While Volvo celebrates the 90th anniversary of the arrival of its first model this month, the company's story actually started in August 1924 because of a shared love of crayfish, according to the company archives.
Gustaf Larson was lured into the Sturehof seafood restaurant in Stockholm when he saw it had fresh crayfish on the menu. Once inside he saw a familiar face. His friend, Assar Gabrielsson, was also there to try the crayfish. Gabrielsson and Larson were former colleagues at Swedish ball bearing company SKF. During the meal, their discussion turned toward cars. At that time, nearly 15,000 cars a year were being imported into Sweden. Most of them were coming from the United States. The men asked themselves: Couldn't Sweden produce its own cars? A month later design work on their Swedish car started.
The name Volvo, which is Latin for "I roll," was first registered in 1915 for a product produced by SKF. That product was discontinued and the name remained dormant until 1926 when it was assigned to Larson and Gabrielsson's car project.