Volvo Cars (Swedish: Volvo personvagnar, styled VOLVO in the company's logo) is a Swedish multinational manufacturer of luxury vehicles. Volvo is headquartered in Torslanda, Gothenburg. The company manufactures SUVs, station wagons, and sedans. The company's main marketing arguments are safety and its Swedish heritage and design.
Volvo Cars has been separate from its former parent conglomerate and producer of heavy trucks, buses, and construction equipment (among others) AB Volvo since 1999 when AB Volvo sold its automobile division Volvo Cars to Ford Motor Company. On 28 March 2010, Ford sold Volvo Cars at a loss to Geely for $1.8 billion; the deal closed in August 2010. Volvo Cars was publicly listed on the Nasdaq Stockholm stock exchange in 2021, though Geely still retains majority ownership. Volvo Cars and AB Volvo share the Volvo logo, and cooperate in running the Volvo Museum.
In March 2021, Volvo Cars announced that it would be a fully electric brand by 2030. In June 2021, Volvo Cars and Swedish battery developer and manufacturer Northvolt announced the intention to establish a 50/50 joint venture consisting of a battery gigafactory and R&D (research and development) center. In December 2021, it was revealed the battery R&D center would be located in Gothenburg. In February 2022, Gothenburg was also chosen as the location for the battery gigafactory.
During 2021 and 2022, Volvo Cars transferred its hybrid engine research and production capabilities in Skövde and Zhangjiakou to Aurobay, in a joint venture with Geely.Volvo Cars owns 48.3% of Polestar and 30% of Lynk & Co, in addition to 50% of NOVO Energy (electric vehicle batteries), 100% of Zenseact (AD and ADAS software), and 60% of HaleyTek (Android-based infotainment systems).