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 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 turned out the world's second largest manufacturer of heavy-duty trucks.Automobile manufacturer Volvo Cars, also operating out of Gothenburg, was a part of AB Volvo until 1999, when it had been sold to your 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 for 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 in the company's first car series, the Volvo ÖV 4, on 14 April 1927, his or her beginning. The building remains.The name Volvo was originally registered being a trademark in May 1911 with all the intention to use for a new compilation 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 everyone its bearing products.In 1924, Assar Gabrielsson, an SKF sales team leader, plus a KTH Royal Institute of Technology educated engineer Gustav Larson, the 2 founders,[clarification needed] chosen to start construction of an Swedish car. They designed to build cars that might withstand the rigors on the country's rough roads and cold temperatures.AB Volvo began activities on 10 August 1926. After 12 months of preparations between production of ten prototypes, the firm was prepared to commence the car-manufacturing business in the SKF group. The Volvo Group itself considers it began in 1927, if the first car, a Volvo ÖV 4, rolled away from the 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, just as one immediate success and attracted attention outside of the country. In 1930, Volvo sold 639 cars, plus the export of trucks to Europe started shortly after; the cars would not become recognized outside Sweden until after World War II. AB Volvo was introduced for the Stockholm Stock Exchange in 1935 and SKF then made a decision 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 have manufactured engines for Volvo, was acquired in 1935, providing a good supply of engines and entry in to the marine engine market.The first bus, named B1, was already released in 1934, and aircraft engines were added towards the growing range of products on the beginning on the 1940s. In 1963, Volvo opened the Volvo Halifax Assembly plant, the very first assembly plant inside company's history over and above 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 rest of the construction equipment business became Volvo Construction Equipment.
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