Volvo Cars is a Swedish company under Chinese ownership. It was founded in Gothenburg in 1927 and is still headquartered and engineered there, but 78.65% of it is held by Geely Sweden Holdings AB, which belongs to Zhejiang Geely Holding Group of Hangzhou.

Zhejiang Geely Holding Group, a private Chinese company controlled by Li Shufu, holds 78.65% of Volvo Car AB. The rest is publicly traded on Nasdaq Stockholm. Volvo trucks are a different company, AB Volvo, which Geely does not control.

When did Geely buy Volvo?

Geely Holding signed the agreement with Ford on 28 March 2010 and completed the purchase on 2 August 2010. The price for Volvo and the related assets was US$1.8 billion, including a US$200 million note.

Are Volvos still made in Sweden?

Yes, and in several other countries. Volvo Cars builds in Sweden and Belgium, in China, and at Ridgeville in South Carolina, so where a particular Volvo is made depends on the model and the market.

沃尔沃Volvo Cars

Who owns Volvo Cars? The ownership chain, Geely Holding's stake and the 2010 deal

Facts checked 4 September 2026Chinese holding 78.65%

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.

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.

The short answer

Controlled by	Geely Holding
Stake	78.65%
Since	2 August 2010
Kind	brand
Recorded holdings	1
Origin	SE
Name in Chinese	沃尔沃 Wò'ěrwò “WOR-er-WOR”
Top of the chain	Li Shufu
Is it Chinese?	Yes

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 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.

Every holding above this entity, with the stake and the date it began.
Holder	Holds	Kind	Stake	Since
Li Shufu	Geely Holding	owns	82.23%	1986
Geely Holding	Volvo Cars	owns	78.65%	2 August 2010

What Volvo Cars holds

Every current holding recorded from Volvo Cars 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.

Holdings recorded from Volvo Cars.
Holding	What it is	Share	Since	What the source says
Polestar	holds a stake in	19.9%	2017	Volvo Cars holds its Polestar shares through Snita Holding B.V.: 28,827,431 Class A ADSs, about 19.9%, at 31 December 2025. Volvo Cars had held about 48% until it distributed 62.7% of its Polestar shareholding to its own shareholders in 2024. On 30 June 2026 about US$66 million owed to Snita converted into a further 3,864,300 Class A ADSs.

Former holdings

Holdings that ended, kept out of the tables above so nothing current reads as past or the reverse.

Holdings Volvo Cars no longer has.
Holding	What it is	Share	Since	What the source says
Lynk & Co	formerly held	30%	2016	Volvo Cars held 30% of Lynk & Co from its founding until Volvo Cars (China) Investment Co. transferred the stake to Zhejiang Zeekr under the November 2024 agreement, which completed in February 2025. Volvo Cars' 2025 accounts record proceeds from the divestment of the Lynk & Co shares.

Volvo Cars: questions people ask

Is Volvo Chinese?: Volvo Cars is a Swedish company under Chinese ownership. It was founded in Gothenburg in 1927 and is still headquartered and engineered there, but 78.65% of it is held by Geely Sweden Holdings AB, which belongs to Zhejiang Geely Holding Group of Hangzhou.
Who owns Volvo?: Zhejiang Geely Holding Group, a private Chinese company controlled by Li Shufu, holds 78.65% of Volvo Car AB. The rest is publicly traded on Nasdaq Stockholm. Volvo trucks are a different company, AB Volvo, which Geely does not control.
When did Geely buy Volvo?: Geely Holding signed the agreement with Ford on 28 March 2010 and completed the purchase on 2 August 2010. The price for Volvo and the related assets was US$1.8 billion, including a US$200 million note.
Are Volvos still made in Sweden?: Yes, and in several other countries. Volvo Cars builds in Sweden and Belgium, in China, and at Ridgeville in South Carolina, so where a particular Volvo is made depends on the model and the market.

Sources for Volvo Cars

Volvo Car AB, Volvo Car Group Interim Report Fourth Quarter and Full Year 2025. Read 4 September 2026.
Ford Motor Company (U.S. Securities and Exchange Commission), Ford Motor Company, Form 10-K for the year ended 31 December 1999, Note 16, and Form 10-K for the year ended 31 December 2010, Note 24. Read 4 September 2026. The 2010 filing gives the sale to Geely; the 1999 filing at https://www.sec.gov/Archives/edgar/data/37996/0000037996-00-000019.txt gives the US$6.45 billion purchase from AB Volvo.
Polestar (U.S. Securities and Exchange Commission), Polestar Automotive Holding UK PLC, Form 20-F for the year ended 31 December 2025. Read 4 September 2026. Confirms Geely owns about 78.7% of Volvo Cars and that the Polestar 3 is built in the United States.
Volvo Car AB, volvocars.com robots.txt, market sitemap index. Read 4 September 2026. Source of the market list: the national Volvo Cars sites the company publishes.
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.
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 4 September 2026. 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 4 September 2026.
Ford Motor Company (U.S. Securities and Exchange Commission), Ford Motor Company, Form 10-K for the year ended 31 December 2010, Note 24. Read 4 September 2026. Completion of the sale on 2 August 2010.