Volvo will build its new electric car plant in Slovakia with an investment of 1.2 billion euros.

With government tax incentives, Volvo cars He announced the construction of an all-electric vehicle plant SlovakiaStart operating under sustainable energy production standards in 2026 and meet global demand that includes Mexico towards the electrification of the automotive sector.

“The new state-of-the-art plant will be climate neutral and will produce only electric vehicles, reinforcing the ambitions. Volvo cars It will be an all-electric company by 2030 and a climate neutral company by 2040, and will continue to expand its global manufacturing capacity to meet its growth plans.

It is estimated that the new plant will represent an investment of around 1,200 million euros and 20% will come from the government.

Construction of the Kosice plant is scheduled to begin in 2023 and equipment and production lines will be installed in 2024. Serial production of next generation vehicles Volvo Fully electric is planned to start in 2026.

The factory will be located near Kosice in the east Slovakiaand will be part of a well-established automotive supply chain by becoming the country’s fifth automobile plant.

In accordance with the aspiration of Volvo cars The plant will use only climate-neutral energy to carry out climate-neutral production operations by 2025. While Volvo Cars aims to achieve the highest global standards for energy and environmental performance, it is designed to be at the forefront of sustainable and efficient production of premium electric vehicles with optimized layout and logistics flow.

Jim Rowan, CEO Volvo carsHe noted: “We are focused on becoming an all-electric mobility brand by 2030, which is in line with our mission. Expansion into Europe, our largest sales region, is critical to our transition towards electrification and continued growth.”

highlighted the work of Volvo cars To expand the company’s manufacturing footprint in Slovakia. “Incentives provided by the Slovak government were also a key factor in the decision to build the plant in Kosice,” he said.

Kg