AB Volvo is a Swedish a manufacturer of trucks, buses and construction equipment, and a former manufacturer of cars. Volvo also supplies marine and industrial drive systems, and financial services. It was founded in 1927 with the launch of the first car, the Volvo ÖV 4 in Hisingen, Gothenburg.
Volvo means "I roll" in Latin. The name is reminiscence of the SKF ball bearing Swedish manufacturer who owned Volvo from 1915 to 1927.
The Volvo Cars Division was sold in 1999 to Ford Motor Company for $6.45 billion. Later, when it became unprofitable in 2005, it was put on sale and acquired in 2010 by Chinese motor manufacturer Geely Automobile for $1.8 billion.