Volvo logo history
The Volvo Group has its origins in 1927 when the first Volvo car left the production line at the factory in Gothenburg. [7] Only 297 cars were built that year. [8] The first truck, the "Series 1", debuted in January 1928, as an immediate success and attracted attention abroad. [9] In 1930, Volvo sold 639 cars, [8] and export of trucks to Europe started soon after the car was not made known outside Sweden until after the Second World War [8].
Marine engines have been part of almost as long as the trucks. Pentaverken, founded in 1907, was acquired in 1935. As early as 1929, however, the U-21 outboard engine was introduced. Continued manufacturing until 1962.
The first bus, called B1, was launched in 1934, and aircraft engines were added to the growing range of products in the early 1940s.
On January 28, 1999 Volvo Group sold its business area of Volvo Car Corporation to Ford Motor Company U.S. 6.45 billion U.S. dollars, with the enlarged group now largely set on commercial vehicles. On 2 January 2001, Renault Industrial Vehicles (which included Mack Trucks, but Renault's participation in Irisbus) was sold to Volvo, which renamed it Renault Trucks in 2002. As a result, the former parent company Renault is the largest shareholder of AB Volvo, with a 20% (in shares and voting rights).
In the last ten years the company has experienced rapid growth in the service area, for example, financial solutions supporting the sales of the manufacturing business units. In 2006, AB Volvo acquired from Nissan Motor Co Ltd, 13% stake in Japanese truck maker Nissan Diesel, and became a major shareholder. In 2007, the Volvo Group made with full ownership of Nissan Diesel to expand its expansion in the Asia Pacific market.
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