Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales of 661,713 cars in 2020 in about 100 countries. Volvo Cars have been under the ownership of the Zhejiang Geely Holding since 2010.
As of December 2020, Volvo Cars employed approximately 40,000 (41,500) full-time employees. Volvo Cars head office, product development, marketing, and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars head office for APAC is located in Shanghai. The company’s main car production plants are located in Gothenburg (Sweden), Ghent (Belgium), South Carolina (US), Chengdu, and Daqing (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China) and body components in Olofström (Sweden).
Under its new company purpose, Volvo Cars aim to provide customers with the Freedom to Move in a personal, sustainable, and safe way. This purpose is reflected in a number of business ambitions: for example, by the middle of this decade, it aims for half of its global sales to be fully electric cars, to sell half of its global volume online, and to establish five million direct consumer relationships. Volvo Cars are also committed to an ongoing reduction of its carbon footprint, with the ambition to be a climate-neutral company by 2040.