Volvo means "I roll" in Latin, conjugated from "volvere" (cp the ball bearing producer SKF). The name Volvo was originally registered in May 1911 as a separate company within SKF AB and as a registered trademark with the intention to be used for a special series of ball bearing, but this idea was only used for a short period of time and SKF decided to use "SKF" as the trademark for all its bearing products.
In 1924, Assar Gabrielsson, a SKF Sales Manager, and Engineer Gustav Larson, the two founders, decided to start construction of a Swedish car. Their vision was to build cars that can withstand the rigors of Sweden's rough roads and cold temperatures. This has become a feature of Volvo products ever since.[3]
The company AB Volvo had no activities until 10 August 1926, after one year of preparations involving the production of ten prototypes, was set up to carry out the car-manufacturing business within the SKF group. AB Volvo was introduced at the Stockholm stock exchange in 1935 and SKF then decided to sell its shares in the company. Volvo was delisted from NASDAQ in June 2007, but remains listed on the Stockholm exchange.
The first series produced Volvo automobile, the Volvo ÖV 4, left the factory on 14 April 1928 which became the official date for the founding of Volvo.
In 1999, Volvo sold its car division Volvo Cars to Ford for $6.45 billion. The Volvo trademark is now shared between Volvo AB, where it is used on heavy vehicles and the unit of Ford, where it is used on cars. Ford decided to put Volvo Cars on the market in 2008. In 2009, Ford Motor Company announced that a sale to Chinese motor manufacturer Geely is likely to be completed in 2010.
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