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Since 2010, Volvo Car Corporation has been wholly owned by Zhejiang Geely Holding Group, The Hong Kong-based Geely Holding Group acquired Volvo from Ford Motor Company in mid-2010
The Volvo Car Corporation (VCC) was founded in Gothenburg, Sweden, by Gustaf Larson and Assar Gabrielsson, the first car left the factory on 14 April, 1927
Volvo Cars sales and service network covers about 120 countries, comprising some 2,400 sales outlets and service workshops around the world, including about 1,500 in Europe and 400 in North America.
Much of the network is composed of independent companies working with Volvo Car Corporation (VCC) as a business partner. Volvo Cars' four largest markets are the USA, Sweden, the UK and Germany.
Volvo Car Corporation is not affiliated with AB Volvo (Volvo Trucks) that manufacturers of trucks, buses, construction equipment and
marine drive systems. the two different companies shared ownership of the Volvo brand name and logos.
Volvo Cars of North America Inc
1 Premier Place. Irvine, CA 92618
Phone: 949-341-6500
www.volvocars.us
Volvo Cars of North America is the sales, distribution, and marketing arm of Ford Motor's Volvo brand in the US and Canada. Volvo's models include the S-Range, the V-Range, the C-Range, and XC-Range.
The company also offers financing through Volvo Finance. Ford Motor purchased the Volvo automotive brand from Swedish truckmaker AB Volvo in 1999.
Volvo Finance North America, Inc
25 Philips Pkwy. Montvale, NJ 07645
Phone: 201-358-6600 Fax: 201-307-6410
www.volvofinance.com
The finance arm of Volvo Cars North America, (both of which are subsidiaries of Ford Motor Co.) also provides retailers with capital, inventory, and real estate financing Company
Geely Holding acquired Volvo - 28 March, 2010
Zhejiang Geely Holding Group announced it has signed a purchase agreement with Ford Motor Company to acquire
100 per cent of Volvo Car Corporation and related assets (primarily intellectual property).
The agreement was signed by Li Shufu, Chairman of Zhejiang Geely Holding Group, and Lewis Booth, Chief Financial Officer of Ford Motor Company, at a ceremony in Gothenburg witnessed by Li
Yizhong, Minister of Industry and Information Technology of the People's Republic of China and Maud Olofsson, Swedish Deputy Prime Minister and Minister for Enterprise and Energy.
Zhejiang Geely Holding Group has secured all necessary financing to complete the transaction, which values Volvo Car Corporation at USD 1.8 billion.
Geely intends to preserve Volvo Cars' existing manufacturing facilities in Sweden and Belgium, while exploring opportunities to manufacture Volvo vehicles in new production facilities to be
built in China for the local market.
Zhejiang Geely Holding Group Co., Ltd.
1760 Jiangling Road. Binjiang District,
Hangzhou, Zhejiang Province, People's Republic of China
General Information: +86 (571) 2800 1111
www.geely.com
Zhejiang Geely Holding Group Co. Ltd. was founded in 1986 with its headquarters in Hangzhou, the capital of Zhejiang province. Zhejiang Geely Holding Group and its associated companies have
established operations that span the automotive value chain, from research, development and design to production, sales and servicing.
They are a fully-integrated independent auto manufacturer producing cars, engines and transmissions. They are one of China's fastest growing automotive manufacturers.
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