Did Ford own Volvo?
No, Ford did not own Volvo. Volvo is a Swedish automotive manufacturer that was acquired by the Chinese company Geely in 2010, not by Ford.
The Relationship Between Ford and Volvo
While Ford and Volvo have had a close relationship over the years, Ford never fully owned the Swedish automaker. In 1999, Ford acquired a 49% stake in Volvo's car division and eventually increased its ownership to 100% by 2010. However, this was not a full acquisition, as Volvo's truck division remained separate and was not part of the deal.
In 2010, Ford sold Volvo's car division to the Chinese company Geely Automobile, which is the current owner of the Volvo brand. This marked the end of Ford's ownership or control over Volvo's automotive operations.
Key Reasons Ford Did Not Own Volvo
- Volvo was an independent Swedish company with a strong brand identity and engineering expertise that Ford wanted to leverage, rather than fully integrate.
- Ford's acquisition strategy focused on gaining access to Volvo's technology and design capabilities, rather than a complete takeover.
- Volvo's truck division remained separate from the car division that Ford acquired, maintaining Volvo's independence.
- The sale of Volvo's car division to Geely in 2010 was driven by Ford's desire to focus on its core business and divest non-core assets during the global financial crisis.
In summary, while Ford had a significant ownership stake in Volvo's car division for over a decade, it never fully owned the Volvo brand or company. Volvo remained an independent Swedish automaker throughout Ford's involvement, until its car division was sold to the Chinese company Geely in 2010.
Who makes Volvo engines?
The Volvo Engine Architecture (VEA) is a family of straight-three and straight-four automobile petrol and diesel engines produced by Volvo Cars in Skövde, Sweden, since 2013, Zhangjiakou, China, since 2016 and Tanjung Malim, Malaysia, since 2022 by Proton.
Has Ford ever owned Volvo?
The Ford Motor Company purchased Volvo Cars in 1999, then sold them to Geely Automobile in 2010. Geely Automobile's headquarters is in Shanghai, while Volvo Cars still maintains its headquarters in Gothenburg, Sweden.
Is Volvo using Ford engines?
Until 2014, Volvo Cars used some engines of its own and others from Ford. Now, however, the Volvo Engine Architecture (VEA) set of engines is found in all Volvo vehicles. This family of three- and four-cylinder engines are entirely designed by the Scandinavian company.
How many brands did Ford own?
Ford now encompasses two brands: Ford and Lincoln. Ford once owned 5 other luxury brands: Volvo, Land Rover, Jaguar, Aston Martin, and Mercury. Over time, those brands were sold to other companies and Mercury was discontinued.
Why did Ford sell Volvo to China?
Ford sold Volvo because they needed the money to save the rest of the company. Many figured that Volvo's Swedish days were numbered after the divorce from Ford and Geely's purchase: “First in line to disappear would be production, then product development”, was the general feeling.
Who owns Ford?
Ford is owned by a diverse group of shareholders but largely controlled by the Ford family. This is made possible through Ford's dual-class stock structure that concentrates voting rights in Class B shares. The Class B shares account for 2% of the company but collectively hold 40% of the voting power.
Is Volvo 100% Chinese owned?
Geely, the biggest shareholder, controls Volvo Cars though there are other stakeholders as well for the company operates as an autonomous firm under the Chinese conglomerate. Volvo Cars has managed to stay separate from Geely despite having its majority shares owned by this Chinese multinational corporation.
Does China own 50% of Ford?
Ford owns many subsidiaries, with some of the most important focused on finance, smart technology, and joint ventures. Some of Ford's most important international operations include a 50/50 joint venture in China and a 50/50 joint venture in Thailand.
Why did Ford sell Jaguar?
Ford sold Jaguar mostly because of losses it had experienced at the time ($700 million), and over the course of its 19-year ownership of Jaguar, according to some estimates, cumulative losses of $10 billion.
Who is Volvo owned by?
the Zhejiang Geely Holding Group
Volvo is currently owned by the Zhejiang Geely Holding Group, a company which owns over 15 other vehicle makers.
