11 Top Swedish Car Brands [As of 2025]

From the high-performance hypercars of Koenigsegg to the safety-driven engineering of Volvo, Swedish car companies have consistently set benchmarks in various automotive segments. The country is home to several research and development centers, including the Volvo Car Group’s Safety Centre and Scania’s state-of-the-art R&D facilities. 

Sweden’s automotive industry is heavily dependent on exports, as nearly 85% of passenger cars and 95% of heavy vehicles are sold abroad. In 2023, its automotive exports were valued at $15.1 billion, contributing significantly to the nation’s economy. The primary export destinations included the United States, Germany, China, Denmark, and Finland. [1]

That same year, Sweden imported automotive products worth $11.4 billion, with major imports coming from Germany, Belgium, Czechia, South Korea, and the United Kingdom. Interestingly, Cars were both the top exported and imported products in the country.

Sweden’s automotive industry employs more than 63,000 people, including those in manufacturing, supply chain management, and research and development. Below, I’ve listed the top Swedish car brands, highlighting their business statistics, contributions to the automotive world, and future prospects.

Did you know?

In 1959, Volvo engineer Nils Bohlin invented the three-point seatbelt. By making the patent freely available worldwide, this innovation has saved more than a million lives globally.

Swedish Car Brands

6. Caresto

Car companies in Sweden - CarestoCaresto V8 Speedster 

Founded in 2004
Owner: Leif Tufvesson

Caresto produces custom-built vehicles, often commissioned by private clients or showcased at automotive events. It was founded by former Volvo engineer Leif Tufvesson, who won the 2004 Hot Rod of the Year award for his creation of the Volvo T6 Roadster.

Unlike mass-market car manufacturers, Caresto operates on a smaller scale, focusing on quality and exclusivity rather than volume. As a result, annual production output is limited, typically producing a handful of highly specialized vehicles each year. [2]

Their most notable models include the Caresto V8 Speedster (featuring a sleek, modern design combined with classic hot rod aesthetics), Caresto Hot Rod Jakob (inspired by the classic 1927 Volvo Jakob), and Hot Rod Woody (built from lightweight carbon fiber and hemp fiber). 

5. Scania AB

Founded in 1911
Ownership: Traton Group
Production Output: 96,000+ units (2023)
Annual Revenue: $19.3 billion (2023)

Although not exactly a car brand, Scania AB has a long history of innovation and excellence in the automotive industry. The company manufactures trucks, buses, and engines for industrial and marine applications.

Scania’s connected vehicles utilize advanced telematics to provide real-time data on vehicle performance, enabling fleet managers to reduce costs and optimize efficiency. Over 500,000 Scania vehicles are connected across 100 countries.

In 2023, the company sold 96,727 vehicles, generating $19.3 billion in annual revenue and an operating income of $2.47 billion. Scania invests approximately $800 million annually in R&D to develop new technologies for cleaner, safer, and more efficient transport solutions. The company is committed to reducing its carbon footprint by half from its 2015 baseline. [3]

4. Polestar

Founded in 2017
Ownership: Volvo Cars (48.3%), PSD Investment (39%)
Production Output: 150,000+ units (2023)
Annual Revenue: $2.38 billion (2023)

Originally established in 996 as a racing team and performance brand associated with Volvo, Polestar was transformed into an independent car company in 2017. It now focuses on designing and manufacturing high-performance electric vehicles. 

Polestar cars are available online in 27 markets across North America, Europe, and the Asia-Pacific region. Its most popular model, the Polestar 2, competes in the premium EV segment and was the brand’s first volume car to go into production in 2020. Within three years, over 150,000 units had been manufactured, with more than 20,000 Polestar 2 cars on the road in the UK alone.

In the fiscal year 2023, Polestar generated $2.38 billion in revenue, a 3% decline from 2022 due to higher discounts and lower sales of carbon credits. The company reported a net loss of $1.17 billion, compared to a $481.5 million net loss in 2022. The gross loss was $414.7 million, a significant drop from a gross profit of $98.4 million the previous year. [4]

3. Lynk & Co

Founded in 2016
Ownership: Geely Auto (50%),  Volvo Cars (30%) 
Production Output: 220,200+ units  
Annual Revenue: $643.6 million 

Lynk & Co is a Chinese-Swedish car brand formed by the Geely Auto Group in collaboration with Volvo Cars. It targets a younger, urban demographic with its unique approach to car ownership and use. 

The company offers a flexible subscription model, allowing customers to access vehicles on a monthly basis without long-term commitments. With this model, Lynk & Co aims to simplify access to mobility while promoting sharing and reducing environmental impact. 

Their most popular vehicle, the Lynk & Co 01, shares a platform with the Volvo XC40 and offers advanced connectivity options as well as various powertrains, including fully electric and plug-in hybrid versions.

In 2023, the company delivered 220,250 vehicles worldwide, up 22% compared to the previous year. Since its inception, it has delivered over 1 million vehicles. According to Growjo, its estimated annual revenue is $643.6 million. With approximately 1,393 employees, this translates to a revenue per employee of $462,000. [5][6]

2. Koenigsegg

Swedish Car Brands - Koenigsegg GemeraKoenigsegg Gemera

Founded in 1994
Owner: Christian von Koenigsegg
Production Output: 20+ units  
Annual Revenue: $22.2 million  

Koenigsegg is known for producing some of the fastest and most technologically advanced cars in the world. It produces a very limited number of vehicles each year, typically between 20 and 25 units. Each car is handcrafted to the highest standards, contributing to its exclusivity and high price tag.

Koenigsegg Agera RS, for example, features a lightweight carbon fiber construction and a powerful V8 engine producing up to 1,341 horsepower. It was the world’s fastest production car in 2017, reaching a top speed of 285 mph. 

The Koenigsegg Jesko is an ultimate track-focused hypercar, equipped with a 5.0-liter twin-turbo V8 engine that produces up to 1,600 horsepower on E85 biofuel. This car was awarded the ‘2022 BBC Top Gear Hypercar of the Year.‘ [7]

Another notable model is the Koenigsegg Gemera, a four-seater hypercar that combines extreme performance with practicality. It features a unique hybrid powertrain, including a 2.0-liter three-cylinder engine and three electric motors, delivering a total output of 1,700 horsepower.

The company continuously pushes the boundaries of automotive design and engineering to create extreme-performance vehicles. In 2023, Koenigsegg expanded its operations by opening a new 30,000-square-meter factory, effectively doubling its production capacity. [8]

1. Volvo Cars 

Founded in 1927
Ownership: Geely Holding (78.7%)
Production Output: 708,700+ units (2023)
Annual Revenue: $37.49 billion (2023)

Founded in Gothenburg, Sweden, Volvo has grown to become a global brand known for producing vehicles that blend luxury with advanced safety features. The company is now owned by Chinese conglomerate Geely Holding Group. 

Volvo Cars’ lineup includes a variety of notable vehicles, such as the XC90 (a luxury mid-size SUV), XC60 (a compact luxury SUV), S60 (a premium compact sedan), and V90 (a luxury wagon). The Volvo XC60 is the top-selling model, with sales reaching 228,646 units in 2023, followed by the XC40 and XC90, which sold 200,670 and 107,549 units, respectively.

Volvo’s electric cars are becoming increasingly popular. In 2023, they sold 113,419 fully electric cars, a 70% increase from the previous year, and 152,561 plug-in hybrid models, a 10% increase from 2022. Sales of fully electric vehicles accounted for nearly 16% of total Volvo cars sold worldwide during 2023. In the same year, Volvo Car Group achieved $37.49 billion in annual revenue and $2.43 billion in operating profit. [9]

The company places a strong emphasis on safety, continuously introducing advanced features like City Safety, Pilot Assist, and Run-off Road Mitigation. Volvo aims to eliminate fatalities in new Volvo cars and become a fully electric car brand by 2030. It also seeks to be climate-neutral by 2040, focusing on minimizing carbon emissions throughout its entire value chain. [10]

Popular Defunct Car Companies in Sweden  

7. Saab Automobile
Founded in 1945
Defunct in 2016 
Popular Models: Saab 92, Saab 900, Saab 9-5

Saab Automobile was established as a division of the Swedish aerospace and defense company, Saab AB. It featured an aerodynamic design inspired by the company’s aviation background and sold about 20,000 units through the mid-1950s.

Since then, Saab has made significant contributions to the automobile industry, including innovations such as turbocharging, side-impact protection, and cabin air filters.

However, it struggled to compete with larger, more financially stable automakers that could offer similar features at lower costs. The company faced ongoing financial difficulties, especially after its separation from General Motors in 2010. Due to insufficient funding, it filed for bankruptcy in 2011 and ceased production. [11]

8. Jösse Car

Jösse CarIndigo 3000

Founded in 1994
Defunct in 2003 
Popular Model: The Indigo 3000

Jösse Car was founded with the goal of producing high-performance sports cars that could compete with established brands. Its primary model, the Indigo 3000, was designed to offer a thrilling experience.

The car was powered by a 3-liter inline-six engine sourced from Volvo, producing 204 horsepower. It could accelerate from 0 to 100 km/h in 6.5 seconds and achieve a top speed of 250 km/h. Production was exclusive, with only 44 units manufactured between 1996 and 1999, enhancing its allure among enthusiasts. [12] 

Despite its acclaim, Jösse Car, being a small manufacturer, faced financial constraints that limited its ability to scale production and invest in technology and marketing. Eventually, the company went bankrupt in 2003. 

9. Fuldamobil

FuldamobilThe Fuldamobil Type S

Founded in 1950
Defunct in 1969
Popular Models: Fuldamobil N-2, S-6, and N-3

Although Fuldamobil was a small German microcar company, it had notable connections to Sweden. In Sweden, the Fuldamobil was produced under license by different manufacturers, including NWF and later by the Swedish company HMW, which branded it as the Fram-King Fulda. 

The Fuldamobil was one of the earliest microcars, created as an affordable means of transportation during the post-war era. The company introduced several variants throughout its production run, with the most popular being the Fuldamobil N-2, S-6, and N-3. All these models featured a lightweight, bubble-like design. 

However, as the European economy recovered and consumers began to demand larger and more powerful cars, the market for microcars diminished. In the late 1960s, increased competition from other automakers eroded Fuldamobil’s market share.  

10. NEVS
Founded in 2012
Defunct in 2023
Popular Models: NEVS 9-3 EV and Sango

NEVS (short for National Electric Vehicle Sweden) was established with the primary goal of reviving the legacy of Saab Automobile by focusing on sustainable and electric mobility solutions. In 2012, it acquired major assets of Saab Automobile, including its manufacturing facilities, intellectual property, and some vehicle designs. 

In 2014, NEVS introduced its first electric vehicle, the 9-3 EV, based on the Saab 9-3 platform. This car was designed primarily for the Chinese market, where NEVS aimed to capitalize on the growing demand for EVs. However, it didn’t work, and the company accumulated a lot of debt. 

In 2019, the Chinese real estate giant Evergrande Group acquired a 51% stake in NEVS, providing financial backing for NEVS’s research and development. However, in 2021, the situation took a turn for the worse as Evergrande Group faced severe debt issues exacerbated by the COVID-19 pandemic.[13]

Without further financial backing and lacking a market-ready product, NEVS was forced to shut down in 2023.

11. Uniti
Founded in 2016
Defunct in 2022
Prototype: Uniti One

Uniti’s vision was to create a lightweight and affordable EV for urban use. They gained significant attention and funding through successful crowdfunding campaigns, raising more than $3.6 million from investors and supporters who believed in the company’s vision. [14]

In 2017, Uniti unveiled its first prototype, the Uniti One, at a launch event in Sweden. This small, three-door hatchback was powered by an electric motor and boasted a range of up to 300 kilometers on a single charge. As per specifications, it could reach a top speed of 120 km/h and accelerate from 0 to 100 km/h in about 9.9 seconds.

The company planned to build a state-of-the-art manufacturing facility in Landskrona, Sweden, to produce the Uniti One. It also explored production partnerships and facilities in other regions, including the UK and Australia. Unfortunately, these plans never reached the production stage, and the company ultimately went bankrupt.

Read More

Sources Cited and Additional References

  1. Trade Data, Annual international trade statistics of Sweden, TrendEconomy
  2. Gallery, All models and their images, Caresto
  3. News Release, Scania publishes the Annual and Sustainability Report for 2023, Scania
  4. Press Release, Polestar publishes full-year 2023 results, Polestar
  5. News, 2023 annual sales by Geely holding brands rise 20% to 2.79 million units, Geely
  6. Company Overview, Lynk and Co revenue and competitors, Growjo
  7. Car News, The winners of the 2022 TopGear.com awards, TopGear
  8. News, Koenigsegg factory: Mega expansion with race track for customers, Motor1
  9. Press Releases, Volvo Cars reports new global sales record in 2023, Volvo Cars
  10. Sustainability, We plan to become a fully electric car company by 2030, Volvo Cars
  11. Business News, Saab files for bankruptcy in Sweden, BBC
  12. Wikipedia Page, Indigo 3000, Wikimedia Foundation
  13. China News, Timeline: China Evergrande’s worsening debt crisis, Reuters
  14. Company Summary, Uniti Financials and funding, Crunchbase
Written by
Varun Kumar

I am a professional technology and business research analyst with more than a decade of experience in the field. My main areas of expertise include software technologies, business strategies, competitive analysis, and staying up-to-date with market trends.

I hold a Master's degree in computer science from GGSIPU University. If you'd like to learn more about my latest projects and insights, please don't hesitate to reach out to me via email at [email protected].

View all articles
Leave a reply