Volkswagen doesn’t own Volvo. Volvo is owned by the Chinese automotive group Geely, which acquired the Swedish automaker from Ford in 2010.
Current Ownership of Volvo
Volvo is a Swedish luxury car brand that has been in operation since 1927. Over the years, the brand has changed hands several times.
Ownership by Geely
In 2010, Volvo was purchased by Chinese automaker Geely Holding Group. The acquisition was seen as a bold move by Geely to expand its global presence.
The purchase of Volvo gave Geely access to advanced technology and engineering expertise.
Since the acquisition, Volvo has continued to operate as a separate entity. Geely has allowed Volvo to maintain its unique identity and has invested heavily in the brand.
In recent years, Volvo has become a leader in the development of electric and hybrid vehicles.
Rumors of Volkswagen Ownership
There have been rumors that Volkswagen may be interested in acquiring Volvo. Volkswagen is a German automaker that owns several other car brands, including Audi, Porsche, and Lamborghini.
However, in 2018, Volkswagen CEO Herbert Diess clarified that the company was not interested in acquiring Volvo.
Diess stated that Volkswagen was focused on investing in its existing brands and developing electric vehicles.
Clarification from Volkswagen and Volvo
In response to the rumors, both Volkswagen and Volvo have issued statements clarifying the ownership situation.
In a statement, Volvo CEO Hakan Samuelsson confirmed that the company was owned by Geely and that there were no plans to change ownership.
Volkswagen has also reiterated that it has no plans to acquire Volvo. The company has stated that it is focused on developing its existing brands and expanding its electric vehicle offerings.
In conclusion, Volvo is currently owned by Geely Holding Group, a Chinese automaker.
Despite rumors to the contrary, there are no plans for Volkswagen to acquire Volvo. Both companies have issued statements confirming the current ownership situation.
History of Volkswagen and Volvo
| Criteria | Volvo | Volkswagen |
|---|---|---|
| Country of origin | Sweden | Germany |
| Brand identity | Safety and practicality | Engineering and performance |
| Target market | Families and safety-conscious drivers | Driving enthusiasts and performance-oriented drivers |
| Product lineup | SUVs and station wagons | Hatchbacks and sedans |
| Ownership | Owned by Geely, a Chinese automotive group | Owned by Volkswagen AG, a German multinational automotive manufacturing company |
Founding of Volkswagen
Volkswagen was founded in 1937 in Berlin, Germany, by the German Labour Front. The company was initially established to manufacture affordable cars for the German public.
The first Volkswagen car, the Beetle, was designed by Ferdinand Porsche and went into production in 1938.
The Beetle became one of the most iconic cars of the 20th century and was produced until 2003.
Founding of Volvo
Volvo was founded in 1927 in Gothenburg, Sweden, by Assar Gabrielsson and Gustaf Larson.
The company was initially established to produce cars for sale to the public but soon expanded into commercial vehicles, buses, and trucks.
The first Volvo car, the ÖV4, was an open tourer with a four-cylinder engine, and it drove out of the factory gates in Gothenburg on the morning of April 14, 1927.
Acquisitions by Volkswagen
Over the years, Volkswagen has acquired several well-known car brands. Some of the most notable acquisitions include:
- Audi, Bentley, Bugatti, Lamborghini, Porsche, Scout, and Volkswagen
- Skoda Auto
- SEAT
- Ducati
Acquisitions by Volvo
Volvo has also made several acquisitions over the years, but it has not acquired any major car brands. Some of the notable acquisitions include:
- Renault Trucks
- Mack Trucks
- UD Trucks
- In 2010, Volvo sold its automobile division, Volvo Cars, to the Chinese carmaker Geely.
In conclusion, while Volkswagen has acquired several well-known car brands, it has not acquired Volvo.
In fact, Volvo was sold to Geely in 2010 and is now owned by the Chinese carmaker.
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Machinery, engines, and farming have always been a passion of his since he was a young boy. Growing up on a small farm in rural America, he learned the value of hard work and dedication from an early age.
After completing his degree in Engineering, he decided to follow his dream and became a farmer in 2009.
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