Volvo

Volvo

Volvo Group Sweden

 

Established
1927; 90 years ago
Founder
Assar Gabrielsson and Gustav Larson

Headquarters
Gothenburg, Sweden

 

Company Overview

The Volvo is a multinational, vehicle manufacturing company established in 14 April, 1927 by Assar Gabrielsson and Gustav Larson. The company headquartered is located in Gothenburg, Sweden. The company key people are, the chairman is Carl-Henric Svanberg and company president & CEO is Martin Lundstedt. The Volvo group manufactured some products such as Trucks, Buses, Marine & Industrial engines, construction equipment and financial services. Total assets of the company was 398.916Kr billion in 2016, the operating income measured in 2016 was 20.826 kr billion.

 

 

History

Early years and international expansion

The brand name Volvo was originally registered as a trademark in May 1911 with the intention to be used for a new series of SKF ball bearings. This idea was only used for a short period and SKF decided to simply use "SKF" as the trademark for all its bearing products.

The Volvo Group started in 1927, when the first Volvo car rolled off the production line at the factory in Gothenburg, The first truck, the "Series 1", revealed in January 1928, as an instant success and attracted attention outside the country. In 1930, Volvo sold 639 cars. The first bus, named B1, was introduced in 1934, and aircraft engines were added to the growing range of products at the beginning of the 1940s. In 1963, Volvo opened the Volvo Halifax Assembly plant, the first assembly plant in the company's history outside of Sweden in Halifax, Nova Scotia, Canada.

 

Partnerships and Merging attempts

In 1977, Volvo tried to combine operations with rival Swedish automotive group Saab-Scania, but the latter company rejected it, In the 1970s, French manufacturer Renault and Volvo decided to work together. In 1978, Volvo Car Corporation was spun off as a separate company within the Volvo group. In 1993, a 1994 Volvo-Renault merger deal was announced. In 1991, the Volvo Group take part in a joint venture with Japanese automaker Mitsubishi Motors at the former DAF plant in Born, Netherlands. The operation, branded NedCar, began producing the first generation Mitsubishi Carisma alongside the Volvo S40/V40 in 1996. In 1990s, the Volvo also combined with the American manufacturer General Motors. The European Union blocked a merger with Scania AB since 1999.

 

Refocusing on heavy vehicles

Volvo Group sold Volvo Car Corporation to Ford Motor Company for $6.45 billion, in January 1999. The separation was located within Ford's Premier Automotive Group alongside Jaguar, Land Rover and Aston Martin. The Volvo T5 petrol engine was used in the Ford Focus ST and RS production models and Volvo's satellite navigation system was used on certain Aston Martin win, DB9 and V8 Vantage models. In November 2016, Volvo introduced its motive of divesting its Government Sales division, made up mostly of Renault Trucks' Renault Trucks Defense but also of Panhard, ACMAT, Mack Defense in the United States, and Volvo Defense.

 

Business

  • Renault Trucks (heavy-duty trucks for local transportations and heavy-duty trucks for the construction work section)
  • UD Trucks (midsize-duty trucks)
  • Volvo Buses (complete buses and bus chassis for city traffic, line traffic and tourist traffic)
  • VE Commercial Vehicles Ltd (VECV), a 50:50 joint venture between the Volvo Group and Eicher Motors Limited
  • Volvo Construction Equipment (construction machines)
  • Volvo Information Technology
  • Volvo Trucks (midsize-duty trucks for regional transportation and heavy-duty trucks for long distance transportation, as well as heavy-duty trucks for the construction work segment)

 

Volvo Brands

  • Eicher (50:50 joint venture with Eicher Motors, India)
  • Mack Trucks
  • Nova Bus
  • Prevost
  • Renault Trucks
  • SDLG (Shandong Lingong, China
  • Terex Trucks
  • UD Trucks
  • Volvo Construction Equipment
  • Volvo Financial Services
  • Volvo Penta
  • Volvo Trucks

 

 

Trademark

The Volvo trademark holding AB is uniformly owned by AB Volvo and Volvo Car Corporation, The main functions of the company is to own, maintain, protect and intercede. The Volvo trademarks Volvo Aero and Volvo Penta) on behalf of its owners and to license these rights to its owners.

 

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