Volvo has just announced it will invest approximately $500 million to build a new manufacturing factory in the United States.
The move means Volvo is now a global car manufacturer with an industrial footprint on all three key continents. It has two factories in Europe, two in China and the future plant in the United States.
The new plant will allow the company to meet and ultimately exceed its volume targets in the United States. It will help accelerate the introduction of build-to-order in the United States and play an integral part in Volvo’s global manufacturing footprint, serving both domestic and export markets while helping limit the impact of currency variations.
"Volvo Cars can not claim to be a true global car maker without an industrial presence in the US. Today, we became that," said Hakan Samuelsson, Chief Executive and President. "The US is an absolutely crucial part of our global transformation and today’s announcement makes it perfectly clear that Volvo is in the US to stay."
