Volvo will formally expand its manufacturing footprint with the opening of the company’s new U.S. assembly plant. The plant represents a $1.1 billion investment on Volvo’s part.
The new plant is located near Charleston, South Carolina and will commence operations in autumn of this year by beginning production of the S60 sedan. S60’s that roll off the U.S. assembly line will actually be exported to global markets in addition to heading for U.S. dealerships.
“The sedan segment and the SPA platform’s proven ability to boost profitability offer significant growth opportunities for Volvo in the U.S. and globally,” said Volvo CEO Hakan Samuelsson.
The Volvo brand has seen significant sales increases in recent years. In fact, the brand is on track to sell over 600,000 units globally in 2018; the first time in the company’s 91 year history.
Volvo says the new Charleston plant will create about 4,000 new jobs over the next few years as the plant ramps up and includes office space for 300 employees. About 1,500 of those 4,000 will be on the job by the end of this year.
While production will start with the S60, Volvo has already confirmed the next-generation XC90 crossover will commence production at the new plant in 2021.