Volvo has announced the construction of a third vehicle production center in Europe. An electric car factory that will be in Slovakia. These facilities will play a leading role in the roadmap of the Swedish firm to be ready for the incipient era of the electric vehicle.
The brand Volvo it wants to be ready to face the new era to which the automotive industry in Europe is heading at a fast pace. An era marked by sustainable mobility and, more specifically, by electrification at its highest level. The Swedish manufacturer has started its particular process of transition to the electric car. Moreover, in its range it already has several 100% electric models. However, the company wants to go one step further and increase its production capacity.
Volvo has officially announced the start-up of what will be its third vehicle production center in Europe. Facilities exclusively for the manufacture of electric vehicles. The Volvo’s new electric car factory will be in Košice (Slovakia) and is called to play a leading role in the roadmap established by the company.
Volvo’s new electric car factory in Europe
The establishment of a production center of these characteristics will put Volvo in an advantageous position to meet the growing demand for electric cars in the Old Continent. It will be a state-of-the-art and climate-neutral plant. In addition, the fact that it is specifically intended for the production of electric models confirms the Volvo’s commitment to become a fully electric brand by 2030.
It will be necessary to carry out a investment of approximately 1,200 million euros to start up the new production center. Construction of the plant in Košice is scheduled to start in 2023, with equipment and production lines installed in 2024. If all goes according to plan, Volvo’s new factory in Slovakia will be ready for start serial production of electric cars sometime in 2026.
The facility is designed to produce up to 250,000 cars per year and is expected to create several thousand jobs. In addition, the factory will be built taking into account the possibility of it being expanded in the future. The new facilities in Slovakia join Volvo’s existing factories in Ghent, Belgium, and Torslanda, Sweden.
Volvo’s ambitious sales target
Volvo has set an ambitious sales target. By the middle of this decade annual sales of 1.2 million cars. The Swedish brand wants to improve and consolidate its global position, placing special emphasis on Asia, the United States and Europe.