Almost 80 years old, it now makes a grand comeback as an updated logotype – the Volvo iron symbol. From a less prominent position in the grille of all Volvo vehicles for many years, the logo has now been brought back into the centre. Literally.
Today, 28 March, Zhejiang Geely Holding Group Co. Ltd and Ford Motor Company have signed a stock purchase agreement regarding the ownership of Volvo Car Corporation. The deal is anticipated to be completed in the third quarter of 2010.
On December 13th Volvo Car Corporation, through Volvo Cars NV, and ING Belgium officially signed a loan agreement of 198 million euro to secure car projects in Volvo Car Corporation's manufacturing plant in Ghent, Belgium.
• New owner: Zhejiang Geely Group Holding Co. Ltd • All-new Volvo S60 and V60 unveiled • Global sales totalled 373,525 cars, an increase of 11.6 percent over 2009 • Stefan Jacoby appointed President and CEO • New board of directors named • New five-cylinder two-litre diesel engine
The full year result for 2010 shows an operating EBIT (earnings before interest and taxes) of 2,340 million SEK, an improvement of 7,525 million SEK compared to prior year."I am very pleased to see that all of the dedication and efforts within the company is generating bottom line results. During 2010, we witnessed a turn-around in the car market and we have now returned to profitability", says St...
Volvo Car Corporation anticipates a continued strong demand thanks to successful models, such as the Volvo XC60, V60 and S60. Based on this the company has decided to increase its production capacity. Consequently, Volvo Car Corporation needs to recruit an additional 600 employees to the Swedish plants in Gothenburg, Olofström, Skövde and Floby, and also to the Ghent plant in Belgium.
Volvo Car Corporation will open a new development office specialising in HMI (Human Machine Interface) in Copenhagen. HMI, which in simple terms means making technology more user-friendly, is a highly prioritised development area for the company and the right kind of expertise is to be found in Copenhagen.