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| Torslanda Volvo factory, Gothenburg, Sweden |
The
Swedish brand Volvo, with headquarters in Gothenburg, is one of the world's
leading automotive manufacturers in terms of driving safety.
In 1998,
Volvo Cars became independent from the Volvo Corporation, which
continues to manufacture trucks and buses and was acquired by the Ford Group.
Beginnings of the factory
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| Assar Gabrielsson and Gustaf Larson |
On the
25th July 1924, engineer Gustaf Larson and
economist Assar
Gabrielsson meet at a Stockholm restaurant, the Sturehof. After several
hours of discussion, they decide to build a
Swedish car.
Volvo was
established as a subsidiary of the Swedish bearings manufacturer SKF. It
ceded one of its trademarks to give the name Volvo, which in Latin means "I
roll", a slogan to prove the principal virtue of these bearings.
Its
Initial Public Offering was in 1935 in Sweden, and SKF sold most of the shares
of the company.
The first
car design is completed in 1925. The first car came out of the factory on the
14th April 1927 and it was launched commercially in 1928. It was called "Jakob".
Its success was so great that in six months the production planned for
the model had been accomplished.