Li Shufu sits at the top of the recorded chain. The ownership page sets out every step with its stake and date.

沃尔沃Volvo Cars

Is Volvo Cars Chinese? Yes

Facts checked 4 September 2026Ownership as of July 2025

Yes

Volvo Cars is Chinese-owned but Swedish-run. Zhejiang Geely Holding bought it from Ford in a deal agreed on 28 March 2010 and closed on 2 August 2010 for US$1.8bn; Volvo Cars listed on Nasdaq Stockholm in October 2021 and Geely Sweden Holdings still held about 78.65% as of July 2025. Design, engineering and head office remain in Gothenburg, and cars are built in Sweden, Belgium, China, the United States, Malaysia and India -- so a Volvo may or may not be built in China depending on the model.

Chinese holding: 78.65% as of July 2025.

The chain

The ownership chain behind this answer, owner first.
Step	Entity	Kind	Origin
1	Li Shufu	person	CN
2	Geely Holding	group	CN
3	Volvo Cars	brand	SE

Holding by holding

Li Shufu owns Geely Holding at 82.23% since 1986.
Li Shufu founded Geely Holding in 1986 and owns 82.233% of it directly; his son Li Xingxing holds 8.0583% and Ningbo Yima Enterprise Management Partnership 9.7087%, which Polestar's 2025 annual report summarises as Li Shufu owning about 91.9% directly or indirectly.
Geely Holding owns Volvo Cars at 78.65% since 2 August 2010.
Geely Holding completed the purchase of Volvo Cars from Ford on 2 August 2010. Volvo Car AB listed on Nasdaq Stockholm in October 2021; Geely Sweden Holdings AB, owned through Shanghai Geely Zhaoyuan International Investment and ultimately by Zhejiang Geely Holding Group, held 78.65% of the shares and capital at the end of 2025.

Former owners

Holdings that have ended. They are here because the story needs them and are never part of the current tree.

Ford Motor Company formerly held Volvo Cars at 100% from 31 March 1999 until 2 August 2010.
Ford bought AB Volvo's worldwide passenger car business on 31 March 1999 for about US$6.45 billion, made up of about US$2 billion in cash, a deferred payment to AB Volvo of about US$1.6 billion due in 2001 and about US$2.9 billion of Volvo Car net debt. It agreed to sell the business to Zhejiang Geely Holding Group on 28 March 2010 and completed the sale on 2 August 2010; the total price for Volvo and the related assets was US$1.8 billion, of which US$200 million was a note and the rest cash.

Is Volvo Cars Chinese: the short answers

Is Volvo Cars Chinese?: Yes. Volvo Cars is Chinese-owned but Swedish-run. Zhejiang Geely Holding bought it from Ford in a deal agreed on 28 March 2010 and closed on 2 August 2010 for US$1.8bn; Volvo Cars listed on Nasdaq Stockholm in October 2021 and Geely Sweden Holdings still held about 78.65% as of July 2025. Design, engineering and head office remain in Gothenburg, and cars are built in Sweden, Belgium, China, the United States, Malaysia and India -- so a Volvo may or may not be built in China depending on the model.
How much of Volvo Cars is Chinese-owned?: 78.65%, as of July 2025.
Who owns Volvo Cars?: Li Shufu sits at the top of the recorded chain. The ownership page sets out every step with its stake and date.

Sources for this answer

Wikipedia, Volvo Cars. Read 4 September 2026. 2010 purchase date and price, the October 2021 listing, Geely at 78.7%, and the plant list.
Volvo Car AB, Volvo Cars shareholder information. Read 4 September 2026. Geely Sweden Holdings AB at about 78.65% of shares and votes as of July 2025, per the search index summarising Volvo Cars' investor pages; the pages themselves refused an automated fetch.