The Volvo Group (Swedish: Volvokoncernen; legally Aktiebolaget Volvo, shortened to AB Volvo) (stylized as VOLVO) can be 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 turned out the world's second largest manufacturer of heavy-duty trucks.Automobile manufacturer Volvo Cars, also operating out of Gothenburg, was section of AB Volvo until 1999, when it absolutely was 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 for 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 on the company's first car series, the Volvo ÖV 4, on 14 April 1927, because their beginning. The building remains.The name Volvo was originally registered being a trademark in May 1911 together with the intention to use for a new number 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 since the trademark for those its bearing products.In 1924, Assar Gabrielsson, an SKF sales team leader, along with a KTH Royal Institute of Technology educated engineer Gustav Larson, the 2 founders,[clarification needed] chose to start construction of any Swedish car. They created to build cars that may withstand the rigors from the country's rough roads and cold temperatures.AB Volvo began activities on 10 August 1926. After 1 year of preparations regarding the production of ten prototypes, the firm was wanting to commence the car-manufacturing business from the SKF group. The Volvo Group itself considers it were only available in 1927, once the first car, a Volvo ÖV 4, rolled over production line for 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 didn't become popular 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 from the company. By 1942, Volvo acquired the Swedish precision engineering company Svenska Flygmotor (later renamed as Volvo Aero).Pentaverken, which have manufactured engines for Volvo, was acquired in 1935, providing a safe and secure supply of engines and entry in to the marine engine market.The first bus, named B1, premiered in 1934, and aircraft engines were added to your growing range of products on the beginning with the 1940s. In 1963, Volvo opened the Volvo Halifax Assembly plant, the primary assembly plant from the company's history beyond 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 remainder of the construction equipment business became Volvo Construction Equipment.
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