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Volvo Cars (Swedish: Volvo personvagnar), stylized as VOLVO, is a Swedish luxury vehicles company. It is headquartered on Torslanda in Gothenburg and is a subsidiary of the Chinese automotive company Geely. The company manufactures and markets sport utility vehicles, station wagons, sedans and compact executive sedans. The Volvo Group was founded in 1927 as a subsidiary of the ball bearing manufacturer SKF. When AB Volvo was introduced on the Stockholm stock exchange in 1935, SKF sold most of the shares in the company.
The heavy truck and construction equipment conglomerate AB Volvo and Volvo Cars have been independent since AB Volvo sold Volvo Cars to the Ford Motor Company in 1999. Volvo Cars has been majority owned since 2010 by the Geely Holding Group. Both AB Volvo and Volvo Cars share the Volvo logo and cooperate in running the Volvo Museum. With approximately 2,300 local dealers from around 100 national sales companies worldwide, Volvo Cars' largest markets are China, the United States, Sweden, and the other countries in the European Union. Most of its worldwide employees are based in Sweden.
In July 2017, Volvo announced that new models launched from 2019 will be fully electric or hybrid-electric, heralding the end of production of nearly a century of Volvo vehicles powered solely by the internal combustion engine. Volvo paid $17.4 million in fines for missing its Corporate Average Fuel Economy targets over the 2010-14 model years.