Volvo was incorporated as a subsidiary of AB SKF, the Swedish ball bearing manufacturer.
Assar Gabrielsson and Gustaf Larson, the two founders, decided to start construction of a Swedish car. The original production models were designed to withstand the rigors of Sweden's rough roads and cold temperatures.
A trial series of 10 cars was built.
Production of cars started at Lundby factory in Göteborg, Sweden on April 14th. A total of 297 cars was produced that year.
The first Volvo truck, a 1½ ton bonneted model LV40, was introduced.
A 2 ton truck powered by a new 6-cylinder engine, the LV60, appeared.
The engine manufacturer Pentaverken, located in Skövde, was taken over. Until then the company had delivered engines for Volvo´s truck and car program.
The first bus chassis was produced.
AB Volvo was introduced on the Stockholm Stock Exchange. Pentaverken was renamed AB Volvo-Pentaverken.
Acquisition of majority holding in Svenska Flygmotor AB, now Volvo Aero Corporation, took place.
Köpings Mekaniska Verkstads AB, a gearbox manufacturer, was bought.
Gösta Nyström´s Karosserifabrik in Umea was acquired and became Volvo´s cab plant.
A car assembly plant was opened in Ghent, Belgium.
Volvo Trucks Division became a autonomous operation.
Volvo became part of the Euro Truck Development Group, known as the Club of Four, in association with Magirus-Deutz, DAF and Saviem.
A Scottish plant, responsible for development manufacture of Volvo´s first eightwheelers, was set up.
A new truck plant in Tuve, Göteborg and a new bus plant in Borås was opened.
AB Volvo acquires Beijerinvest AB, with interests in oil trading, food industry etc. Purchase of White which became Volvo-White Truck Corporation.
GM´s heavy truck division was taken over.
Acquisition of Leyland Bus Group Ltd.
A new truck assembly plant was opened in Orrville, Ohio.
An alliance agreement based on a cross-ownership structure was signed with Renault. Sale of Volvo's food sector and holding in Pharmacia in exchange for part ownership in Procordia AB.
An agreement with Mitsubishi regarding development and production of medium-class cars at NedCar was signed.
Decision of the Volvo Board to withdraw the proposal for a merger of Volvo's automotive operations and Renault was taken.
Dissolution of the alliance with Renault. Divestment of shares in non-automotive companies. Remaining holdings brought together within the Fortos Group.The first Volvo bus in China was produced by Xian Silver Bus.
AB Volvo acquired the remaining 50% of the outstanding shares in Volvo Construction Equipment (formerly the VME Group).In June Volvo acquired 51% of the Canadian bus manufacturer Prévost Car Inc. Volvo Buses' B12-600 was designated "Coach of the Year 1996".
The Volvo VN truck, based directly on the successful Volvo FH series, was introduced in North America in the autumn.
Agreement was reached at year-end to acquire Nova BUS. Carrus Oy, the largest producer of bus bodies in the Nordic region, was acquired at year-end. Construction Equipment acquired the Canadian company Champion Road machinery. Marine and Industrial Engines in new co-operation agreement with Mitsubishi Heavy Industries.
Trucks' most important product introduction during the year was Volvo FM - a new series of heavy trucks, developed for more efficient regional transports and construction work. With the introduction of the Volvo 5000 and Volvo 7000 city buses, the share of complete buses including chassis and bodies from Volvo's own plants increases.
In January Volvo acquired 13% of Scania's shares. In April Volvo increased its holding in Scania to 20%. In July Volvo Trucks acquired an interest in the North American Petro Stopping Centers service chain. In August Volvo made a bid to acquire all outstanding Scania shares. In September Volvo decided to participate in the financing of Henly's acquisition of Bluebird, an American bus company.
In June an agreement on new bus company in China between Volvo Buses and Shanghai Automotive Industry Corporation (SAIC) is signed. In July Volvo acquires an interest in Mitsubishi Fuso Truck and Bus Company.
In January Volvo acquired Renault VI and Mack Trucks and Volvo Global Trucks was formed.Global Trucks. A complete renewal of the product program was carried out during 2001. In the spring, Mack launched the new Granite, a versatile truck for construction applications. Renault introduced the new Magnum and Midlum trucks. In the autumn, Volvo launched its totally new Volvo FH and Volvo FM with a new 500-hp engine.
The intercity and coach platform - TX - was rolled out to all European markets. The competitive products were well received by the customers. Volvo Buses was awarded the "Bus builder of the year 2002" for its complete range of products.
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