Volvo Cars has selected South Carolina as the location of its new $500-million factory in the US. The new facility will have initial annual production of around 100,000 cars and be located in Berkeley County, close to Charleston.
The new plant will make latest generation Volvo models for sale in the United States and for export. Construction will begin in early autumn 2015, with the first vehicles expected to roll off the assembly line in 2018.
Once completed, Volvo will be able to manufacture cars on three continents, underscoring its position as a truly global car maker. It already operates two plants in Europe and two in China.
The new US plant is part of a medium-term expansion plan to double global sales, boost market share and lift profitability.
An important factor in Volvo Cars’ renaissance will be the US market. Volvo Cars has been doing business in the US since 1955 and has a medium-term target to sell at least 100,000 cars a year there.