[pixxel]

Looked up to see who owns Volvo, just out of interest. Ford purchased in 1999 and sold to a Chinese firm in 2010.

[panpanna]

Note that both development and production still happens in Europe.

I did some digging for my next car and this is what I found: The Chinese owner established newer companies for the Chinese market mostly in China which use their engineering. One of them is a pure EV company.