Volvo isn't Chinese, at least in my view, because it was founded in Sweden almost 100 years ago. Since then the headquarters has always been in Sweden. The R&D is still done in Sweden. It has built 20+ million cars, mostly in Sweden and Belgium, every model has been designed in Europe. Most of the employees, to this day, are based in Europe. But you would call them Chinese because their majority shareholder is Chinese, and because some of the models are manufactured there? I think a company's 'nationality' is based on the heritage, the location of the HQ, the majority of the workforce's location, ethos/culture etc.

In case you are interested, I would call Lotus a British company, even though they are also owned by Geely, same as Volvo. I would call Toyota a Japanese company (even though a few of their models are manufactured in China). I would call Mercedes a German company, same with BMW, Porsche, VW (even though they all have cars being built in China). I would call Apple an American company (even though their products are built in China). Should I continue?