Volvo is a famous Swedish luxury car brand, which was founded in Gothenburg, Sweden in 1927. In 1999, the Volvo Group sold its Volvo car business to Ford Motor Corporation. In 2010, the Chinese auto company Zhejiang Geely Holdings Group purchased the Volvo car business from Ford and obtained the ownership of the Volvo car brand. At the 2017 Guangzhou International Auto Show, Volvo officially released its new XC60 domestic models. The entire department will launch three power configurations of T4, T5 and T8, with a total of 8 models. On December 20, 2017, Volvo's new XC60 was officially launched in Chengdu.