[Edit: wrong. See below]
The passenger car business, Volvo Cars, was sold to Ford in 1999 and later bought by Geely:
https://en.wikipedia.org/wiki/Volvo_Cars
[Edit: wrong. See below]
The passenger car business, Volvo Cars, was sold to Ford in 1999 and later bought by Geely:
https://en.wikipedia.org/wiki/Volvo_Cars