It has now been 10 years since Zhejiang Geely Holding (Geely for short) took the huge step in the acquisition of Volvo Cars from Ford Motor Company. Since that day Volvo has never looked back.
Now firmly under Geely ownership, Volvo cars has been transformed into a global player in the premium car market.
For the first time in its 92 year history, Volvo cars sold more than 700,000 vehicles in 2019.
Volvo is aiming to be a leader in electrification. It is moving fast towards having half of its global sales made up of fully electric cars – with the rest being hybrids by 2025.
Just in case you didn’t know who Zhejiang Geely Holding Group (Geely) is….they are a Chinese automotive company. They either own or have a stake in some car brands you may already know such as Lotus, Proton, London EV Company, Lynk & Co, Volvo and Geely Auto.
“Volvo Cars today is stronger than it has ever been. With Geely, we started a new successful phase that took us to a whole new level. We completely renewed our product portfolio, established a global presence, almost doubled our sales and went from break-even to profitable. Going forward, we will continue to grow our business together with Geely.”Said Håkan Samuelsson, Chief Executive.
The future for the Swedish brand is looking rather promising.