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There is also a Volvo Baltic Race and Volvo Pacific Race, and Volvo likes to encourage its image by sponsoring golf tournaments all over the world including major championship events called the Volvo Masters and Volvo China Open. Volvo sponsored the Volvo Ocean Race, the world's leading round-the-world yacht race for the first time in 2001–02 ...
Li founded Geely in November 1986; it is now the second-largest private automobile manufacturer in China. [4] On 28 March 2010, Geely signed a deal worth US$1.8 billion to buy Swedish automobile manufacturer Volvo Cars from American automobile manufacturer Ford Motor Company. [5] It was the largest foreign purchase by a Chinese car manufacturer.
Volvo Trademark Holding AB is equally owned by AB Volvo and Volvo Car Corporation. [88] The main activity of the company is to own, maintain, protect and preserve the Volvo trademarks, including Volvo, the Volvo branding symbols (grille slash and iron mark), Volvo Penta, on behalf of its owners and to license these rights to its owners. The day ...
Volvo, owned by China’s Geely, reported deliveries surged in 2023 to 708K cars, resulting in SEK 399.3 billion ($38.37 billion) in revenue, a 21% jump from a year ago.
In October 2017, Volvo Cars and ZGH announced that Polestar, a performance and tuning brand owned by Volvo Cars, would become a standalone brand focusing on electric cars. [63] Polestar introduced its first product, the Polestar 1 coupé on 17 October 2017. The car was produced at the Polestar Production Centre in Chengdu, China. [64]
Swedish brand Volvo, which is owned by Chinese conglomerate Geely, saw its sales rise nearly 30% in the EU last year, driven by the popularity of its 36,000 euro ($40,000) EX30 electric crossover.
That vehicle will avoid the 27.5% U.S. tariff imposed on the made-in-China Polestar 2. Polestar was previously owned by Volvo, which is now owned by Geely. Polestar also plans to build its ...
The following are foreign manufacturers that operate in China either through wholly-owned manufacturing plants or joint ventures where they own more than 50 percent of the shares. Tesla. Gigafactory Shanghai (Tesla is the first and currently the only 100% foreign-owned car manufacturer in Chinese mainland) [29] BMW
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