Volvo is complicated. Basically a lot of these smaller companies and countries realized there was no way they could make the economics work with the cost of electronics and software-related R&D being what they are. So they sold to larger players. But design and final assembly still happens in Gothenburg for high-end models that are typically destined for the EU market. The US now manufactures the SUVs.
Volvo was bought by Ford in 1999 and then sold by Ford to Geely in 2010. It had nothing to do with software related r&d, it was mostly down to Ford needing money after the financial crisis.
Volvo have factories in Sweden, Belgium, USA, and China. The new EX60 is manufactured in Sweden. The US factory makes the EX90, XC60, Polestar 3, and until recently the S60 sedan.
Volvo Cars is still headquartered in Sweden, and employ 22.4k people in Sweden out of 40k globally[1].
Given that the market for Volvo is global, it seems to me that Volvo Cars is still overwhelmingly Swedish, while at the same time being overwhelmingly controlled by Geely.
