstorp, Brno, Österreichring and Zolder, though the wins at Anderstorp and the Österreichring were disqualified due to the use of illegal fuel. Presented in 1944 the Volvo PV444 passenger car only entered production in 1947. Volvo is currently owned by the Zhejiang Geely Holding Group, a Chinese company which owns over 15 other vehicle makers. The heavy truck and construction equipment conglomerate AB Volvo and Volvo Cars have been independent companies since AB Volvo sold Volvo Cars to the Ford Motor Company in 1999. [50], In 2005, Volvo presented the second generation of Volvo C70, which came with extra stiff door-mounted inflatable side curtains (the first of its kind in a convertible) dubbed 'DMIC'. The "VOLVO Group" is an umbrella organisation which has several brands under it. [30] As of 2016, 61.4% of its 31,416 worldwide employees were still in Sweden. It is mainly comprised of a. Volvo Car Group in short. [27][28] It is the largest overseas acquisition by a Chinese automaker. Care by Volvo is offered in several European markets, such as Germany, UK and Italy, as well as in the U.S.[36], In February 2020, Volvo and Geely announced that the companies have started formal discussions about a merger of business. "XC" stands for "cross country" originally added to a more rugged V70 model as the V70XC and indicates all wheel drive paired with a raised suspension to give it an SUV look. The outcome was the luxurious second generation Volvo S80 and the new small premium crossover Volvo XC60. The programme was expanded again in 2011, to include the Pirelli World Challenge. The first Volvo car left the assembly line on 14 April 1927, and was called Volvo ÖV 4. The diagonal line (a strip of metal) across the grille came about to hold the actual symbol, a circle with an arrow, in front of the radiator. [44], In 1994,[45] to add to its SIPS, Volvo was the first to introduce side airbags and installed them as standard equipment in all models from 1995. Cars are driven by people. Even while changing ownership, Volvo's dedication to safety and innovation has remained constant. ", "Volvo brand celebrates its 90th anniversary", "Volvo enters into agreement with Ford to sell Volvo Cars for SEK 50 billion", Mitsubishi Motors Corporation Vehicle Manufacturer Strategic Insight, "REPORT: Geely denies plans to buy Volvo", "Geely jumps to nine-year high after Goldman Bond sale (Update2)", "Goldman investment boosts China Geely's global hopes", "Re-Evaluate Strategic Options for Volvo Car Corporation", "Ford set to offload Volvo to Chinese carmaker Zhejiang Geely", "Ford reaches agreement to sell Volvo Cars and related assets to Geely", "Geely Seals Takeover of Volvo From Ford; Jacoby Named CEO", "Zhejiang Geely Completes Acquisition of Volvo Car Corporation.

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