Origins
After building a series of compact cars, DAF sought a partner to bring its new larger model, codenamed P900 and intended to become the DAF 77, to market in 1970. Several manufacturers were approached, including Audi, BMW, and Volvo. Volvo was not originally interested due to the cost, but they were later persuaded by DAF's access to Renault engines. This helped Volvo expand its model line-up without the large expenditures associated with developing a new model. Building cars in the Netherlands also helped the Swedish Volvo to access the markets of the EEC, of which Sweden was then not yet a member.
Volvo purchased a one-third share in DAF in 1973, increasing to a three-quarters stake in 1975; the DAF company's name was changed to Volvo Car BV that year. Free of its passenger car division, DAF's commercial vehicle division, DAF Trucks, still operates today.
Read more about this topic: Volvo 300 Series
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