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Volvo's history in Malaysia dates back to the early 1960s. Four businessmen from Penang had travelled to Volvo's establishment in Sweden to propose plans to market Volvo cars in Malaysia. [4] [5] Volvo granted the group the distributorship rights, and the Federal Auto Company Sdn. Bhd. was founded in March 1960. [6]
Volvo Car Manufacturing Malaysia (VCMM) operates an assembly plant in Shah Alam with an annual capacity of 10,000 units. VCMM assembles Volvo passenger cars for both domestic and export markets. Volvo Car Manufacturing Malaysia is a wholly owned subsidiary of Sweden-based Volvo Car Corporation. The 50-year-old VCMM plant is the oldest ...
Malaysia's car industry is dominated by two local manufacturers which are heavily supported by the government through National Car Policy e.g. trade barriers. These local manufacturers are Proton and Perodua. [2] These excise duties imposed on foreign manufactured cars have made them very expensive for consumers in Malaysia.
On 28 March 2010, Ford sold Volvo Cars at a loss to Geely Holding for $1.8 billion; the deal closed in August 2010. [4] [5] Volvo Cars was publicly listed on the Nasdaq Stockholm stock exchange in 2021, though Geely Holding still retains majority ownership. Volvo Cars and AB Volvo share the Volvo logo, and cooperate in running the Volvo Museum.
With a built-up area of 250,414 square feet and the capacity to display 2,000 cars, the Naza Auto Mall symbolized the group's status as the largest importer of used and re-conditioned luxury and high-end vehicles in Malaysia. Naza Auto Mall and has won a mention in the Malaysia Book of Records for being the largest motor showroom in the country.
The car helped change perceptions of Volvo: "The S40/V40 range was the car] that finally persuaded buyers that Volvo really could build a credible compact executive car", reported the RAC. [12] For the 2000 model year, Volvo expanded the S40/V40's market to North America, where this range went on sale exclusively with the 1.9 liter turbo. [13]
DRB-HICOM is the majority shareholder of Malaysia's national car company, Proton, with China's Zhejiang Geely Holding Group the other shareholder since an equity sale in 2017. [2] The Group also owns national motorcycle company Modenas , with Japanese two-wheeler giant Kawasaki as its partner. [ 3 ]
The Volvo T5 petrol engine was used in the Ford Focus ST and RS performance models, and Volvo's satellite navigation system was used on certain Aston Martin Vanquish, DB9 and V8 Vantage models. [22] [23] [24] In November 1999, Volvo Group purchased a 5% stake in Mitsubishi Motors, as part of a partnership deal for the truck and bus business. [25]
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