Volvo to Establish Manufacturing Presence in US
Volvo is laying plans to establish a manufacturing presence in the U.S. that will require an investment of approximately $500 million.
The exact size of Volvo’s investment and the location for its new plant weren’t a part of today’s announcement, but the company said it has identified potential locations.
“The U.S. is an absolutely crucial part of our global transformation and today’s announcement makes it perfectly clear that Volvo is in the U.S. to stay,” CEO Håkan Samuelsson said today.
SEE ALSO: 2016 Volvo XC90 Review
Volvo is in the middle of an ambitious re-boot plan that will see its entire product range retooled to rely on a modular platform strategy powered by new four-cylinder engines that use both turbocharging and supercharging.
Volvo’s latest product, the redesigned XC90 crossover, will go on sale in the U.S. this spring. It will be available with a gasoline-only powertrain that generates 316 hp and 295 lb-ft of torque or a hybrid option with 400 hp and 472 lb-ft of torque.
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Luke is an energetic automotive journalist who spends his time covering industry news and crawling the internet for the latest breaking story. When he isn't in the office, Luke can be found obsessively browsing used car listings, drinking scotch at his favorite bar and dreaming of what to drive next, though the list grows a lot faster than his bank account. He's always on <A title="@lukevandezande on Twitter" href="http://twitter.com/lukevandezande">Twitter</A> looking for a good car conversation. Find Luke on <A title="@lukevandezande on Twitter" href="http://twitter.com/lukevandezande">Twitter</A> and <A title="Luke on Google+" href="http://plus.google.com/112531385961538774338?rel=author">Google+</A>.
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