Drivers in the Billings area may be surprised to learn that Volvo models are no longer made in Sweden. Volvo is currently owned by the Zhejiang Geely Holding Group, a Chinese company which owns over 15 other vehicle makers. Even with this wide variety of brands, the Zhejiang Geely Holding Group is dedicated to ensuring that each automaker remains true to the unique aspects of their brand, while working to make them better for drivers worldwide. Learn more about who owns Volvo and who makes the Volvo models in this guide.
About The Auto Group
Based in Hangzhou, which is located in southeast China's Zhejiang Province, the Zhejiang Geely Holding Group launched their automotive business in 1997. They took control of the Swedish-made Volvo brand in 2010. So, the Zhejiang Geely Holding Group owns the brand, but who makes Volvo cars? Some drivers in the Laurel or Shepherd area may remember that for a brief period, Volvo was part of the Ford Motor Company, but currently, all Volvo vehicles are manufactured by the Geely Holding Group.
What's The Future of The Brand?
Volvo has been producing their car and truck lines separately since 1999. The Zhejiang Geely Holding Group currently owns the car lineup and has invested an 8.2-percent stake in the truck lineup, with the ultimate goal of reuniting them. No changes are expected to be made soon, but the transition is planned to occur sometime in the not-so-distant future.
Moving forward, Billings-area drivers can still expect attractive Scandinavian design, smart innovation, and cutting-edge technology, all of which are the hallmarks of the Volvo brand. Recent advancements in both production and design have also made Volvo vehicles more sustainable and safer than ever. Currently, the eco-friendly Volvo models are being equipped with the latest advanced safety technologies to add extra peace of mind to your Park City commute. All the vehicles in the new Volvo lineup, from the capable Volvo XC90 SUV to the sophisticated Volvo S60 Sedan, will continue to deliver the exquisite luxury, first-class safety, and high-quality performance that have made Volvo one of the world's premier automakers
Experience all that a New Volvo Has to Offer You Today
Who currently owns Volvo? Since 2010, The Zhejiang Geely Holding Group
Zhejiang Geely Holding Group
Geely is a phonetic transliteration of the company's native name 吉利 (pinyin: Jílì), which means "auspicious" or "propitious" in Chinese. Zhejiang Geely Holding Group was already manufacturing its own cars long before it acquired the Swedish passenger car maker Volvo Cars from Ford Motor Company in 2010.
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.
Volvo Cars was publicly listed on the Nasdaq Stockholm stock exchange in 2021, though Geely still retains majority ownership. Volvo Cars and AB Volvo share the Volvo logo, and cooperate in running the Volvo Museum.
The vast majority of Volvo vehicles are assembled in Sweden, mainly at the Torslanda and Skovde facilities. Volvo cars for the Asian market are assembled across four facilities in China. Volvo Cars recently opened a plant in Ridgeville, South Carolina, where all American market Volvo S60 sedans are made.
The Volvo Group sells its products under the Volvo, Volvo Penta, Rokbak, Renault Trucks, Prevost, Nova Bus, Mack and Arquus brands. We also partner in alliances and joint ventures in SDLG, Milence, Eicher, Dongfeng and cellcentric.
The word "Volvo" became a registered trademark in 1911 after branding executives took the infinitive of the Latin verb "volvere (to roll)" and conjugated it into Volvo, which means "I roll." Before Volvo Cars was ever born, this name was initially applied to the parent company's first product: iron ball bearings.
When Geely Holding Group acquired Volvo Cars from Ford in 2010, just how the Chinese and Swedish companies would mesh was unclear. More than a decade later, Chinese ownership has helped change Volvo from a money-losing albatross to a trend-setting electric-vehicle manufacturer.
Who makes the engines for Volvo Cars? Since 2013, all petrol and diesel engines are proudly made by Volvo Cars at their Skövde, Sweden facility. This family of VEA engines (Volvo Engine Architecture) is produced for nearly all global markets.
How Reliable is the Volvo Brand? Volvo is a car brand with an average to above-average reliability, depending on where you look. So if you're looking for the most reliable brand, Volvo isn't likely your top choice. On the flip side, you can purchase a Volvo and trust that you'll be driving a fairly reliable vehicle.
If you asked, "does Ford own Volvo?" today, however, the answer would be "no." That honor is now held by Zhejiang Geely Holding, a company based in China. Though a Chinese company owns Volvo Cars, not all of the company's production occurs there.
Are Volvos Expensive to Service? While the Volvo brand is listed higher in cost on a list created by Your Mechanic Inc., Volvos are more affordable to maintain than other luxury brands. Over a ten-year period of ownership, Volvo models cost an average of $100 more to maintain than Audi models.
Volvo has three factories in China including plants in Chengdu and Taizhou. However, its plant in Daqing is the only one that services the United States market. The full-size S90 sedan comes straight from this plant.
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.
Volvo Cars formed part of the Swedish Volvo Group until 1999, when the company was bought by Ford Motor Company. In 2010, Volvo Cars was acquired by Geely Holding. Volvo Cars still has manufacturing facilities in Sweden and several other locations, including China.
In January 1999, Volvo Group sold Volvo Car Corporation to Ford Motor Company for $6.45 billion. The division was placed within Ford's Premier Automotive Group alongside Jaguar, Land Rover and Aston Martin.
How Reliable is the Volvo Brand? Volvo is a car brand with an average to above-average reliability, depending on where you look. So if you're looking for the most reliable brand, Volvo isn't likely your top choice. On the flip side, you can purchase a Volvo and trust that you'll be driving a fairly reliable vehicle.
Are Volvos Expensive to Service? While the Volvo brand is listed higher in cost on a list created by Your Mechanic Inc., Volvos are more affordable to maintain than other luxury brands. Over a ten-year period of ownership, Volvo models cost an average of $100 more to maintain than Audi models.
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