Construction of the plant should begin next year, and serial production will start in 2026. The plant should produce 250,000 electric cars a year and create several thousand jobs in the region.
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This is an investment of 1.2 billion euros (over 29 billion crowns). “We are fully focused on achieving the goal of being an all-electric mobility brand by 2030,” said Volvo Cars CEO and President Jim Rowan. “Expansion in Europe is key to our transition to electrification and continued growth,” he added. Twenty percent of the investment will be state support.
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Volvo will build its plant in the industrial park near the village of Valaliky, explained Minister of Economy Richard Sulík (Freedom and Solidarity).
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“I appreciate that Volvo Cars has decided to build its new plant in Slovakia. It shows their trust in us,” responded Slovak Prime Minister Eduard Heger (Ordinary people and independent personalities OLaNO).
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Factory in eastern Slovakia
The Prime Minister emphasized that it is very important that the plant is established in eastern Slovakia, which will improve the social and economic situation in the region. “Only electric cars will be produced at the plant, which represents the perspective of competitiveness in the new ecological era for the Slovak automotive industry,” added Heger.
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In Slovakia, the Volkswagen car company already operates in Bratislava, Citroën and Peugeot cars are produced in Trnava, the South Korean car manufacturer KIA has a plant near Žilina, and Jaguar Land Rover has a plant in Nitra.
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