Re:Volvo and Daimler bet on hydrogen truck boom this decade
by laurencerowe on Wednesday May 12, 2021 @01:37PM
(#27132982)
Volvo sold off their car subsidiary to Ford in 1999 and that was later bought by Geely. Volvo Trucks is still owned by the Swedish Volvo Group.
Re:Volvo and Daimler bet on hydrogen truck boom this decade
by mywittyname on Thursday May 13, 2021 @04:35PM
(#27147082)
AB Volvo is owned by Geely. Volvo Trucks is wholly owned subsidiary of AB Volvo.
Volvo Cars is owned directly by Geely, but is not a subsidiary of AB Volvo. Which is probably where your confusion is coming from.
Re:Volvo and Daimler bet on hydrogen truck boom this decade
by laurencerowe on Thursday May 13, 2021 @06:03PM
(#27148056)
> AB Volvo is owned by Geely. Volvo Trucks is wholly owned subsidiary of AB Volvo.
According to https://en.wikipedia.org/wiki/Volvo they remain an independent company with Geely as their second largest shareholder at 8.2%.
More complete breakdown here: https://www.volvogroup.com/en/investors/the-volvo-share/owne...
Re:Volvo and Daimler bet on hydrogen truck boom this decade
by kingsuper20 on Wednesday May 12, 2021 @06:14PM
(#27135792)
You're probably thinking of the car company.
Re:Volvo and Daimler bet on hydrogen truck boom this decade
by mywittyname on Thursday May 13, 2021 @04:38PM
(#27147120)
Geely owns Volvo Cars, yes. Geely also owns the related, but legally distinct AB Volvo, which owns a Volvo Trucks, Mack Trucks, Volvo Construction, etc.
They are independent companies, but they share an owner.
Volvo is a Chinese-owned company. While the company is headquartered and led in Sweden, it is safe to assume that the Chinese market is a strong consideration in everything they do.