Startup Observer.com
  • Home
  • Industries
  • Innovation
  • outsourcing
  • Business
  • Finance
  • Headlines
  • Opinion
  • News
Home Business Volvo Car considers opening third plant in Europe
Business

Volvo Car considers opening third plant in Europe

by maria November 15, 2021
November 15, 2021
gawdo

BERLIN (Reuters) -Volvo Cars is considering building a third plant in Europe in order to boost its production capacity beyond 1.2 million vehicles per year, a company spokesperson said on Sunday.

German autos publication Automobilwoche reported earlier on Sunday that the company was planning on building another European plant by the middle of the decade to meet its production target of 1.2 million vehicles a year, quoting Volvo Cars CFO Bjorn Annwall.

A company spokesperson said by email to Reuters that the company was already able to produce 1.2 million vehicles annually at its two existing factories and wanted to increase its capacity beyond this amount, but no plans had been finalised as of yet.

“What we can say at this stage is that no decision has been made. However, Volvo Cars has grown rapidly over the past decade and aim to continue to grow at a similar pace going forward,” the spokesperson said to Reuters.

The Gothenburg-based company, which became Sweden’s second largest listing yet after its IPO in late October with a valuation of $18 billion, currently produces around 800,000 cars a year at its two factories – one in Sweden and the other in Belgium.

“We need both our plants in Europe… but we need more. That’s why we want to build a third plant,” Annwall said to Automobilwoche. Where that plant will be located is not yet clear, he said.

(Reporting by Victoria WalderseeEditing by Raissa Kasolowsky)

www.gawdo.com
Share on FacebookShare on TwitterShare on Linkedin
0 FacebookTwitterPinterestEmail
previous post
Trump reaches $375M deal to sell DC hotel – WSJ
next post
Britain’s Tesco increases dominance with 12-week sales rise – NielsenIQ

You may also like

Influencer Marketing and Protecting Brand  Values  

May 11, 2022

6 Months On From COP26, What Have We...

May 11, 2022

ESG action downgraded as a priority by SMEs

May 11, 2022
Editorial & Advertiser disclosureEditorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
gawdo.com
https://www.gawdo.com
  • About us
  • Advertising & Terms of Use
  • Contact Us
  • Privacy Policy

@2021 - All Right Reserved.


Back To Top
Startup Observer.com
  • Home
  • Industries
  • Innovation
  • outsourcing
  • Business
  • Finance
  • Headlines
  • Opinion
  • News
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT