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Volvo is a Swedish vehicle manufacturing company based in Hisingen, Sweden. The company is currently owned by the Geely Holding Group, a Chinese multi automotive manufacturing company. Most of the workers of the Volvo Company are based in Sweden while others are located in the Volvo assembly industries that are located in some continent.

 

Some of the car model produced by Volvo include sedan and wagon sold in Canada, USA, Europe and other countries. Since its beginning, the company has made tremendous success in the market with a new model in July 2017 being the electric powered vehicles.

 

 

Volvo Company was established in 1927 by SKF. However, the trademark name 'Volvo' was pattern some years back in 1915 with the objectives of producing unique ball bearings for the Americas market. Assar Gabrielsson was appointed to be the director of the company and Gustav Larson as his technical manager. Immediately after the company was established, the start manufacturing vehicles. Volvo OV 4, was the first car produced intended for the local market. The car was very suitable for the Sweden landscape and climate. Later on, the company produces 2018 Volvo XC90 Oxford MS. This was a passenger car that was designed to be sold specifically in the northern America.

 

At the beginning of the 1960s, the company destines to expand its boundaries. To achieve this several assemble industry were established in different parts of the country including Canada and Belgium. With more stability and the quest to gain dominance in the automobile industry, the CEO intended to make merge with other companies. In the 1970s and 80s Volvo intended to merge with Saab and Renault. However, his effort was inhibited by various stakeholders since the company could have lost most of its shares.  Watch this video at https://www.youtube.com/user/VolvoTrucks and know more about Volvo.

 

During 1970 the company introduces a new model of passenger car, Volvo 340. The model had high sales in Europe in the 1880s. The company was able to make great sales before the advent of other cars from Japan which turns the attention of the buyers.

 

At the end of the 20th century, 2017 Volvo XC90 Oxford MSsold its share to venture into commercial vehicles industry. They acquire 5% of the share of the Japanese Mitsubishi motor. Ford obtain the ownership of the company in 1999, and more models were manufacture including Volvo s80 and VOLVO XC60. Later on, in 2008, the company was faced with critical economic instability and intended to sell the company to Geely Group Holding. Under Geely management, the company plan to release electric and hybrid vehicles.