When Geely acquired Volvo from Ford, many wondered what would become of the iconic brand. Instead of abandoning Volvo’s heritage, Geely kept design, engineering, and management anchored in Sweden while bringing in major financial backing, a global strategic vision, and access to China’s enormous market. With Geely’s investment, Volvo launched new models, accelerated its push toward electrification, and expanded manufacturing into the USA and China. Technology sharing with other Geely-owned brands has made Volvo even more competitive, showing how cross-continental ownership shapes the modern car landscape.
It’s important to point out a distinction: Volvo Cars (which makes your familiar road cars) is under Geely ownership, while Volvo Group (which produces trucks and heavy vehicles) is still an independent, Swedish-run company, though Geely does hold a significant stake.
Volvo is far from the only historic brand now flying a Chinese corporate flag. Here are some other popular car makers with Chinese ownership you might not know about:
MG (Morris Garages): Once a classic British sports car marque, MG is now owned by SAIC Motor Corporation of Shanghai. Thanks to SAIC, MG is now a global player in affordable, tech-laden electric and hybrid cars.
Lotus: In 2017, Geely acquired a controlling stake in Lotus, the legendary British sports car maker. Investment and a renewed model lineup have followed, along with plans for global expansion.
Polestar: Polestar began as Volvo’s racing and tuning division. Now, it’s a standalone premium electric brand, jointly owned by Geely and Volvo.
LDV/Maxus: Known for light commercial vehicles, this brand is under the SAIC umbrella.
London Electric Vehicle Company (LEVC): The iconic London black taxi has been reinvented by Geely, which has owned the company since 2013, pushing it into the era of electrified urban mobility.
Smart: The compact city car brand has been reborn thanks to a joint venture between Geely and Mercedes-Benz, focusing entirely on electric vehicles.
Borgward: This historic German nameplate was revived by Chinese manufacturer Foton (part of BAIC Group), although production recently stopped.
Meanwhile, Chinese carmakers are pushing their own brands—BYD, NIO, XPeng, Great Wall, and others—into global markets, from Europe to Australia and beyond.
Why is this wave of Chinese ownership happening? For Chinese automakers, buying legacy brands brings access to global markets, advanced technology, and international prestige. For established but struggling car brands, Chinese investment provides long-term stability, funding for innovation, and new horizons. It’s a formula that’s changing the face of the car industry.
Next time you see a Volvo cruising past, an MG in the supermarket car park, or the latest high-tech Smart city car, remember: their classic looks and badges might come from Europe, but their future is being shaped in China.
