Introduction
Ford Motor Company did own Volvo Cars for a period of time, but they no longer own the company. Volvo Cars is currently owned by Zhejiang Geely Holding, a company based in China.
Ownership History
In 1999, Ford Motor Company purchased Volvo Cars from AB Volvo for approximately $6.45 billion. However, due to a decline in sales caused by the economic recession of the late 2000s, Ford decided to sell Volvo Cars. In 2010, Volvo Cars was sold to Zhejiang Geely Holding for nearly $1.8 billion. Since then, Zhejiang Geely Holding has been the owner of Volvo Cars.
Current Ownership
As of now, Zhejiang Geely Holding is the owner of Volvo Cars. It is worth noting that Geely Holding also owns other car brands such as Lotus, Polestar, Lynk & Co, and Benelli, among others.
Conclusion
Ford Motor Company owned Volvo Cars from 1999 to 2010, but the ownership has since been transferred to Zhejiang Geely Holding, a company based in China.
Contents
- Is Volvo still Chinese owned?
- Why was Volvo Cars sold to Ford?
- What year did Volvo stop using Ford engines?
- How much of Ford does China own?
- Who did Ford buy Volvo from?
- Why did Ford sell Volvo to China?
- When did Volvo buy back from Ford?
- Has Ford ever owned Volvo?
- Is Volvo using Ford engines?
- Why did Ford buy Volvo?
Is Volvo still Chinese owned?
Volvo is currently owned by the Zhejiang Geely Holding Group, a company which owns over 15 other vehicle makers.
Why was Volvo Cars sold to Ford?
Ford put the division up for sale to raise capital in the wake of the Lehman Brothers crisis in 1999, having bought Volvo Cars from its previous parent, Swedish industrial group Volvo AB, which divested its car business to focus on building trucks.
What year did Volvo stop using Ford engines?
Volvo used a mixture of Ford engines, and its own five-cylinder turbo units, up until 2014, when all the engines began to be replaced by Volvo’s new (and still-current) family of Swedish-designed and built four-cylinder turbo engines. The best engine is Volvo’s own 2.0-litre D4 diesel, with 190hp.
How much of Ford does China own?
Changan Ford
| Company type | Joint venture |
|---|---|
| Key people | He Xiaoqing (President and CEO) Yang Dayong (Executive Vice President) |
| Products | Automobiles |
| Owner | Changan Automobile (50%) Ford Motor Company (50%) |
| Number of employees | 10,000+ |
Who did Ford buy Volvo from?
In January 1999, Volvo Group sold Volvo Car Corporation to Ford Motor Company for $6.45 billion. The division was placed within Ford’s Premier Automotive Group alongside Jaguar, Land Rover and Aston Martin.
Why did Ford sell Volvo to China?
Ford sold Volvo because they needed the money to save the rest of the company. Many figured that Volvo’s Swedish days were numbered after the divorce from Ford and Geely’s purchase: “First in line to disappear would be production, then product development”, was the general feeling.
When did Volvo buy back from Ford?
2010
Ford owned Volvo from 1999 to 2010. In 2010 Ford sold Volvo to a Chinese company called Geely.
Has Ford ever owned Volvo?
Renowned for their years of leadership in automotive safety, Volvo Cars was purchased by the Ford Motor Company and remained part of their Premier Automotive brands from 1999 to 2010. The automaker is now owned by Geely Automobile, a major automotive brand based in China.
Is Volvo using Ford engines?
Until 2014, Volvo Cars used some engines of its own and others from Ford. Now, however, the Volvo Engine Architecture (VEA) set of engines is found in all Volvo vehicles. This family of three- and four-cylinder engines are entirely designed by the Scandinavian company.
Why did Ford buy Volvo?
As with the merger of the former Daimler-Benz AG and Chrysler Corp., Ford and Volvo were a natural fit. Ford had cash and a gap in its product line. Volvo was a small player in need of a wealthy parent.
