Volvo Cars (Swedish: Volvo personvagnar), stylized as VOLVO, is a luxury
vehicles brand and a subsidiary of the Chinese automotive company Geely. It is
headquartered in Torslanda in Gothenburg, Sweden.
The company manufactures and markets sport utility vehicles (SUVs), station wagons, sedans and compact executive sedans. The Volvo Group was founded in 1927 as a subsidiary of the ball bearing manufacturer SKF. When AB Volvo (now a separate company) was introduced on the Stockholm stock exchange in 1935, SKF sold most of its shares in the company. Its cars are marketed as being safe, solidly built, and reliable.
The heavy truck and construction equipment conglomerate AB Volvo and Volvo Cars have been independent companies since AB Volvo sold Volvo Cars to the Ford Motor Company in 1999. Volvo Cars has been majority-owned since 2010 by the Geely Holding Group. Both AB Volvo and Volvo Cars share the Volvo logo, and cooperate in running the Volvo Museum. With approximately 2,300 local dealers from around 100 national sales companies worldwide, Volvo Cars' largest markets are China, the United States, Sweden and other countries in the European Union. Most of its worldwide employees are based in Sweden.
In the United States, Volvo paid $19.6 million in fines for missing its Corporate Average Fuel Economy targets for the 2010–2014 model years. In July 2017, Volvo announced that new models launched from 2019 onward would be fully electric or hybrid-electric, heralding the end of production of nearly a century of Volvo vehicles powered solely by the internal combustion engine. Volvo, however, will continue to produce non-electric, non-hybrid cars from models introduced before that year but will discontinue them once the non-hybrid, non-electric cars receive a facelift or complete redesign. In 2019, Volvo announced that it plans to produce only electrified cars from the year 2040 onwards.