Electronics and Semiconductors

Volvo expands EV production with $118 million investment

17 June 2021
Total investment in the South Carolina facility is now at $1.2 billion. Source: Volvo

Volvo Cars plans to invest an additional $118 million into its Ridgeville, South Carolina, factory where it will build the Polestar 3 next generation electric architecture.

Polestar, the electric performance brand of Volvo Cars and Geely Holding, will join the Volvo S60 sedan for the U.S. and export markets and will be part of Volvo’s electrified future.

In March, Volvo joined a growing list of automotive OEMs that pledged to phase out the sale of gasoline vehicles by 2030 and manufacture primarily all-electric vehicles.

The new investment in the South Carolina operation brings the total to $1.2 billion with room for future growth, Volvo said.

Additionally, Volvo will continue to invest in technology and design in the North American region including more training and development of new employees.

To contact the author of this article, email PBrown@globalspec.com

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