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>>

  • Sears Files for Chapter 11; to Close Another 142 Stores

    Sears Files for Chapter 11; to Close Another 142 Stores

    Monday, October 15 2018 9:46 AM EDT2018-10-15 13:46:36 GMT
    Monday, October 15 2018 10:12 AM EDT2018-10-15 14:12:10 GMT
    In this July 8, 2017, file photo people walk into a Sears store slated for closing that is next to a mall that is being torn down in Overland Park, Kan.In this July 8, 2017, file photo people walk into a Sears store slated for closing that is next to a mall that is being torn down in Overland Park, Kan.
    In this July 8, 2017, file photo people walk into a Sears store slated for closing that is next to a mall that is being torn down in Overland Park, Kan.In this July 8, 2017, file photo people walk into a Sears store slated for closing that is next to a mall that is being torn down in Overland Park, Kan.
    Sears filed for Chapter 11 bankruptcy protection Monday, buckling under its massive debt load and staggering losses. As part of its bankruptcy, Sears plans to close another 142 unprofitable stores, on top of 46 store closings announced in August.More
    Sears filed for Chapter 11 bankruptcy protection Monday, buckling under its massive debt load and staggering losses. As part of its bankruptcy, Sears plans to close another 142 unprofitable stores, on top of 46 store closings announced in August. More
  • Ahead of 3-way Split, DowDuPont Unveils New DuPont Logo

    Ahead of 3-way Split, DowDuPont Unveils New DuPont Logo

    Thursday, October 4 2018 2:31 PM EDT2018-10-04 18:31:52 GMT
    Thursday, October 4 2018 2:31 PM EDT2018-10-04 18:31:52 GMT
    Ahead of next year's spinoff, the division that will retain the DuPont name has a new look.More
    Ahead of next year's spinoff, the division that will retain the DuPont name has a new look.           More
  • Delaware Officials Eye Changes to Prevailing Wage Rules

    Delaware Officials Eye Changes to Prevailing Wage Rules

    Tuesday, October 2 2018 6:51 AM EDT2018-10-02 10:51:55 GMT
    Tuesday, October 2 2018 6:51 AM EDT2018-10-02 10:51:55 GMT
    State officials are eyeing changes to Delaware's prevailing wage regulations, which govern what workers are paid on public works projects.More
    State officials are eying changes to Delaware's prevailing wage regulations, which govern what workers are paid on public works projects.More
Powered by Frankly

All content © Copyright 2000 - 2018 WBOC. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices