There are reports out there that the Volvo Car company will be looking to dramatically expand its spending in the United States by adding a second production line to the facility that it is currently building in South Carolina. The estimated cost to add to the plant’s capacity will be in excess of one billion dollars according those close to the deal. They will look to add another 500 jobs, bringing the total amount of jobs created to over 2,500. While the company is being tight lipped about this new investment, the plant is slated to produce the Volvo S60 sedan, which is going through a complete redesign as well as another model that has not been confirmed at this time.
Estimates show that the company will be looking to pump out about 60,000 cars of which over half will be slated for export. The Swedish company is buoyed by its recent rebound, which was led by the company’s iconic XC90 crossover. They saw almost a half a million cars get produced last year and is aiming to almost double this amount this year. The company, which was bought by China’s Geely Holding Group back in 2010 from the Ford Motor Company, has been aggressively expanding its line up and has shifted resources into the new auto tech fields of autonomous driving, driver assistance and committing to change its fleet over to hybrid and electric power trains. It has also been reported that the company also received a boost from the local city council of Berkeley, South Carolina, who committed over $3 million in incentives to help secure the new plant.