Which company is owned by Ford?
Ford Motor Company, one of the largest automakers in the world, owns the Swedish car brand Volvo Cars. Volvo Cars was acquired by Ford in 1999 and remained a subsidiary of the American automotive giant until 2010, when it was sold to the Chinese company Geely Automobile.
The History of Volvo Cars and Its Acquisition by Ford
Volvo Cars was founded in 1927 in Gothenburg, Sweden, and has long been known for its focus on safety and durability. In the late 1990s, Ford saw an opportunity to expand its global reach and acquire a premium automotive brand, leading to the purchase of Volvo Cars in 1999 for $6.45 billion.
Under Ford's ownership, Volvo Cars underwent a significant transformation, with the introduction of new models and a renewed emphasis on safety and environmental sustainability. However, the global financial crisis of the late 2000s put a strain on Ford's finances, and in 2010, the company decided to sell Volvo Cars to the Chinese automaker Geely Automobile for $1.8 billion.
Volvo Cars Today
Since its acquisition by Geely, Volvo Cars has continued to thrive and expand its global presence. The company has introduced a range of new models, including the popular XC90 and XC60 SUVs, and has made significant investments in electric vehicle technology, with plans to offer a fully electric lineup by 2030.
Despite no longer being owned by Ford, Volvo Cars continues to maintain a close relationship with its former parent company, with the two automakers collaborating on various projects and sharing some technology and components.
