Volvo is a automobile maker that was founded in 1927 in the city of Gothenburg in Sweden, as a spin-off from roller ball bearing maker SKF.
Since the 1960s Volvo cars have had a reputation for safety[?] in crashes, rather than speed or handling ability. The Volvo design team patented the 3-point seatbelt but soon after released it to the public. However by the mid-1990s there was little to distinguish most manufacturers on safety when put through tests such as NCAP[?]. In the early 1970s Volvo acquired the car-making division of the Dutch company DAF, and marketed their small cars as Volvos before releasing the Dutch-built 340 series. Smaller Volvos are still built in the Netherlands.
On January 28, 1998 Ford Motor Company announced the buyout of Volvo for $6.45 billion and in 1999, the automobile manufactuing of Volvo was acquired by Ford.
Volvo now consists of two parts:
Both use and jointly owns (50/50), the Volvo trademark. One of the main promotional activities for the trademark is the sailing contest Volvo Ocean Race, formerly the Whitbread Around the World Cup[?].
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