The Volvo Group (Swedish: Volvokoncernen; legally Aktiebolaget Volvo, shortened to AB Volvo) (stylized as VOLVO) is often 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 absolutely was the world's second largest manufacturer of heavy-duty trucks.Automobile manufacturer Volvo Cars, also headquartered in Gothenburg, was section of AB Volvo until 1999, when that it was sold for 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 for 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 both Volvo Group and Volvo Cars regard the rollout on the company's first car series, the Volvo ÖV 4, on 14 April 1927, as his or her beginning. The building remains.The name brand Volvo was originally registered being a trademark in May 1911 with all the intention to be utilized for a new group of SKF ball bearings. It means "I roll" in Latin, conjugated from "volvere". The idea was short-lived, and SKF chose to simply use its initials since the trademark for many its bearing products.In 1924, Assar Gabrielsson, an SKF sales team manager, and also a KTH Royal Institute of Technology educated engineer Gustav Larson, the 2 founders,[clarification needed] chosen to start construction of the Swedish car. They meant to build cars that might withstand the rigors in the country's rough roads and cold temperatures.AB Volvo began activities on 10 August 1926. After twelve months of preparations relating to the production of ten prototypes, the firm was wanting to commence the car-manufacturing business inside SKF group. The Volvo Group itself considers it were only available in 1927, in the event the first car, a Volvo ÖV 4, rolled away from the production line in the factory in Hisingen, Gothenburg. Only 280 cars were built that year. The first truck, the "Series 1", debuted in January 1928, for an immediate success and attracted attention beyond the country. In 1930, Volvo sold 639 cars, plus the export of trucks to Europe started shortly after; the cars failed to become well-known outside Sweden until after World War II. AB Volvo was introduced on the Stockholm Stock Exchange in 1935 and SKF then thought we would sell its shares inside company. By 1942, Volvo acquired the Swedish precision engineering company Svenska Flygmotor (later renamed as Volvo Aero).Pentaverken, that had manufactured engines for Volvo, was acquired in 1935, providing a good supply of engines and entry in the marine engine market.The first bus, named B1, premiered in 1934, and aircraft engines were added towards the growing range of products with the beginning from the 1940s. In 1963, Volvo opened the Volvo Halifax Assembly plant, the 1st assembly plant within the company's history away from 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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