Home Business Volvo Car considers opening third plant in Europe
Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Volvo Car considers opening third plant in Europe

by maria
24 views

BERLIN (Reuters) -Volvo Cars is considering building a third plant in Europe in order to boost its production capacity beyond 1.2 million vehicles per year, a company spokesperson said on Sunday.

German autos publication Automobilwoche reported earlier on Sunday that the company was planning on building another European plant by the middle of the decade to meet its production target of 1.2 million vehicles a year, quoting Volvo Cars CFO Bjorn Annwall.

A company spokesperson said by email to Reuters that the company was already able to produce 1.2 million vehicles annually at its two existing factories and wanted to increase its capacity beyond this amount, but no plans had been finalised as of yet.

“What we can say at this stage is that no decision has been made. However, Volvo Cars has grown rapidly over the past decade and aim to continue to grow at a similar pace going forward,” the spokesperson said to Reuters.

The Gothenburg-based company, which became Sweden’s second largest listing yet after its IPO in late October with a valuation of $18 billion, currently produces around 800,000 cars a year at its two factories – one in Sweden and the other in Belgium.

“We need both our plants in Europe… but we need more. That’s why we want to build a third plant,” Annwall said to Automobilwoche. Where that plant will be located is not yet clear, he said.

(Reporting by Victoria WalderseeEditing by Raissa Kasolowsky)

You may also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More