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Volvo Near Decision on Location for U.S. Assembly Plant
Volvo Car Group will build its first American auto plant in South Carolina or another unidentified southern state, sources tell Reuters.
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Volvo Car Group will build its first American auto plant in South Carolina or another unidentified southern state, sources tell Reuters.
Volvo tells the news service it expects to chose a location for the $500 million facility in the next few weeks.
Reuters notes that South Carolina's economic development agency has filed a permit application on behalf of an unnamed company to erect a manufacturing plant in Berkeley Country that would initially employ 2,000 people.
Volvo said earlier its American factory will have annual capacity to make 120,000 vehicles, some of which will be exported. The company's sales in the U.S. peaked at about 140,000 units in 2004. It hopes to reach annual volume of 100,000 vehicles before the end of the decade.
Last year U.S. demand for Volvos fell 8% to 56,400 units. Deliveries through the first quarter of 2015 were virtually flat, according to Autodata Corp.
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