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 will 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 operating out of Gothenburg, was component of AB Volvo until 1999, when that it was sold for the Ford Motor Company. Since 2010 it is often 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 within the Stockholm Stock Exchange in 1935, and was within the NASDAQ indices from 1985 to 2007.Volvo was established in 1915 to be a subsidiary of SKF, a ball bearing manufacturer; however the 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 brand Volvo was originally registered like a trademark in May 1911 together with 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 chose to simply use its initials as being the trademark for all 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] made a decision to start construction of the Swedish car. They meant to build cars which could withstand the rigors on the country's rough roads and cold temperatures.AB Volvo began activities on 10 August 1926. After one full year of preparations concerning the production of ten prototypes, the firm was able to commence the car-manufacturing business inside the SKF group. The Volvo Group itself considers it entered 1927, once the first car, a Volvo ÖV 4, rolled off of the 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, just as one immediate success and attracted attention outside of the country. In 1930, Volvo sold 639 cars, along with the export of trucks to Europe started right after; the cars didn't become recognized outside Sweden until after World War II. AB Volvo was introduced on the Stockholm Stock Exchange in 1935 and SKF then chosen to sell its shares within the company. By 1942, Volvo acquired the Swedish precision engineering company Svenska Flygmotor (later renamed as Volvo Aero).Pentaverken, which in fact had manufactured engines for Volvo, was acquired in 1935, providing a safe and secure supply of engines and entry in the marine engine market.The first bus, named B1, premiered in 1934, and aircraft engines were added to your growing range of products for the beginning from the 1940s. In 1963, Volvo opened the Volvo Halifax Assembly plant, the primary assembly plant from 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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