Who is the Owner of Volvo?

If you've ever spotted a Volvo on the road, you might have wondered where this brand comes from and who owns it? One of the most trusted car brands in the world, Volvo is renowned for its safety. However, its ownership saga has been quite interesting over the decades. Let's find out who is the owner of Volvo?

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Who was the Founder of Volvo?

Source: Volvo

Assar Gabrielsson, a business man and a sales specialist, and Gustaf Larson, an auto engineer, were two Swedes who started Volvo in 1927. The two friends had the idea during a lunch in the Swedish capital and decided to make a car firm together. 

Volvo mentions: “The founders were Assar Gabrielsson, a former egg seller who became the head sales manager for ball bearing giant SKF, and Gustaf Larsson, a mechanical engineer with a mind for cars and smart solutions. Together, they made sure that Volvo was turning a profit already in its third year, by which time the product line had been expanded to include both trucks and buses.”

Larson was the brain behind the project, drawing all the plans and sketches, while Gabrielsson financed, and also promoted, the vehicles. The word "Volvo" indeed comes from the Latin which means "I roll".

Who Owned Volvo Before?

For most of the 20th century, Volvo was an esteemed Swedish brand. In 1999, however, the car part was sold to American car giant, Ford Motor Company. Ford was in control of the company for more than 10 years, but eventually opted to sell Volvo Cars. This was because Volvo wanted to expand the portfolio. 

Volvo states: “An extraordinary general meeting proposed the selling of Volvo's "crown jewel", Volvo Cars, to the Ford Motor Company for SEK 50 billion.”

Back in 2010, Ford sold Volvo Cars to the Zhejiang Geely Holding Group in China for approximately $1.8 billion. It was the biggest out-of-country acquisition ever by a Chinese motor company. This transaction was done as Ford was only able to meet half its targets for Volvo. 

Volvo mentions: “In 2010, after only half-heartedly meeting its targets, Ford sold the Swedish brand to the Geely group, which continued to strategically develop the brand around three fundamental pillars: safety, the Scandinavian spirit and the ecological transition.”

Who is the Current Owner of Volvo?

Today, Volvo Cars is owned by Zhejiang Geely Holding Group, a Chinese automotive union. As of 2025, it owns around 78.65% of the shares of Volvo, under Geely Sweden Holdings AB. So while Volvo is a Swedish brand at heart, it is now under Chinese ownership.

Who is Li Shufu? The Man Behind Geely?

Geely's billionaire owner and chairman is Li Shufu. He has also been labeled the “Chinese Henry Ford,” as just like Ford, he also came from a humble background and built an empire from scratch. 

Li was born in Taizhou, Zhejiang province in June 1963. He started his small photography company with only 100 yuan ($16) given to him by his father when he was 19 years old. It started small, but he became one of China's largest private enterprises. 

Initially making refrigerator parts and later motorcycles, he founded Geely in 1986 and then had the car idea in the 1990s.

Who is the CEO of Volvo Right Now?

In April 2025, Hakan Samuelsson took up the role of CEO for Volvo Cars, tasked with guiding the brand through a turbulent period of change and increased rivalry. He has previously served as CEO of Volvo Cars before as well.

To sum up, Volvo is a Swedish company, sold to an American and is now owned by a Chinese billionaire who began his journey with only a small amount in his pocket. Quite a story, isn't it?

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