Volvo Cars invests $500 million to build new factory in U.S

Specifications:

Name:

Volvo Cars invests $500 million to build new factory in U.S

Location:

United States

Company:

Volvo Cars

Estimated Cost:

$500 million

Source:

volvocars.com

Introduction:

Volvo Cars announced plans to build a brand new manufacturing facility in the US, fulfilling its ambition to be a truly global car maker with an investment of $500 million.

Features:

The transformation plan involves the creation of a global industrial footprint, the complete renewal of Volvo’s product range over the next four years, the introduction of a new modular vehicle technology, the development of world-first safety technologies, a new design language and a range of class-leading connectivity services.

The plant will serve export markets as well as the United States, where Volvo is aiming for a return to annual sales of 100,000 vehicles. It will help accelerate the introduction of build-to-order in the US as well as being an integral part of Volvo’s global manufacturing footprint, serving the US and export markets. Production will begin in 2018.