BERLIN — Volvo Vehicles would like to establish a 3rd factory in Europe soon after 2025, Chief Economical Officer Bjorn Annwall stated, in get to go beyond a focus on of providing 1.2 million automobiles each year by that calendar year, an maximize of far more than 80 per cent in comparison with the 661,713 models sold in 2020.
The Gothenburg-based mostly firm, which became Sweden’s 2nd largest listing ever after its IPO in late October with a valuation of $18 billion, currently has two factories in Europe — 1 in Torslanda, Sweden, and the other in Ghent, Belgium.
“We require both our crops in Europe … but we need additional. That is why we want to create a third plant,” Annwall explained to Automotive Information Europe sister publication Automobilwoche.
Annwall told the Swedish enterprise newspaper Dagens Industri in July about Volvo’s system to include generation capability beyoud 2025, expressing the plant would “most likely be in Europe.”
Exactly where that plant will be situated is not nonetheless distinct, he explained.
Volvo Main Technological innovation Officer Henrik Green told Automotive Information Europe in July that the automaker can achieve its 1.2 million revenue intention “if we bump up the most capacity in all the crops that we have.”
“But relocating ahead over and above 2025 and likely to even bigger quantities, which we approach to do, we would have to have much more potential than we have these days,” Green explained to ANE.