Are you interested in discovering the history of Volvo?
Most people know that this is a European brand that was established nearly a century ago. Safety, reliability, and innovation are the main keywords that the company operates under. Like any good automobile company, Volvo is constantly changing and evolving. The company’s latest models run on electricity, while there are also gas-turbine hybrids to choose from.
So, if you want to know Who Owns Volvo? Then it’s time to find out…
Contents
Company Foundation
The company was founded in 1924 by Gustaf Larson and Assar Gabrielsson. The two Swedish designers and innovators met in the café Sturehof in Gothenburg. Legend has it that the two men discussed automobile manufacture over a plate of freshly-caught crawfish.
The driving force was the realization that the vehicles that were being produced were lacking in terms of safety. Another important aspect is that both Gustaf Larson and Assar Gabrielsson were concerned with protecting the environment. These core values have been closely guarded and remain important features of the company to this day.
The Start Of Production
The company began designing and producing vehicles in 1927. The first vehicle that the company produced was the ÖV4, which is affectionately nicknamed the Jakob. This was an open car featuring four cylinders. The body of the ÖV4 was built on a beech and ash frame, and it was covered with sheet metal. The only available color combination was a stylish dark blue with black wings.
The International Launch
Volvo reached international status on September 1st, 1944, when the PV444 was presented in the city of Stockholm. The vehicle was dubbed ‘the little Volvo’ and was viewed as Sweden’s dream of post-war prosperity.
Less than two weeks later, 2,300 had placed orders for the PV444. However, deliveries of this car did not commence until 1947. The car was a smart two-door model that offered excellent fuel economy.
Headquarters stay local…
The company’s headquarters remain in Sweden, and this is where the main manufacturing plant can be found. There are also prominent manufacturing plants in Belgium and China. In recent years, the first American manufacturing facility was opened in the state of South Carolina.
Introduction of the Seatbelt
Despite the pressure to create faster and more impressive automobiles, safety has always been an important consideration. In 1959, Volvo’s chief engineer Nils Bohlin designed a revolutionary seatbelt to dramatically enhance safety. This seatbelt was showcased in the PV544 when it was launched in 1959.
This special three-point seatbelt technology has now been installed in vehicles all around the world. Over the years, it is believed that this seatbelt has saved more than a million lives. This was made possible because the company decided to waive the patent rights to the seatbelt design. This has allowed the whole world to benefit from the simple yet very important automobile invention.
Racing Vehicles
Volvo was one of the first companies to design and build race-winning cars. The PV544 was first driven at the Safari Rally in April of 1965. This rally is known for being especially tough, and even being placed among the winners is seen to be a significant achievement.
Siblings Jaswant and Joginder drove the Pv544 in the Safari Rally. The brothers won the race to great acclaim. This important win highlighted Volvo’s mastery in designing and building sports vehicles.
Rearward-Facing Child Seats
The company presented the first rearward-facing child seat in 1967. This special seat was created by taking a front passenger seat and turning it around. A padded backrest was added, along with straps to hold young children securely in place.
These innovative child seats were specially designed to support the neck during impact. During a frontal impact, the seats spread the force over the back of the seat and reduce the force. The company’s commitment to safety drove it to constantly evolve and advance. A collection of Volvo 240 vehicles were bought by the United States Government for crash testing.
Who Owns Volvo? – Current Ownership
In 1999, the Volvo Car Corporation was sold to the Ford Motor Company for 50 billion Swedish kronor. This placed the brand alongside the Ford Motor Company’s Premier Automotive Group. Other classic brands in this group include Lincoln, Aston Martin, Jaguar, and Land Rover.
In 2010, the company was sold once again, this time to Geely Automobile. This major Chinese automaker has its headquarters in Shanghai. This partnership exposed the brand to the largest car market in the world.
Becoming a sole entity again…
Recently, Volvo announced that it was in the process of ending its long-term partnership with the Geely Holding Group. In effect, Volvo Cars have chosen to sell its interest and will become a solo entity once more. It will be interesting to see what the future holds for this Swedish car manufacturer.
Popular Volvo Models
It is no secret that the company has created some of the safest vehicles in the world. While many models are known for being quite boxy, others are undeniably stylish. Here are some of the most popular models that have been launched over the years.
The C70 Convertible
This sleek and stylish vehicle was first released in 1997 and quickly became a yuppie icon. This model features a retractable hardtop in three sections, which was designed by Pininfarina. The vehicle received an extensive facelift in 2009 and still remains popular to this day.
The 164
This model was released in 1969 and remained in production until 1975. It features a ribbon radiator grille with a diagonal chrome strip bearing the company’s emblem. The 164 is now a classic model that is coveted by collectors.
The V70 XC
This powerful four-wheel drive vehicle is a great all-rounder that can rise to every type of challenge. Also known as the Cross Country, it features large body moldings and a newly-designed front grille. The large roof rack packs the vehicle perfect for adventures, while it also comes with powerful fog lights.
While this model has been designed with safety firmly in mind, it also boasts luxurious touches. The interior is spacious and comfortable and is fitted with leather seats. The raised suspension makes the V70 XC perfect for every type of terrain, while the trunk is especially large.
The 780
This vehicle is the perfect combination of safety and style. The 780 was designed in a special collaboration between Volvo and Italian designer Bertone. The result is a beautiful luxury coupé that is also very practical.
The 850
This model was the first of its type to be fitted with a cross over the five-chamber motor. The front seat boasts self-changing belt reals, while the model also features front-wheel drive. This was the first model to present the innovative Side Impact Protection System, while it also boasts Delta-interface rear suspension.
P1900
Also known as the Volvo Sport, this striking vehicle was released in the 1950s. It was designed by Assar Gabrielsson, who is believed to have been inspired by the Chevrolet Corvette. Despite its sub-par construction and fiberglass body, this stylish model is very popular with collectors.
245 Turbo
This was the first estate car to be fitted with a powerful turbo engine. The 245 Turbo was released in 1980 and proved that the company excelled in making estate vehicles. While considered to be a little boxy by today’s standards, the car perfectly matched the aesthetics of the ‘80s.
262C
This model was fitted with a V6 engine and designed and built by the Bertone Italian design house. This was the company’s second luxury coupé, and it started production in 1977. This striking vehicle was aimed at the US market and came with a range of bells and whistles. It was originally only available in silver and came with a black vinyl-wrapped roof.
480
This charming hatchback features pop-up headlights and was produced in the Netherlands Born plant from 1986 to 1995. This was the first front-wheel drive car to be produced by Volvo, and it proved to be an instant hit. The vehicle was also fitted with an innovative and powerful transverse engine.
850 T-5R
This model had a very limited run when it was originally released in 1995. The 850 T-5R proved to be so popular that it was released for a second run the following year. Despite its boxy shape, this model provides plenty of performance that delivers 240bhp. This is largely because Porsche helped to tune the turbocharged five-cylinder engine.
XC90 V8
Safe and sensible are the watchwords of this large and sleek model. The V8 engine was built by Yamaha and was transversely mounted. This is a reliable performer that meets the challenges of every type of terrain.
Curious About Other Companies?
I would be too! So, take a look at a variety of articles such as Who Owns Dreamworks and Who Owns Netflix if you love your movies, as well as Who Owns ESPN, Who Owns Fox News, or Who Owns Subaru, Who Owns Wayfair, and Who Owns Mint Mobile in 2023.
For the avid app users (which is pretty much everyone these days!), find out Who Owns Zillow, Who Owns Twitter, along with Who Owns Cash App, and Who Owns Zelle?
Another interesting read is Who Owns The Jordan Brand, which might surprise you, and finally, we’ve also covered Who Owns Dr. Pepper, Who Owns Hershey, and Who Owns Popeyes, for the love of fried chicken!
Who Owns Volvo? – Final Thoughts
The Volvo automobile brand was founded in Sweden and is one of the world’s most popular vehicle manufacturers. The main intention was to create vehicles that increased road safety in Sweden and the rest of the world. The company’s commitment to safety and innovation has helped it to grow considerably over the years.
Volvo company ownership has changed a few times over the decades. Certain subdivisions of the company have also changed hands. However, the company’s commitment to safety and innovation has remained unchanged to this day.
Hope you enjoyed the article and learned something new!
