Volvo has just announced the completion of the initial phase of construction of its new factory in Slovakia, which will have an annual production capacity of up to 250,000 cars, positioning itself as the third European factory of the Swedish brand.
Representing an investment of around €1.2 billion, the new factory, which is set to begin production in 2026, will be environmentally neutral and will produce only electric vehicles, reinforcing the sustainability goals outlined by Volvo.
This new production unit of the Swedish brand is seen as essential for Volvo’s operations in Europe, thus completing an European manufacturing triangle that covers the brand’s largest sales region.
“Expansion in Europe, our largest sales region, is crucial for our growth. I am very pleased with the expansion of Volvo Cars’ production line to Slovakia and I look forward to welcoming new colleagues and partners to the upcoming challenge,” said Jim Rowan, CEO of Volvo Cars.
To date, about 60% of the initial construction has already been completed, including some of the main buildings such as the paint, body, and foundry units. The next phase involves the construction of the hall for final assembly, electric motor production, and battery assembly.
