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The Volvo Group 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, Volvo also supplies marine and industrial drive systems and financial services. In 2016, it was the world’s second largest manufacturer of heavy-duty trucks.
Aktiebolaget Volvo is a Swedish multinational assembling organization headquartered in Gothenburg, Sweden. Its essential movement is the creation, conveyance and offer of trucks, transports, and development gear. Volvo likewise supplies marine and streamlined drive frameworks, and gives fiscal administrations. In spite of the fact that Volvo was made in 1915 as a subsidiary of AB SKF, a Swedish metal sphere producer, the car maker sees itself as formally established on 14 April 1927, when the first auto, the Volvo ÖV 4 arrangement, warmly known as “Jakob”, took off of the production line in Hisingen, Gothenburg.Volvo signifies “I move” in Latin, conjugated from “volvere”, in connection to metal ring. The name Volvo was initially enlisted in May 1911 as a separate organization inside SKF AB and as an enrolled trademark with the aim to be utilized for an extraordinary arrangement of ball bearing. This thought was utilized for a brief time of time and SKF chose to utilize “SKF” as the trademark for all its bearing items.
In 1924, Assar Gabrielsson, a SKF Sales Manager, and Engineer Gustav Larson, the two organizers, chose to begin development of a Swedish auto. Their vision was to assemble autos that could withstand the rigors of Sweden’s harsh ways and frosty temperatures.
The organization AB Volvo had no exercises until 10 August 1926. Following one year of arrangements including the generation of ten models, was set up to do the auto fabricating business inside the SKF bunch. Stomach muscle Volvo was presented at the Stockholm stock trade in 1935 and SKF then chose to offer its experience the organization. Volvo was delisted from NASDAQ in June 2007, however remains recorded on the Stockholm trade.
In 1999, Volvo sold its auto division Volvo Cars to Ford Motor Company for $6.45 billion. The Volvo trademark was imparted between AB Volvo, where it is utilized on overwhelming vehicles, and the unit of Ford, where it was utilized on autos. Volvo quit posting benefits in 2005,and in 2008, Ford chose to offer its enthusiasm toward Volvo Cars.
In August 2010, Ford finished its offer of Volvo Cars to the Chinese engine producer Geely Automobile (Zhejiang Geely Holding Group) for $1.8 billion.