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Volvo was founded in 1927 in Gothenburg, Sweden, as a subsidiary of SKF, the bearing manufacturer. The name Volvo is Latin for "I roll." The first car, the Volvo ÖV4, nicknamed Jakob, was an open-topped tourer that sold in limited numbers.
Assar Gabrielsson and Gustaf Larson, the founders, stated from the beginning that safety would be a core principle. This commitment produced the first three-point safety belt, invented by Volvo engineer Nils Bohlin in 1959, which Volvo famously did not patent, making the design available to all manufacturers.
Volvo grew steadily through the post-war period, with the Amazon (1956) and 140 Series (1966) establishing the brand reputation for durable, safe, practical cars. The 240 Series, produced from 1974 to 1993, became the definitive Volvo, known for its boxy design and tank-like durability.
Volvo was owned by the Volvo Group (trucks, buses, construction equipment) until 1999, when the car division was sold to Ford. Ford owned Volvo Cars until 2010, when it was acquired by Geely Holding Group of China. Under Geely ownership, Volvo has undergone a renaissance with a completely redesigned lineup, a commitment to electrification, and a new design language that has moved away from the boxy aesthetic while retaining Swedish minimalism and safety focus.
The three-point safety belt was invented by Volvo engineer Nils Bohlin in 1959 and introduced on the Volvo Amazon and PV544. Volvo waived patent rights so the design could be used by all manufacturers, a decision that has saved an estimated one million lives.
Volvo introduced the first rear-facing child safety seat in 1964, integrated child booster cushions in the 1990s, and the first inflatable child seat concept in the 2010s.
The Volvo 850 (1991) was the first front-wheel-drive Volvo with a transverse five-cylinder engine, and it introduced the Side Impact Protection System (SIPS) with side airbags, another safety first.
Volvo City Safety, introduced in 2008 on the XC60, was the first production system to automatically brake the car at low speeds to prevent or mitigate rear-end collisions.
Volvo pledged in 2021 to become a fully electric car company by 2030, a timeline that was revised in September 2024 to target a 90 to 100 percent electrified mix by 2030 rather than a strict all-EV cutoff, reflecting changing market conditions.
The Volvo ÖV4, nicknamed Jakob, rolled off the production line in Gothenburg, Sweden.
Nils Bohlin invented the modern three-point safety belt. Volvo made the patent available to all manufacturers, saving countless lives.
The front-wheel-drive 850 introduced SIPS side impact protection and a transverse five-cylinder engine, signaling a new direction for Volvo.
Ford Motor Company purchased Volvo Cars from the Volvo Group for $6.45 billion.
Zhejiang Geely Holding Group acquired Volvo Cars from Ford, providing capital and autonomy that enabled a complete model range overhaul and global expansion.
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