Volvo to Double Investment in South Carolina

According to multiple media reports, Volvo Cars is expected to double its investment at its plant in South Carolina. The new Volvo Charleston plant is still under construction, and the automaker is expected to announce that it will add a second production line.

Sources familiar with the project expect Volvo’s investment in the Palmetto State to exceed $1 billion.

Reuters reported that the move to raise capacity even before completion of the plant in Charleston will ultimately add 2,500 workers to the 2,000 already being recruited by the Swedish company ahead of its late 2018 grand opening.

The Charleston-based Post and Courier first reported the story. The plant expansion is an indication of confidence in the industry by Volvo. The company and the South Carolina Commerce Department have not commented on the expansion.

Following its ownership by Ford, Volvo has thrived under the ownership of Chinese car maker Geely’s parent company, Zhejiang Geely Holding Group. Volvo has reported four years of sales growth. Volvo announced it’s first U.S. plant in 2015.