Volvo plans $500M car factory in US


BLOOMBERG: In an effort to revive sales in the US, Volvo Car Group plans to build a $500 million factory.

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BLOOMBERG: In an effort to revive sales in the US, Volvo Car Group plans to build a $500 million factory.

The plant will start operation in 2018 and produce vehicles built with the same underpinnings as the XC90 sport-utility vehicle, Gothenburg, Sweden-based Volvo Cars said Monday. The company has drawn up a shortlist of possible sites and will decide later on the plant’s location, size and models.

“The U.S. is an absolutely crucial part of our global transformation,” Chief Executive Officer Hakan Samuelsson said in a statement. “Today’s announcement makes it perfectly clear that Volvo is in the U.S. to stay.”

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