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Volvo to create 3,300 jobs at $1.25 billion EV plant in Slovakia

BRATISLAVA, Slovakia — Swedish luxury vehicle maker Volvo Cars plans to build a new European plant in eastern Slovakia, the countryÂ’s economy minister said Friday. VolvoÂ’s third European plant will be located in Kosice, SlovakiaÂ’s second-largest city, Economy Minister Richard Sulik said. Volvo will receive about 20% of the 1.2 billion euros ($1.25 billion) needed for the project as support from the Slovak government. The plant is expected to produce some 250,000 electric cars a year and to create some 3.300 jobs. Construction is scheduled to begin next year and production to start in 2026.  GermanyÂ’s Volkswagen, FranceÂ’s PSA Peugeot Citroen, South KoreaÂ’s Kia Motors Corp. and U.K.-based Jaguar Land Rover already have major plants in Slovakia, a Central European country of 5.5 million people. Volvo's plant will be the fifth there, and will bolster the country's standing as the biggest car producer per capita in the world, with the central European country of 5.4 million producing more than 1 million cars in 2021. For Volvo Cars, it will be its third plant in Europe and will build EVs only, in line with the company's ambition to produce EVs exclusively by the end of this decade. The European Union aims to phase out new fossil fuel car sales by 2035. "Expansion in Europe, our largest sales region, is crucial to our shift to electrification and continued growth," Chief Executive Jim Rowan said in a statement. The area targeted for the plant has long had high unemployment compared with the western part of the country. "I am very pleased that Slovakia succeeded in the competition for this mega investment that will bring development and many jobs to the east of Slovakia," Economy Minister Richard Sulik said in a statement. Volvo Cars' other European plants are in Belgium and Sweden. Its output last year rose by 5.6% to almost 700,000 automobiles, of which 27% were either fully electric or plug-in hybrids. The company, which is majority-owned by China's Geely Holding, listed on Nasdaq Stockholm last October. Includes material from Reuters.

2024 Volvo XC60 Review: Ignore the Germans, go Swedish

Pros: Elegant styling and beautiful cabin; spacious for the segment; excellent plug-in hybrid option; solid value Cons: Middling handling; pricey and strange Polestar performance model There's no doubt that European luxury SUVs are dominated by German carmakers. But what if you're looking for something a bit different? The 2024 Volvo XC60 may be the alternative you've been seeking, with unique Scandinavian design inside and out. Add in Volvo's commitment to safety, which should be of particular importance to family-minded shoppers, and the XC60 should have even stronger appeal. The XC60 is available as either a mild-hybrid or a more powerful Recharge plug-in hybrid, which can drive as many as 36 miles on electricity alone. We're certainly fans of the plug-in model, but its significant price premium may have shoppers settling on the more-than-adequate B5 base engine. More likely than not, prospective owners will spend more time configuring the interior. There are several choices of upholstery and interior trim that should fit a variety of tastes, and we're especially fond of the wool blend seats that are available on the Recharge. The XC60 isn't as sporty as the BMW X3, Mercedes-Benz GLC or Audi Q5, but that shouldn't matter much for the typical SUV driver. If you're one of the rare drivers who wants more athletic handling, the Polestar Engineered model should satisfy, but it comes at the cost of ride comfort. Considering the similarly sized Volvo V60 wagon would perhaps be a stronger alternative, including the raised, all-wheel-drive Cross Country model. Whichever route you take, the 2024 Volvo XC60 is a classy, safe and sensible alternative to the more common luxury SUVs. Interior & Technology   |   Passenger & Cargo Space   |   Performance & Fuel Economy What it's like to drive   |   Pricing & Trim Levels   |   Crash Ratings & Safety Features What's new for 2024? The XC60 lineup gets pared down a bit. The base B5 engine is no longer offered with front-wheel-drive and the more powerful B6 engine has been discontinued. There are some additions, though, including an air purifier for Plus and Ultimate trims and laminated windows for the Ultimate. A new Black Edition appearance package also debuts for the top trim. What are the XC60 interior and in-car technology like? Volvo’s attractive and refined shape is mirrored in its stylish, welcoming interiors.

Driving the 2020 Lotus Evora GT, and Defenders at a trickle | Autoblog Podcast #631

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Producer Christopher McGraw and Road Test Editor Zac Palmer. First, they talk about driving the 2020 Lotus Evora GT. Then they take some time to update any new happenings and opinions on our long-term Subaru Forester and Volvo S60 T8 plug-in hybrid. In the news this week, the new Land Rover Defender is in short supply, and Tesla is rumored to be creating a 12-passenger shuttle for use in The Boring Company tunnels. Finally, we reach into the mailbag to help a listener replace a Mazda3 hatch with something to better match their lifestyle. Autoblog Podcast #631 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving: 2020 Lotus Evora GT 2019 Subaru Forester long-term update 2020 Volvo S60 T8 long-term update The 2020 Land Rover Defender is in short supply Tesla may be working on 12-passenger shuttle for The Boring Co. Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.