Automotive industry in Sweden Saab Automobile, taking full control over its subsidiary. After the failed takeover Volvo sold their shares in Scania to Volkswagen Group in the early 2000s. Volkswagen has since then increased their interest in Scania and since 2008 Volkswagen Group is the majority owner. The first Koenigsegg supercar left the factory in 2002. The price of the car keeps production on a low level but in 2013 the company delivered their 100th vehicle. The automotive industry crisis of 2008–10 has had a great impact on the formerly Swedish owned automobile makers. In 2009 Ford sold Volvo Cars to Chinese Zhejiang Geely
Geely () (, ), a subsidiary of Geely, is listed on the Hong Kong Stock Exchange. On 13 February 2017, it became a constituent of the Hang Seng Index. Geely () means "auspicious" or "lucky" in Mandarin Chinese. Founding Geely in 1986 as a refrigerator maker with money borrowed from family, Li Shufu transformed the company into a success selling inexpensive products to Chinese consumers. After the purchase of a failing, state-run firm, Geely manufactured motorcycles in the mid-1990s. Small van production began in 1998, and a year later, it received state approval to manufacture automobiles. Car production began in 2002.