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Swedes from Volvo conquer the United States

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Swedes from Volvo conquer the United States
June 21
09:00 2018

Volvo Cars Corp published an interesting press release. The Swedish automaker announced its intention to open the first plant in the United States.

We recall that the Chinese concern Geely  has owned a car concern with a history of nearly a century for eight years.

This press release shares the information that the construction of the plant will take place in the town of Charleston, South Carolina. Investments are estimated at $ 1.1 billion.

The plant will occupy an area of about 650 hectares; interior space will take 213.7 thousand square meters. It is planned to hire about four thousand people, about one and a half thousand of them will begin their work this year.

The plant will specialize on the production of new sedans Volvo S60. In three years, the company’s management plans to launch new versions of the XC90 crossover in Charleston.

The planned production capacity of the plant is 150,000 cars.

At the moment, the Swedish automaker has got two plants in Europe and three in China. In addition, the company has assembly plants in Malaysia and India. The factory launch will significantly strengthen the company’s position in the global market.

A record 571.58 thousand cars was sold under the brand Volvo over the past year, this is 7% more than a year earlier. The company’s operating profit has amounted to $ 1.58 billion.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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