The Volvo Group (Swedish: Volvokoncernen; legally Aktiebolaget Volvo, shortened to AB Volvo) (stylized as VOLVO) is usually a Swedish multinational manufacturing company headquartered in Gothenburg. While its core activity would 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 situated in Gothenburg, was a part of AB Volvo until 1999, when it absolutely was sold towards 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 for the Stockholm Stock Exchange in 1935, and was for the NASDAQ indices from 1985 to 2007.Volvo was established in 1915 being a subsidiary of SKF, a ball bearing manufacturer; however the Volvo Group and Volvo Cars regard the rollout from the company's first car series, the Volvo ÖV 4, on 14 April 1927, for their beginning. The building remains.The brand Volvo was originally registered to be a trademark in May 1911 using the intention to be played with for a new number of SKF ball bearings. It means "I roll" in Latin, conjugated from "volvere". The idea was short-lived, and SKF thought we would simply use its initials as being the trademark for everyone its bearing products.In 1924, Assar Gabrielsson, an SKF sales team leader, and also a KTH Royal Institute of Technology educated engineer Gustav Larson, the 2 main founders,[clarification needed] chose to start construction of the Swedish car. They meant to build cars that can withstand the rigors with the country's rough roads and cold temperatures.AB Volvo began activities on 10 August 1926. After 1 year of preparations between production of ten prototypes, the firm was wanting 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 from the production line on the factory in Hisingen, Gothenburg. Only 280 cars were built that year. The first truck, the "Series 1", debuted in January 1928, as a possible immediate success and attracted attention beyond the country. In 1930, Volvo sold 639 cars, and also the export of trucks to Europe started immediately 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 made a decision to sell its shares inside the 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 safe and secure supply of engines and entry in the marine engine market.The first bus, named B1, was already released in 1934, and aircraft engines were added for the growing range of products with the beginning with 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 remainder of the construction equipment business became Volvo Construction Equipment.
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