Now, here’s where things get interesting. Volvo Trucks remained a Swedish brand until the 1990s when Volvo Cars (yes, the cars and trucks were once part of the same company) caught the eye of the American car giant Ford.
Ford bought Volvo Cars in 1999, leaving Volvo Trucks under the ownership of AB Volvo. So, for a while, Ford owned Volvo Cars, but Volvo Trucks remained Swedish.
Fast forward to 2010, and Ford sold Volvo Cars to Zhejiang Geely Holding Group, a Chinese multinational.
However, Volvo Trucks didn’t follow that same path. It continued to thrive as a separate entity under the Volvo Group, which still maintains its Swedish headquarters.
So, while Geely owns Volvo Cars, Volvo Trucks is still Swedish, standing strong and independent.