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Volvo belongs to Zhejiang Geely Holding Group Co., Ltd. through Volvo Car AB → Geely Sweden Holdings AB. Volvo is owned by Zhejiang Geely Holding Group Co., Ltd., headquartered in China. No. The ultimate owner of Volvo, Zhejiang Geely Holding Group Co., Ltd., is headquartered in China, not in the United States.
Geely Holding Group is a prominent Chinese automotive manufacturer known for its diverse portfolio of automobile brands and significant investments in international automotive ventures.
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Sources: en.wikipedia.org, volvocars.com
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