Volvo

The Volvo Group (Swedish: Volvokoncernen; legally Aktiebolaget Volvo,

AB Volvo
shortened to AB Volvo, stylized as VOLVO) is a Swedish multinational
manufacturing company headquartered in Gothenburg. While its core activity is
the production, distribution and sale of trucks, buses and construction equipment,
Type Publicly traded
Volvo also supplies marine and industrial drive systems and financial services. In
Aktiebolag
2016, it was the world's second largest manufacturer of heavy-duty trucks.[3]
Traded as Nasdaq
Automobile manufacturer Volvo Cars, also based in Gothenburg, was part of AB Stockholm: VOLV B
(http://www.nasdaq
Volvo until 1999, when it was sold to the Ford Motor Company. Since 2010 it
omxnordic.com/akti
has been owned by the Geely Holding Group, China's biggest multinational
er/microsite?langua
automotive manufacturing company. Both AB Volvo and Volvo Cars share the
geId=1&Instrument
Volvo logo and cooperate in running the Volvo Museum in Sweden. =SSE366)

The company was first listed on the Stockholm Stock Exchange in 1935, and Industry Automotive
was on the NASDAQ indices from 1985 to 2007.[4] Founded 1927
Founders Assar Gabrielsson
Volvo was established in 1915 as a subsidiary of SKF, a ball bearing
and Gustav Larson
manufacturer; however both the Volvo Group and Volvo Cars regard the rollout
of the company's first car series, the Volvo ÖV 4, on 14 April 1927, as their Headquarters Gothenburg,
Sweden
beginning.[5] The building remains (57°42′50″N 11°55′19″E).
Area served Worldwide
Key people Carl-Henric
Svanberg (Chairman)
Contents Martin Lundstedt
(President and CEO)
History
Early years and international expansion Products Trucks, buses,
Partnerships and merging attempts construction
Refocusing on heavy vehicles equipment, marine
Business and industrial
engines, financial
Trademark
services, product
Collaboration with universities and colleges related services
See also
Revenue 390.834 billion kr
References (2018)[1]
External links Operating 34.478 billion kr
income (2018)[1]
Net income 25.363 billion kr
History (2018)[1]
Total assets 474.663 billion kr
(2018)[1]
Early years and international expansion
Total equity 125.831 billion kr
The brand name Volvo was originally registered as a trademark in May 1911 with (2018)[1]
the intention to be used for a new series of SKF ball bearings. It means "I roll" in 105 175 (2018)[2]
Number of
Latin, conjugated from "volvere". The idea was short-lived, and SKF decided to employees
simply use its initials as the trademark for all its bearing products.[6] Subsidiaries Volvo Trucks
Mack Trucks
In 1924, Assar Gabrielsson, an SKF sales manager, and a KTH Royal Institute of Renault Trucks
Technology educated engineer Gustav Larson, the two founders, decided to start UD Trucks
construction of a Swedish car. They intended to build cars that could withstand Volvo Construction
the rigors of the country's rough roads and cold temperatures.[7] Equipment
Volvo Buses
AB Volvo began activities on 10 August 1926. After one year of preparations Volvo Penta
involving the production of ten prototypes, the firm was ready to commence the Arquus
car-manufacturing business within the SKF group. The Volvo Group itself Volvo Financial
considers it started in 1927, when the first car, a Volvo ÖV 4, rolled off the Services
production line at the factory in Hisingen, Gothenburg.[8] Only 280 cars were Website volvogroup.com (htt
built that year.[9] The first truck, the "Series 1", debuted in January 1928, as an p://volvogroup.com)
immediate success and attracted attention outside the country.[6] In 1930, Volvo
sold 639 cars,[9] and the export of trucks to Europe started soon after; the cars
did not become well known outside Sweden until after World War II.[9] AB
Volvo was introduced at the Stockholm Stock Exchange in 1935 and SKF then
decided to sell its shares in the company. By 1942, Volvo acquired the Swedish
precision engineering company Svenska Flygmotor (later renamed as Volvo
Aero).[6]

Pentaverken, which had manufactured engines for Volvo, was acquired in 1935,
providing a secure supply of engines and entry into the marine engine The first Volvo car, a Volvo ÖV 4, left
market.[10] the assembly line on 14 April 1927

The first bus, named B1, was launched 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.

In 1950, Volvo acquired the Swedish construction and agricultural equipment manufacturer Bolinder-Munktell.[11] Bolinder-
Munktell was renamed as Volvo BM in 1973.[12] In 1979, Volvo BM's agricultural equipment business was sold to Valmet.[13]
Later, through restructuring and acquisitions, the remaining construction equipment business became Volvo Construction
Equipment.[11]

Partnerships and merging attempts

In 1977, Volvo tried to combine operations with rival Swedish automotive group Saab-Scania, but the latter company rejected
it.[6] In the 1970s, French manufacturer Renault and Volvo started to collaborate.[14] In 1978, Volvo Car Corporation was spun
off as a separate company within the Volvo group[15] and Renault acquired a minority stake,[6] before selling it back in the 1980s
after a restructuring.[14] In the 1990s, Renault and Volvo deepened their collaboration and both companies partnered in
purchasing, research and development and quality control while increasing their cross-ownership. Renault would assist Volvo
with entry-level and medium segment vehicles and in return Volvo would share technology with Renault in upper segments. In
1993, a 1994 Volvo-Renault merger deal was announced. The deal was barely accepted in France, but it was opposed in Sweden,
and the Volvo shareholders and company board voted against it.[6][14] The alliance was officially dissolved in February 1994 and
Volvo sold off its minority Renault stake in 1997.[6]

In 1991, the Volvo Group participated 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.[16][17] During the 1990s, Volvo also partnered with the American manufacturer General Motors. In 1999, the
European Union blocked a merger with Scania AB.[6]
Refocusing on heavy vehicles
In January 1999, Volvo Group sold Volvo Car Corporation to Ford Motor Company for $6.45 billion. The division was placed
within Ford's Premier Automotive Group alongside Jaguar, Land Rover and Aston Martin. Volvo engineering resources and
components would be used in various Ford, Land Rover and Aston Martin products, with the second generation Land Rover
Freelander designed on the same platform as the second generation Volvo S80. The Volvo T5 petrol engine was used in the Ford
Focus ST and RS performance models, and Volvo's satellite navigation system was used on certain Aston Martin Vanquish, DB9
and V8 Vantage models.[18][19][20] In November 1999, Volvo Group purchased a 5% stake in Mitsubishi Motors, as part of a
partnership deal for the truck and bus business.[21] In 2001, after DaimlerChrysler bought a large Mitsubishi Motors stake,[22]
Volvo sold its shares to the former.[23]

Renault Véhicules Industriels (which included Mack Trucks, but not Renault's stake in Irisbus) was sold to Volvo during January
2001, and Volvo renamed it Renault Trucks in 2002. Renault became AB Volvo's biggest shareholder with a 19.9% stake (in
shares and voting rights) as part of the deal.[24] Renault increased its shareholding to 21.7% by 2010.[25]

AB Volvo acquired 13% of the shares in the Japanese truck manufacturer Nissan Diesel from Nissan (part of the Renault-Nissan
Alliance) during 2006, becoming a major shareholder. Volvo Group took complete ownership of Nissan Diesel in 2007 to extend
its presence in the Asian Pacific market.[7][26]

Renault sold 14.9% of their stake in AB Volvo in October 2010 (comprising 14.9% of the share capital and 3.8% of the voting
rights) for €3.02 billion. This share sale left Renault with around 17.5% of Volvo's voting rights.[25] Renault sold their remaining
shares in December 2012 (comprising 6.5% of the share capital and 17.2% of the voting rights at the time of transaction) for €1.6
billion, leaving Swedish industrial investment group Aktiebolaget Industrivärden as the largest shareholder, with 6.2% of the
share capital and 18.7% of the voting rights.[27][28] That same year, Volvo sold Volvo Aero to the British company GKN.[29] In
2017 Volvo Cars owner Geely became the largest Volvo shareholder by number of shares after acquiring an 8.2% stake,
displacing Industrivärden. Industrivärden kept more voting rights than Geely (Geely getting a 15.8%).[30]

In December 2013, Volvo sold its Volvo Construction Equipment Rents division to Platinum Equity.[31] In 2014, Volvo's Volvo
Construction Equipment acquired the haul truck manufacturing division of Terex Corporation, which included five truck models
and a manufacturing facility in Motherwell, Scotland.[32][33][34] In November 2016, Volvo announced its intention of divesting
its Government Sales division, made up mainly of Renault Trucks' Renault Trucks Defense but also of Panhard, ACMAT, Mack
Defense in the United States, and Volvo Defense.[35] The project for selling the division was later abandoned and, in May 2018,
Volvo reorganized Renault Trucks Defense and renamed it Arquus.[36]

In December 2018, Volvo announced it intended to sell a 75.1% controlling stake of its car telematics subsidiary WirelessCar to
Volkswagen with the aim of focusing on telematics for commercial vehicles.[37] The sale was completed in March 2019.[38]

Business
Volvo Group's operations include:

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)
Mack Trucks (light-duty trucks for close distribution and heavy-duty trucks for long distance transportation)
Renault Trucks (heavy-duty trucks for regional transportations and heavy-duty trucks for the construction work
segment)
UD Trucks (midsize-duty trucks)
Dongfeng Commercial Vehicles (45%) (trucks)
VE Commercial Vehicles (Eicher) Ltd., India (VECV), a joint venture between Volvo Group and Eicher Motors
Limited in which Volvo holds 45.6% (trucks and buses)
Volvo Construction Equipment (construction equipment)
SDLG (70%) (construction equipment)
 Volvo Buses (complete buses and bus chassis for city traffic, line traffic and tourist traffic)
Volvo Financial Services (customer financing, inter-group banking, as real estate administration)
Volvo Penta (marine engine systems for leisure boats and commercial shipping, diesel engines and drive
systems for industrial applications)
Arquus[39]

Trademark
Volvo Trademark Holding AB is equally owned by AB Volvo and Volvo Car Corporation.[40]

The main activity of the company is to own, maintain, protect and preserve the Volvo trademarks (including Volvo, the Volvo
device marks (grille slash & iron mark) Volvo Aero and Volvo Penta) on behalf of its owners and to license these rights to its
owners. The day-to-day work is focused upon maintaining the global portfolio of trademark registrations and to extend
sufficiently the scope of the registered protection for the Volvo trademarks.

The main business is also to act against unauthorised registration and use (including counterfeiting) of trademarks identical or
similar to the Volvo trademarks on a global basis.[41]

Collaboration with universities and colleges

Volvo has a strategic collaboration within research and recruitment with a number of selected colleges and universities such as
Penn State University, INSA Lyon, EMLYON Business School, NC State University, Sophia University, Chalmers University of
Technology, The Gothenburg School of Business, Economics and Law at the University of Gothenburg, Mälardalen University
College, and the University of Skövde.[42]

See also
Port of Gothenburg

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External links
Official Volvo Group website (http://www.volvogroup.com)
Official Volvo website (http://www.volvo.com) – for Volvo-branded companies.

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This page was last edited on 6 August 2019, at 21:55 (UTC).

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