Just because a Chinese holding company owns something doesn't mean it's a "Chinese company".
Just like MG, which is now a brand owned by Shanghai Automotive Industrial Co. Or Jaguar Land Rover, owned by Tata Industries.
It's only a reductionist view in the very short term.
In fact, JLR and Volvo were more "brands" under Ford ownership, as compared to now where both are independent car makers.
So yes, it's a Chinese company, as much as the ownership of any large modern conglomerate can be attributed to a given nation. If that one guy wants all Volvo's to be shipped fluorescent pink it's going to happen.
Note that I was referring to Volvo Cars, the company that manufactures trucks etc. isn't owned by the same holding company, but they've got an agreement to share the "Volvo" brand.
