(ROCKLEIGH, NJ – May 11, 2015) Volvo Cars has chosen Berkeley County, South Carolina as the location of its first American factory,INVESTING up to $500 Million in a facility with a capacity to initially produce up to 100,000 cars per year.
The Berkeley County factory, located outside of Charleston, 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 Cars will be able to manufacture vehicles 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 forms part of an ambitious medium term expansion plan to double global sales, boost market share and lift profitability.
“This new global industrial footprint and a COMPLETE product renewal forms the foundation for our growth and profitability targets,” said Håkan Samuelsson, president and chief executive of Volvo Car Corporation.
Volvo began importing cars to the US in 1955. With the development of an American factory, the company crosses an important threshold from an automotive importer to a domestic manufacturer.