Volvo
Cars are owned by Geely, a Chinese company. The Volvo
Group (which shares branding and names with Volvo Cars) is public, but Geely also has a fairly substantial percentage. Volvo Group makes HGVs, buses, military vehicles amongst others.
The situation is not dissimilar to Rolls-Royce plc (publicly-owned, mostly British; makes jet engines and other high-performance turbines) versus Rolls-Royce Motor Cars (owned entirely by BMW; makes cars only, and use BMW engines).
