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Wednesday, 08 December 2021

Volvo cars considers building third plant in Europe to increase annual production capacity

Volvo cars considers building third plant in Europe to increase annual production capacity

The Indian News Republic reported according to media outlets, a spokeswoman for the Volvo company said on Sunday that Volvo Cars is considering building a third plant in Europe to increase its annual production capacity to more than 1.2 million units.

German car publication Automobilwoche quoted Volvo Cars CFO Bjorn Annwall on Sunday as another European plant by mid-2010 to reach its annual production target of 1.2 million units. He reported that he was planning to build it.

[caption id="attachment_240940" align="aligncenter" width="855"]Volvo/Pixabay Volvo/Pixabay[/caption]

A spokesperson for a company said in an email to Reuters that the company was already able to produce 1.2 million vehicles a year at its two existing plants and would like to exceed this amount to increase production capacity, but the plan is Not confirmed yet.

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The spokeswoman said: “The only thing we can say at this stage is that no decisions have been made, but Volvo Cars has grown rapidly over the last decade and aims to continue to grow at a similar pace in the future." The person in charge told Reuters.

The Gothenburg-based company was the second largest listing in Sweden, with a $ 18 billion initial public offering following an IPO in late October, and currently has about 800,000 cars a year at its two plants in Sweden and Belgium. Is producing.

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Anwall told Automobilwoche: “We need both factories in Europe … but we need more. That’s why we want to build a third factory." He said that it’s not yet clear where the factory will be located.

Volvo Cars is considering opening a third plant in Europe to increase production capacity.

Source: indianewsrepublic