Volvo Cars will build a third manufacturing facility on the Europe Continent focusing on an all-electric vehicle output. Wayne Gerdes – CleanMPG – July 1, 2022 A manufacturing triangle designed for sustainable efficiency. The new state-of-the-art manufacturing facility will be climate neutral and build only EVs, underpinning the company’s ambition to become fully electric by 2030, just over 7 years from now, and climate neutral by 2040. By choosing Slovakia as the location, Volvo Cars creates a European triangle of manufacturing covering its largest sales region with the Ghent plant (Belgium) in western Europe and the Torslanda plant (Sweden) in northern Europe. The new facility represents an investment of around $1.23 billion USD. It will be located close to Kosice, in the eastern part of Slovakia, where it will benefit from a well-established automotive supply chain as it becomes the fifth car plant in the country. Volvo Cars projects annual sales of 1.2 million cars by 2025, which it aims to meet with a global manufacturing footprint spanning Europe, the US and Asia. Construction of the Kosice plant is planned to start in 2023, with equipment and production lines installed during 2024. Series production of next-generation, pure electric Volvo cars is scheduled to start in 2026. The plant will use only climate neutral energy. It will also be designed to be a leader in sustainable and efficient premium electric car production. Kosice offers good logistical and transport links to the rest of Europe and access to a good supplier base. The incentives offered by the Slovak government, up to 20% of the upfront financial cost of the facility with long term employment for several thousand of its citizenry the true benefit. The site is being designed with future expansion if necessary. The establishment of the Kosice plant represents the first new European manufacturing site for Volvo Cars in almost 60 years. The Torslanda plant was opened in 1964, while the Ghent factory followed a year later. Together, these facilities can produce 600,000 cars per year. July 2022 Global sales reached 44,664, down 21.5% from the 56,883 sold in July of 2021. YTD sales of 335,965 were down 23.2% below the 437,640 sold through the same period of 2021.