Comment by echelon
12 hours ago
You wouldn't say Thinkpad is a US laptop anymore.
Milwaukee tools? Chinese.
You wouldn't say that many of the skyscrapers in China designed by international artists and architects weren't Chinese.
It doesn't matter who is designing the Chinese cars. They're Chinese owned and operated. That's where the buck stops.
What's to stop the Swedish portion from being downsized in the future? That call would be made in China.
The majority of the employees, in particular top management, is Swedish.
2/9 on the board are Chinese (same as Swedes). The rest are westerners.
Volvo produces more cars in Sweden than Apple produces iPhones etc in the US.
But you are correct that ownership of the company is majority Chinese (Li Shufu/Geely specifically) and they can control a lot.
Apple's ownership is more muddy, since the largest owners are big institutional (US) owners - mostly representing owners from who knows where through big funds (including index funds). I think it's fair to say that Apple is owned very globally. In that sense it's not US controlled, but globally controlled.
I think Volvo is still very Swedish, including its products, but also heavily Chinese influenced (and trending up) due to market challenges.
There's probably still some value in associating a large multi national company to a specific country and attributing it certain things due to that, but with these big companies it's becoming less so and definitely more complex. But saying that Volvo is fully Chinese and not Swedish anymore? That seems like fooling oneself.