Geely’s Volvo unit expands in US

Source:Global Times Published: 2017/9/26 21:18:39

Sweden's Volvo Cars, a unit of Zhejiang Geely Holding Group, will expand its production capacity in the US by increasing its investment in its factory in South Carolina, media reports said on Tuesday.

The automaker will hire an additional 1,900 workers, CNBC reported. The plant will produce the S60 sedan and the first models are expected to be available in 2018, the reports noted.

Geely completed purchasing Volvo in 2010, which was China's biggest acquisition of a foreign automaker at that time, according to Reuters.

Volvo sold 82,726 vehicles in the US in 2016, which was a record number, CNBC said, citing the automotive research firm Autodata.

Posted in: COMPANIES

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