Bratislava, July 1 (TASR) – Swedish car maker Volvo Cars is set to build a new plant for the production of electric cars for €1.2 billion near Kosice, the Economy Ministry reported on Friday.
The construction of the plant is scheduled to start in 2023, with installations of equipment and production lines slated for 2024. Series production of Volvo Cars’ next generation of pure electric cars is expected to be launched in 2026.
In line with the car maker’s aim to use climate-neutral production processes by 2025, the plant will deploy only climate-neutral energy. In addition, the facility will be designed to achieve the highest global standards of energy and environmental efficiency.
The plant should produce up to 250,000 vehicles per year and is expected to create several thousand jobs in the region. Its location will also allow for further expansion in the future.