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Volvo

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Volvo

Swedish motor vehicle manufacturer founded 1925 by Gustaf Larson and Assar Gabrielsson; in the mid-1970s Volvo acquired the Dutch DAF concern. Volvo's car division was bought by the Ford Motor Company in January 1999.

The Ford Motor Company announced on 28 January 1999 that it is buying Volvo's car division for $6.45 billion. Ford can also use the name for light trucks, while the Volvo company keeps it for heavy-duty trucks. Worldwide, at the time of the buyout, it gave Ford 13.7% of car sales.
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