Volvo, a famous luxury car brand in Sweden, was once translated as "rich". The brand was founded in Gothenburg, Sweden in 1927.
Volvo Group now owns Volvo Trucks, Volvo buses, Volvo Construction Equipment and other related brands.
Volvo cars are no longer owned by Volvo Group and were acquired by China Geely Holding Group in 2010.
In 1999, Volvo Group sold its Volvo car business to Ford Motor Company of the United States.
In 2010, Zhejiang Geely Holding Group, a Chinese automobile company, purchased Volvo car business from Ford and obtained the ownership of Volvo car brand.
