Who bought Volvo?
The luxury automotive brand Volvo Cars was acquired by the Chinese multinational conglomerate Zhejiang Geely Holding Group Co., Ltd., commonly known as Geely Holding. This significant acquisition took place in 2010.
Understanding Volvo's Ownership
Geely Holding, a major player in the global automotive industry, purchased the Volvo Cars brand, marking a pivotal moment in the Swedish automaker's history. This acquisition provided Volvo Cars with new opportunities for growth and development under Geely's ownership.
Key Details of the Acquisition
The table below summarizes the core information regarding the purchase of Volvo Cars:
| Acquirer | Acquired Entity | Acquisition Year |
|---|---|---|
| Geely Holding | Volvo Cars | 2010 |
Who is Geely Holding?
Geely Holding is an expansive and diverse multinational corporation headquartered in China. Its reach in the automotive industry is substantial, extending beyond just Volvo Cars. The acquisition of Volvo Cars in 2010 was a strategic move that significantly bolstered Geely's presence and influence in the global premium automotive segment.
Key characteristics of Geely Holding include:
- It is a Chinese conglomerate with a global footprint.
- It functions as a multinational corporation, owning and operating multiple businesses and brands within the automotive sector.
- The company's strategic vision involves investing in and developing its diverse portfolio of automotive ventures, aiming for innovation and market expansion.
Under Geely's ownership, Volvo Cars has seen substantial investments in new technologies, product development, and manufacturing capabilities, contributing to its continued success and global expansion.
