Volvo doubles US plant investment

Source:Global Times Published: 2017/9/20 22:08:40

To achieve higher growth, Chinese-owned Swedish automaker Volvo Cars is planning to enlarge its factory in the US, Bloomberg reported Wednesday.

Volvo may double the investment in its plant in South Carolina, to a sum of $1 billion, Bloomberg said, citing a source familiar with the issue. The additional investment is expected to create 1,900 jobs on the basis of the current 2,000 ones, it said.

The money will go to the establishment of a second production line, according to the report.

Posted in: COMPANIES

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