The Volvo Group (Swedish: Volvokoncernen; legally Aktiebolaget Volvo, shortened to AB Volvo) (stylized as VOLVO) is really a Swedish multinational manufacturing company headquartered in Gothenburg. While its core activity could be 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 had been the world's second largest manufacturer of heavy-duty trucks.Automobile manufacturer Volvo Cars, also operating out of Gothenburg, was portion of AB Volvo until 1999, when it turned out sold on the Ford Motor Company. Since 2010 it's been owned by the Geely Holding Group, a Chinese multinational automotive manufacturing company. Both AB Volvo and Volvo Cars share the Volvo logo and cooperate in running the Volvo Museum in Sweden.The company was initially listed about the Stockholm Stock Exchange in 1935, and was about the NASDAQ indices from 1985 to 2007.Volvo was established in 1915 as being a subsidiary of SKF, a ball bearing manufacturer; however their Volvo Group and Volvo Cars regard the rollout from the company's first car series, the Volvo ÖV 4, on 14 April 1927, as his or her beginning. The building remains.The name Volvo was originally registered being a trademark in May 1911 using the intention for use for a new group of SKF ball bearings. It means "I roll" in Latin, conjugated from "volvere". The idea was short-lived, and SKF chosen to simply use its initials because trademark for many its bearing products.In 1924, Assar Gabrielsson, an SKF sales director, along with a KTH Royal Institute of Technology educated engineer Gustav Larson, both the founders,[clarification needed] chosen to start construction of an Swedish car. They designed to build cars that might withstand the rigors with the country's rough roads and cold temperatures.AB Volvo began activities on 10 August 1926. After twelve months of preparations between production of ten prototypes, the firm was able to commence the car-manufacturing business inside SKF group. The Volvo Group itself considers it began in 1927, in the event the first car, a Volvo ÖV 4, rolled over production line with the factory in Hisingen, Gothenburg. Only 280 cars were built that year. The first truck, the "Series 1", debuted in January 1928, being an immediate success and attracted attention outside of the country. In 1930, Volvo sold 639 cars, as well as the export of trucks to Europe started right after; the cars wouldn't become renowned outside Sweden until after World War II. AB Volvo was introduced in the Stockholm Stock Exchange in 1935 and SKF then made a decision to sell its shares inside company. By 1942, Volvo acquired the Swedish precision engineering company Svenska Flygmotor (later renamed as Volvo Aero).Pentaverken, that have manufactured engines for Volvo, was acquired in 1935, providing a good supply of engines and entry into your marine engine market.The first bus, named B1, was already released in 1934, and aircraft engines were added for the growing range of products in the beginning from the 1940s. In 1963, Volvo opened the Volvo Halifax Assembly plant, the 1st assembly plant from the company's history outside Sweden in Halifax, Nova Scotia, Canada.In 1950, Volvo acquired the Swedish construction and agricultural equipment manufacturer Bolinder-Munktell. Bolinder-Munktell was renamed as Volvo BM in 1973. In 1979, Volvo BM's agricultural equipment business was sold to Valmet. Later, through restructuring and acquisitions, the residual construction equipment business became Volvo Construction Equipment.
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