Volvo Cars Expands U.S. Electrified Vehicle Production in South Carolina with New $118 Million Investment

• Volvo Cars will produce the Polestar 3 battery electric vehicle at its South Carolina plant under contract for Polestar Cars
• Polestar 3, to be built on Volvo Car Group’s next generation electric architecture, is the third vehicle scheduled to be built at the plant
• $118 million expansion brings the total Volvo Cars investment in South Carolina to more than $1.2 billion

RIDGEVILLE, SC (June 16, 2021) Volvo Cars will invest an additional $118 million into its Ridgeville, South Carolina plant to build the Polestar 3 on the Volvo Car Group’s next generation electric architecture, under contract for its affiliate, Polestar Cars. Polestar is the Swedish electric performance brand launched by Volvo Cars and Geely Holding in 2017.

The Ridgeville plant currently produces the Volvo S60 luxury sedan for U.S. and export markets. The fully electric Polestar 3 will join the S60 and the next generation of electrified Volvo cars coming out of the same facility.

“Our South Carolina team has done a remarkable job producing the award-winning S60 and readying the plant for the next generation of electrified Volvo cars,” said Javier Varela, Senior Vice President Industrial Operations & Quality, Volvo Car Group. “Now, with the contract to produce the fully electric Polestar 3, we continue to expand our manufacturing operations for electrified vehicles.”

“We are proud to bring these new growth opportunities to Ridgeville and continue to grow our presence in the United States,” said Anders Gustafsson, Senior Vice President, Volvo Car Americas and President and CEO, Volvo Car USA.

The global transformation for Volvo Cars continues with today’s announcement, signifying a cumulative investment of over $1.2 billion into the South Carolina operation with room for future growth. In addition to its manufacturing footprint, Volvo Cars continues to invest heavily in technology and design and its Americas Region sales operation, including employee training and development.

About Volvo Car USA

Volvo Car USA LLC, (www.volvocars.com/us) is a subsidiary of Volvo Car Group of Gothenburg, Sweden. VCUSA provides marketing, sales, parts, service, technology and training support to Volvo automobile retailers in the United States. For more information please refer to the VCUSA media website at: http://www.media.volvocars.com/us.