Volvo to Boost EV Production in South Carolina
June 22, 2021—Volvo Cars announced last week it will be dedicating significant resources to its EV portfolio.
The company will invest $118 million into its plant in Ridgeville, S.C., to build Polestar 3 electric vehicles, according to a company press release. The cars will be built in partnership with Polestar Cars, the Swedish electric performance brand launched by Volvo in 2017. The Ridgeville plant currently produces the Volvo S60 luxury sedan for both the U.S. and export markets. The Polestar three will be the third vehicles scheduled to be built at the plant.
"We are proud to bring these new growth opportunities to Ridgeville and continue to grow our presence in the United States,” said Anders Gustafsson, president and CEO of Volvo Car USA, via the news release. “Now, with the contract to produce the fully electric Polestar 3, we continue to expand our manufacturing operations for electrified vehicles.”
With this latest announcement, the company says its total investment in the state has eclipsed $1.2 billion.