Volvo Vehicle considers opening third plant in Europe

BERLIN (Reuters) -Volvo Cars is taking into consideration creating a third plant in Europe in get to raise its output capability over and above 1.2 million vehicles per 12 months, a business spokesperson stated on Sunday.

German autos publication Automobilwoche claimed before on Sunday that the business was planning on making an additional European plant by the middle of the ten years to meet up with its manufacturing focus on of 1.2 million automobiles a year, quoting Volvo Autos CFO Bjorn Annwall.

A company spokesperson reported by e-mail to Reuters that the company was currently able to develop 1.2 million automobiles per year at its two existing factories and wanted to boost its capability past this sum, but no options had been finalised as of nonetheless.

“What we can say at this stage is that no final decision has been built. However, Volvo Cars and trucks has grown promptly around the past decade and purpose to keep on to mature at a similar speed likely forward,” the spokesperson said to Reuters.

The Gothenburg-dependent enterprise, which grew to become Sweden’s next premier listing nonetheless following its IPO in late Oct with a valuation of $18 billion, at this time generates around 800,000 cars a calendar year at its two factories – one in Sweden and the other in Belgium.

“We need both our crops in Europe… but we have to have much more. That’s why we want to construct a third plant,” Annwall reported to Automobilwoche. Wherever that plant will be positioned is not nevertheless apparent, he said.

(Reporting by Victoria WalderseeEditing by Raissa Kasolowsky)

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