Volvo Cars has manufacturing bases in the US, Europe and China, with the majority of its sales in Europe. Its 2021 revenues were $27 billion. It aims to be climate neutral by 2040 and to have 50% of sales from electric cars by 2025 and 100% by 2030. Volvo Cars is owned by Geely Holding. Volvo Cars owns 49.5% of Polestar, 30% of Lynk&Co. Together with ECARX, it owns HaleyTek and together with Northvolt it owns NOVO Energy. Its headquarters are based in Gothenburg, Sweden. It also has main offices in New Jersey, USA and Shanghai, China.