By choosing Slovakia as the site for its new plant, Volvo Cars is creating a European manufacturing triangle spanning its largest sales region, complementing the Ghent (Belgium) plant in Western Europe and the Torslanda (Sweden) plant in North Europe.
The new facility represents an investment of around 1.2 billion euros.
It will be located near Kosice in the eastern part of Slovakia, where it will benefit from a well-established supply chain, as it will become the country's fifth car plant.
Kosice indeed offers good logistics and transport links to the rest of Europe, as well as access to a supplier base.
The incentives offered by the Slovak government were also a key factor in the decision to locate the factory in Kosice.
Construction of the Slovakian plant is scheduled to begin in 2023, with equipment and production lines installed in 2024. Mass production of next-generation purely electric Volvo cars is scheduled to start in 2026. The facility is designed to produce up to to 250,000 cars per year and should create several thousand new jobs in the region.
The site also allows for future plant expansion.
This will only use climate-neutral energy.
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