Volvo Cars plans to open its first US plant - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Volvo Cars plans to open its first US plant

Posted:

DETROIT (AP)- Volvo Cars is planning to build an assembly plant in the U.S.

The $500 million plant will be Volvo's first car plant in North America.

The Swedish automaker says it has a short list of possible locations, but didn't reveal them Monday. Spokesman Russell Datz says Volvo will announce the location in about a month.

Volvo has been owned by Chinese automaker Geely Holding since 2010. It currently has two plants in Europe and two in China.

Volvo CEO Hakan Samuelsson said the decision to open a U.S. plant highlights Volvo's long-term commitment to the U.S. market. The brand hopes to almost double its U.S. sales to 100,000 over the next few years.

Datz says the new plant will also reduce shipping costs and insulate Volvo from currency fluctuations.

  • Business NewsMore>>

  • Maryland Official Wants Sweeping Change in Craft Beer Rules

    Maryland Official Wants Sweeping Change in Craft Beer Rules

    11/21/2017 10:08:00 -05:002017-11-21 15:08:00 GMT
    Tuesday, November 21 2017 11:21 AM EST2017-11-21 16:21:59 GMT
    (Photo credit: MGN)(Photo credit: MGN)
    Maryland's comptroller is recommending sweeping changes to the state's regulation of craft breweries.More
    Maryland's comptroller is recommending sweeping changes to the state's regulation of craft breweries.More
  • New Delaware Policy Requires Screening of LLCs

    New Delaware Policy Requires Screening of LLCs

    11/20/2017 10:40:00 -05:002017-11-20 15:40:00 GMT
    Monday, November 20 2017 10:40 AM EST2017-11-20 15:40:46 GMT
    Delaware's secretary of state is implementing a new requirement to ensure the state's 1.3 million business entities are regularly screened against a federal database of terrorists, international drug traffickers and other criminals.More
    Delaware's secretary of state is implementing a new requirement to ensure the state's 1.3 million business entities are regularly screened against a federal database of terrorists, international drug traffickers and other criminals.More
  • US New Home Sales Soar to Highest Level in a Decade

    US New Home Sales Soar to Highest Level in a Decade

    10/25/2017 10:32:00 -04:002017-10-25 14:32:00 GMT
    Wednesday, October 25 2017 10:32 AM EDT2017-10-25 14:32:02 GMT
    This Wednesday, Sept. 6, 2017, photo shows a new home for sale in a housing development in Raeford, N.C. On Wednesday, Oct. 25, 2017, the Commerce Department reports on sales of new homes in September. (Swayne B. Hall/Associated Press)This Wednesday, Sept. 6, 2017, photo shows a new home for sale in a housing development in Raeford, N.C. On Wednesday, Oct. 25, 2017, the Commerce Department reports on sales of new homes in September. (Swayne B. Hall/Associated Press)
    Sales of new U.S. homes jumped last month to the highest level since October 2007. It's a sign that Americans, unable to find existing homes, are turning to new construction.More
    Sales of new U.S. homes jumped last month to the highest level since October 2007. It's a sign that Americans, unable to find existing homes, are turning to new construction.More
Powered by Frankly

All content © Copyright 2000 - 2017 WBOC. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices