Does Ford own Volvo?
No, Ford does not currently own Volvo. Volvo is a Swedish automotive manufacturer that was previously owned by Ford Motor Company, but was sold to the Chinese automaker Geely Holding Group in 2010.
The History of Ford's Ownership of Volvo
Ford acquired Volvo Cars, the passenger vehicle division of the Swedish Volvo Group, in 1999 for $6.45 billion. At the time, Ford was pursuing a strategy of acquiring premium automotive brands to diversify its portfolio beyond its core Ford brand. Under Ford's ownership, Volvo underwent a major product overhaul and gained a reputation for safety and Scandinavian design.
However, the 2008 global financial crisis hit Ford and other automakers hard. In 2010, Ford sold Volvo Cars to the Chinese automaker Geely Holding Group for $1.8 billion, a significant loss compared to the original purchase price. The sale was part of Ford's efforts to streamline its operations and focus on its core Ford and Lincoln brands.
Volvo Under Geely Ownership
Since being acquired by Geely in 2010, Volvo has undergone a renaissance. Geely has invested heavily in Volvo, allowing the brand to develop new vehicle platforms and technologies. Under Geely's ownership, Volvo has experienced a resurgence in sales and has become a more competitive player in the premium automotive market.
- Volvo has introduced several new and critically acclaimed vehicle models, such as the XC90, XC60, and S90 sedans.
- The company has also made significant investments in electrification, with plans to offer an all-electric or hybrid version of every model in its lineup by 2025.
- Volvo has also expanded its global footprint, with increased sales in China and other international markets.
Overall, Volvo's transition from Ford to Geely ownership has been a success, with the brand regaining its competitiveness and reputation in the premium automotive segment.
What companies does Ford still own?
Ford Motor Company: Ford, Lincoln, Troller. General Motors: Cadillac, GMC, Chevrolet, Holden.
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.
Are Volvo engines made by Ford?
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.
Who makes Volvo engines now?
Volvo Cars
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.
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 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.
Does Volvo use Ford parts?
Does Volvo Cars still use Ford parts? Volvo Cars will always use Genuine Volvo Parts.
Does Ford still own 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.
Who is the largest shareholder of Volvo?
Eric Li (Li Shufu) is Volvo's chairperson and has been a board member since 2010. As the founder of Geely Holding, Volvo's majority shareholder, he owns a significant stake in Volvo (either directly or via related parties), holding more than 2.3 billion shares at the end of 2023.
Is Volvo trucks owned by Ford?
Renowned for their years of leadership in automotive safety, Volvo Cars was purchased by the Ford Motor Company and remained part of their Premier Automotive brands from 1999 to 2010. The automaker is now owned by Geely Automobile, a major automotive brand based in China.
