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Volvo Cars will build a third manufacturing plant in Europe, positioning the company well to meet the continued demand from its customers for electric cars and capture future growth potential. The new facility represents an investment of around €1.2 billion; Volvo expects around 20% to be funded by governmental support.
Volvo Cars announces today it will establish a third manufacturing plant in Europe, positioning the company well to meet the continued demand from its customers for electric cars and capture future growth potential.
The power hubs will provide energy to power the showrooms, workshop buildings and the charging infrastructure for customer cars. The company has also received 160 pre-orders for the power hubs from its dealers in Czech Republic, Germany, Netherlands and Slovakia. The company has also completed its pilot project successfully in Prague.
With new electric vehicles launching, including the Macan, Boxster, Cayenne, and a range-topping seven-seater EV, Porsche is laying the groundwork for the future. Porsche launched its first fullyelectric car, the Taycan, in 2019. With nearly 42,300 Taycan’s sold in 2021, Porsche’s electric vehicle sales more than doubled.
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