Volvo chooses South Carolina for $500M assembly plant
Automaker’s first U.S. plant is expected to make about 100,000 vehicles a year.
Volvo Cars has picked South Carolina as the home for its first American plant.
The automaker plans to build a US$500 million plant about 30 miles from the Port of Charleston. The plant will eventually employ up to 4,000 people, and is expected to make about 100,000 vehicles a year, initially.
“We are proud to have this global leader in car manufacturing join and strengthen South Carolina’s automotive industry,” South Carolina Gov. Nikki Haley said in a statement released by the automaker.
Construction is expected to begin in the fall. The first vehicles are expected to be ready in 2018.
The company said vehicles made at the plant will be for the United States market, as well as for export. Volvo has two plants in Europe and two in China.
“This new global industrial footprint and a complete product renewal forms the foundation for our growth and profitability targets,” Hakan Samuelsson, president and chief executive of Volvo Car Corporation, said in a statement.