🇸🇪 Volvo Cars EU
Swedish automotive manufacturer headquartered in Gothenburg. Owned by Geely (China) since 2010 but R&D, design and HQ remain in Sweden.
Owned from
🇨🇳China non-EU
Geely Holding (China) — controlling shareholder (~78%)
Ownership
Volvo Cars was acquired from Ford by Zhejiang Geely Holding Group (China) in 2010 for $1.8 billion. The company IPO'd on Nasdaq Stockholm in October 2021, but Geely retains roughly 78% of shares — making the company Chinese-controlled. Headquarters, design (Gothenburg) and R&D (Torslanda, Lund) all remain in Sweden, and most European-market vehicles are still produced there.