Who owns AB Volvo? The ownership chain, Geely Holding's stake and the 2017 deal
Facts checked
AB Volvo appears here because the ownership graph records a holding in it by a Chinese entity. The chain below is the whole of what this site claims.
Geely Holding became a large shareholder in AB Volvo, the truck and construction equipment group, in a purchase announced in December 2017. On 18 April 2024 Geely Sweden Industry Investment AB sold its entire holding of class B shares in an accelerated bookbuilding for about US$1.3 billion, and after the placement kept about 88.5 million class A shares, which carry ten votes each, remaining AB Volvo's second-largest shareholder. AB Volvo's own shareholder pages could not be retrieved on 2026-09-04, so no current percentage of capital or votes is recorded.
The short answer
| Controlled by | Geely Holding |
|---|---|
| Stake | not published |
| Since | December 2017 |
| Kind | company |
| Recorded holdings | 1 |
| Origin | SE |
| Top of the chain | Li Shufu |
The chain, step by step
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 holds a stake in AB Volvo since December 2017.
Geely Holding became a large shareholder in AB Volvo, the truck and construction equipment group, in a purchase announced in December 2017. On 18 April 2024 Geely Sweden Industry Investment AB sold its entire holding of class B shares in an accelerated bookbuilding for about US$1.3 billion, and after the placement kept about 88.5 million class A shares, which carry ten votes each, remaining AB Volvo's second-largest shareholder. AB Volvo's own shareholder pages could not be retrieved on 2026-09-04, so no current percentage of capital or votes is recorded.
Former owners
Holdings that have ended. They are here because the story needs them and are never part of the current tree.
Geely Holding formerly held AB Volvo at 8.2% from December 2017 until 18 April 2024.
Geely Holding's original December 2017 purchase gave it about 8.2% of AB Volvo's capital and made it the largest shareholder by capital. On 18 April 2024 it sold its entire holding of 49.5 million Class B shares -- 49.5m shares at SEK 285.90, about US$1.32bn -- through an accelerated bookbuild, keeping 88.5 million A shares.
| Holder | Holds | Kind | Stake | Since |
|---|---|---|---|---|
| Li Shufu | Geely Holding | owns | 82.23% | 1986 |
| Geely Holding | AB Volvo | holds a stake in | not published | December 2017 |
What AB Volvo holds
Every current holding recorded from AB Volvo downward: outright ownership, minority stakes, joint ventures and licences, each with the stake as the source states it and the date it began. A joint venture's percentage is a share of that venture, not of the partner.
| Holding | What it is | Share | Since | What the source says |
|---|---|---|---|---|
| Dongfeng Commercial Vehicle | runs a joint venture with | 45% of the joint venture | January 2015 | AB Volvo agreed in January 2013 to buy 45% of Dongfeng's truck business and completed the purchase in January 2015 for RMB 5.5 billion. This is AB Volvo, the Swedish truck and construction-equipment group, not Volvo Cars, which belongs to Geely Holding. |
Related
Sources for AB Volvo
- Ford Motor Company (U.S. Securities and Exchange Commission), Ford Motor Company, Form 10-K for the year ended 31 December 1999, Note 16. Read . Describes the purchase of AB Volvo's worldwide passenger car business, the transaction that separated Volvo Cars from AB Volvo.
- Freshfields, Freshfields advises Geely on $1.3bn sale of Volvo Truck shares. Read . Adviser's note on the April 2024 sale of Geely's class B shares in AB Volvo; AB Volvo's own shareholder pages could not be retrieved on 2026-09-04.
- Wikipedia, Dongfeng Motor Group. Read . Lists Dongfeng Commercial Vehicle as a 55%-held subsidiary, the balance being AB Volvo's 45%
- AB Volvo, Volvo completes the acquisition of 45% of Dongfeng Commercial Vehicles. Read . AB Volvo newsroom item announcing completion in January 2015; headline, publisher and date confirmed, the release body was not retrieved
- Wikipedia, AB Volvo. Read . Brand list and the 2024 shareholder table (Industrivarden 28.0% of votes, Geely 14.7%).
- Lotus Technology Inc (U.S. Securities and Exchange Commission), Lotus Technology Inc., Form 20-F for the year ended 31 December 2025, Item 6.E Share Ownership, footnote 6. Read . Percentages as disclosed for 28 February 2026.
- Polestar (U.S. Securities and Exchange Commission), Polestar Automotive Holding UK PLC, Form 20-F for the year ended 31 December 2025, Item 7.A. Read .