Volvo allegedly doubles investment in U.S.
The first American factory of the Swedish carmaker is still under construction, but a source familiar with Volvo’s plans told Reuters that the company has in the meantime decided to invest in a second production line, costing an additional $500 million to keep up with the sales growth.
Situated in Charleston, South Carolina, the Volvo plant will employ 2,500 extra workers on top of the 2,000 staff initially planned. It will build the next-generation S60 sedan plus another, still undisclosed model. A yearly production of 60,000 units is projected, 60 percent of which will be exported.
Volvo officials declined to comment, but according to local newspaper Post and Courier, a press conference will take place on September 25.