History of Volvo Group

The Volvo Group, a multinational manufacturing company headquartered in Gothenburg, Sweden, has a rich history dating back to 1927 when it was founded as a subsidiary of SKF, a ball bearing manufacturer. Originally named Svenska Kullagerfabriken AB, Volvo initially focused on producing ball bearings for the burgeoning automotive industry. However, in 1928, Volvo launched its first vehicle, the Volvo ÖV 4, often referred to as 'Jakob.' This marked Volvo's entry into the automotive sector.

Throughout the following decades, Volvo expanded its product range, becoming renowned for its commitment to safety, durability, and environmental sustainability. Notably, Volvo introduced numerous safety innovations, including the three-point safety belt, which was patented in 1959 and made available to other automakers for free, emphasizing Volvo's dedication to safety beyond its own vehicles. In the late 20th century, Volvo Group diversified its operations, venturing into commercial vehicles, construction equipment, and marine and industrial engines. This expansion led to the formation of separate business units, including Volvo Trucks, Volvo Construction Equipment, Volvo Penta, and Volvo Financial Services, among others.

In the 21st century, the Volvo Group continued its focus on innovation and sustainability, pioneering advancements in electric and autonomous vehicles. With a global presence and a commitment to its core values of quality, safety, and environmental responsibility, the Volvo Group remains a leading force in the automotive and transportation industries, shaping the future of mobility through its cutting-edge technologies and forward-thinking initiatives.