Volvo Cars will open a factory in Europe for the first time in 60 years

Volvo Cars will open a factory in Europe for the first time in 60 years


It’s about “The opening of the first Volvo production plant in Europe in almost 60 years”, emphasizes the Swedish brand in a press release.
The site, which represents an investment of 1.2 billion euros, is to be built from 2023 in Kosice in eastern Slovakia,
5.4 million residents, members of the eurozone, which is already home to the factories of Volkswagen, Kia Motors, PSA Peugeot Citroën and Jaguar Land Rover.
The new facility where the series production is scheduled for 2026, adds to the two Scandinavian manufacturer’s historic sites, in Torslanda near Gothenburg in Sweden, and in Ghent in Belgium, both launched in the 1960s.

The factory must allow Volvo “meet the sustainable needs of its customers for electric vehicles and capture the potential for future growth” and “Several thousand jobs have been created”, shows the manufacturer, the property of Geely Chinese.
Volvo announced two years ago that all of its cars will be 100% electric by 2030, by the end of fuel and hybrid engines.
In this new “triangle” strategy, Ghent will focus on Western Europe, Torslanda on Northern Europe and Kosice on Central Europe.
New factory “will improve the socio-economic status of the region and produce only electric vehicles, which gives the Slovak automotive industry a competitive edge in the new ecological era”, welcomed the Prime Minister of Slovakia Eduard Hegerin a press release.

Volvo, which aims to increase its sales to 1.2 million cars a year around 2025, plans a capacity of 250,000 cars a year on its Slovak website.
The group did not mention possible impacts on the production of its other two European factories, which are converted to 100% electric vehicles.
But he recalled that Ghent and Torslanda together had the capacity to produce 600,000 cars a year.

By 2021, Volvo Vehicles had sold approximately 699,000 vehicles worldwide, including 293,000 in Europe, 172,000 in China and 122,000 in the United States, according to figures from the manufacturer.
Ford of the United States had sold Volley cars to Geely for $ 1.8 billion in 2010. In twelve years, the Swedish manufacturer has restored its accounts and brand image, driving the first SUV wave.