Volvo has announced that it plans to establish a third manufacturing plant in Europe in order to meet continued demand from its customers for electric cars and to capture future growth potential.
The new plant will be situated in Kosice, Slovakia. Volvo states the location was chosen as it offers good logistical and transport links to the rest of Europe and access to a good supplier base, complemented by the fact that the Slovak government was offering incentives the firm to base its operations there.
The new facility will give Volvo increased manufacturing coverage across Europe This new plant will give Volvo wider manufacturing coverage across Europe, complementing its Ghent plant in Belgium, and the Torslanda plant in Sweden.
Construction of the Kosice plant is planned to start in 2023, with equipment and production lines installed in 2024. Volvo states that series production of its next generation of all electric cars is scheduled to start at this new site in 2026.
In line with Volvo Cars' ambition to become fully-electric by 2030 and climate neutral by 2040, the new plant will use only climate-neutral energy, and will only build electric cars.
The facility is designed to produce up to 250,000 cars per year and is expected to provide several thousand new jobs in the region. The site also allows for further expansion of the plant in future.
Volvo Cars has an ambition to move towards annual sales of 1.2 million cars by the mid-decade, which it aims to meet with a global manufacturing footprint spanning Europe, the U.S.A, and Asia.
The new plant will be situated in Kosice, Slovakia. Volvo states the location was chosen as it offers good logistical and transport links to the rest of Europe and access to a good supplier base, complemented by the fact that the Slovak government was offering incentives the firm to base its operations there.
Construction of the Kosice plant is planned to start in 2023, with equipment and production lines installed in 2024. Volvo states that series production of its next generation of all electric cars is scheduled to start at this new site in 2026.
In line with Volvo Cars' ambition to become fully-electric by 2030 and climate neutral by 2040, the new plant will use only climate-neutral energy, and will only build electric cars.
The facility is designed to produce up to 250,000 cars per year and is expected to provide several thousand new jobs in the region. The site also allows for further expansion of the plant in future.
Volvo Cars has an ambition to move towards annual sales of 1.2 million cars by the mid-decade, which it aims to meet with a global manufacturing footprint spanning Europe, the U.S.A, and Asia.
