Volvo Cars plans to establish its third European manufacturing plant in Slovakia. The new facility, which will build only EVs, will complement the company’s plants in Ghent, Belgium and Torslanda, Sweden.
The new facility represents an investment of around 1.2 billion euros. It will be located close to Kosice, in eastern Slovakia, where it will benefit from a well-established automotive supply chain, as well as good logistical and transport links to the rest of Europe. Incentives offered by the Slovak government were also a key factor in the siting decision.
Construction is planned to start in 2023, and equipment and production lines are to be installed during 2024. Series production of Volvo EVs is scheduled to start in 2026. The facility is designed to produce up to 250,000 cars per year.
In line with Volvo’s ambition to decarbonize its manufacturing operations by 2025, the plant will use only climate-neutral energy. Layout and logistics flow will be optimized, and Volvo Cars aims to meet the highest global standards in energy and environmental efficiency.
“We have a clear focus on becoming a pure electric mobility brand by 2030,” said Jim Rowan, Chief Executive at Volvo Cars. “Expansion in Europe, our largest sales region, is crucial to our shift to electrification and continued growth.”
Source: Volvo Cars