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Volvo Cars has been separate from its former parent conglomerate and producer of heavy trucks, buses, and construction equipment (among others) AB Volvo since 1999 when AB Volvo sold its automobile division Volvo Cars to Ford Motor Company for US$6.47 billion. [3]
On 28 October 2009, Ford named Geely the preferred buyer of Volvo Cars. [13] [14] On 23 December 2009, Ford confirmed that all substantive commercial terms for the sale to Geely had been settled. Geely signed a deal with Ford to acquire Volvo Cars for $1.8 billion on 28 March 2010 and closed the deal on 2 August 2010. [6]
In 1930, Volvo sold 639 cars, [12] and the export of trucks to Europe started soon after; the cars did not become well known outside Sweden until after World War II. [12] AB Volvo was introduced at the Stockholm Stock Exchange in 1935 and SKF then decided to sell its shares in the company.
Ford Motor (F) announced Monday that it has completed the sale of Volvo, its Swedish unit, to China's Zhejiang Geely Holding Group. Geely put up $1.3 billion cash for Volvo and issued a note worth ...
Ford (NYSE:F) has been shopping its Volvo unit for months. Some Wall Street analysts thought the American car maker needed the money. Now that Ford's sales in the U.S. are improving, that may not ...
1999: Ford acquires Volvo car division from Volvo. Bill Ford becomes chairman of the board, replacing Jacques Nasser. A smaller sporty Mercury Cougar is reintroduced with front-wheel drive. Jaguar Racing Formula One team is formed, with Jackie Stewart at the helm. Ford splits its full-sized pick-ups into two distinct models (the first to do so ...
In 1931, Volvo acquired a majority of the Penta stock, and in 1935, Penta became a subsidiary of Volvo. For the engines used by Volvo Trucks, see List of Volvo Trucks engines. Previous owner, Ford Motor Company, allowed Volvo to continue to design their own engines, with a new-generation straight-six engine introduced in 2006.
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