Volvo to open First US Factory in South Carolina

Volvo to open First US Factory in South Carolina

Volvo has become the latest automobile major to place a bet on South Carolina by picking Berkeley County to locate a $500 million assembly plant, having close access to critical shipping ports.

The main aim of the Chinese-owned auto maker is to nearly double the global sales by 2020. Since taking control of Volvo in 2012, Chief Executive Håkan Samuelsson has repeatedly defended the auto maker's decision to continue selling cars in the US regardless of sales decline and red ink in the region.

Earlier this year, Daimler AG's Mercedes-Benz made an announcement of $500 million van factory near Charleston.

According to the SC Automotive Council, BMW AG has been operating a plant in Spartanburg, which buoys a South Carolina automotive industry, employing 46,000 people.

Volvo Cars announces Plans to Open First Assembly Plant in US

Volvo Cars announces Plans to Open First Assembly Plant in US

In a bid to increase sales, Volvo Cars has decided to open an assembly plant in the US, said The Associated Press. For the North American plant, Volvo Cars would be required to shell out an estimated $500 million. The plant will help strengthen Volvo in a new push by the automaker in the US market.

Reports have revealed that the automaker has considered various locations for the construction of the assembly plant, but has not disclosed the short list of locations as of now. The company is expected to make the announcement in next few months.

Volvo to build its new plant in US

Volvo to build its new plant in US

On Monday, Swedish carmaker Volvo said that it would make an investment of $500m in order to construct a new factory in the US. This step has been taken by the company as it is looking forward to sell more 100,000 cars a year in the US, which is world's second largest auto market.

The target of selling 100,000 cars a year focuses on approximately 80% growth from current sales levels. It is expected that this year, the US market will reach 16.9m units. There has been growth in sales of General Motors, Chrysler and Ford.

Volvo to produce buses in partnership with S.M. Kannapa Automobile

volvoAuto giant Volvo Group on Wednesday announced a joint venture with S. M. Kannapa Automobile Private Limited to produce a range of UD buses in the value segment.

The Swedish auto manufacturer said it would invest Rs 125 crore and hold a 15 per cent stake in the joint venture.

The twelve-metre-long UD buses will be manufactured at a new facility situated between Hosakote and Kolar. The manufacturing facility will commence operation later this year, and the first batch of buses is expected to be rolled out of the facility by the end of this year.

Infosys gains on announcement of Volvo contract

Infosys gains on announcement of Volvo contractStock in Infosys jumped 0.25 per cent to Rs 3,398 at 9:24 IST on the Bombay Stock Exchange (BSE) on Tuesday, after the IT outsourcer announced that had bagged a multi-year contract from Volvo Cars.

Infosys, a global leader in consulting, technology & outsourcing solutions, said it had been selected Volvo Cars for providing applications to support multiple operations, including marketing, sales, manufacturing and customer services.

Volvo to develop self-driving cars

Volvo to develop self-driving cars Sweden-based Volvo Car Group on Monday announced an ambition plan to develop self-driving cars, with a promise that a fleet of 100 robot cars will hit the road by 2017.

Volvo said the project dubbed "Drive Me -- Self-driving cars for sustainable mobility" would officially start in 2014, and that it would test its "autonomous" cars on 50-kilometer (30 miles) stretch of selected roads in the city of Goteborg, Sweden, starting in 2017.

Volvo develops new light-weight, cheaper nano batteries for electric vehicles

VolvoJohannesburg, Oct. 19 : Automaker Volvo has developed new light-weight and cheaper nano batteries for future electric vehicles that could replace the conventional, heavy car batteries.

The new energy storage components consists of carbon-fibred, nano-structured batteries and super-capacitors, requires less space, is cost effective and eco-friendly, News24 reports.

The project in partnership with Imperial College London was funded by the European Union and is presently under tests in the form of panels within a Volvo S80 test vehicle.

Now, car airbag that pops out to protect pedestrians during accidents

Volvo-V40New York, Mar 7 : Swedish car manufacturers Volvo has unveiled its new “pedestrian airbag,” which pops up on the outside of the car to protect people who get struck.

The state-of-the-art airbag — which the automobile company just debuted at the Geneva Motor Show — is located right under the hood of the 2013 Volvo V40, the New York Post reported.

It pops out when the car crashes into a person while traveling at speeds between 12 and 30 mph.

That’s the range in which many pedestrians are struck.

Volvo mulling plans to setup assembly plant in India

Volvo mulling plans to setup assembly plant in IndiaSwedish luxury car manufacturer Volvo is mulling plans to establish assembly plans in emerging economies, including India, and has already started conducting a viability study in this regard.

Volvo aims to double its sales from current 440,000 units to nearly 800,000 units by the year 2020. In the Indian sub-continent, the manufacturer aims to increase sales by 20,000 units per year by the current decade's end.

Volvo to invest Rs 3,800 crore in India

Volvo to invest Rs 3,800 crore in IndiaHeavy-vehicles manufacturer Volvo recently announced that it would invest Rs 3,800 crore in India in the next few years.

Of the total investment, Rs 1,800 crore would go to the Swedish vehicle maker's joint venture (JV) with Eicher Motors, while the remaining amount would be invested towards improving its own operations.

Volvo, one of the leading manufacturers of truck, bus and earth-moving equipments in the world, has a 50:50 JV with Eicher Motors. The JV, called VE Commercial Vehicles, produces the Volvo-branded of trucks and Eicher brands of trucks and buses.

Volvo reports better profit in Q2 than expected

Volvo reports better profit in Q2 than expectedStockholm, July 25 - Swedish auto manufacturer Volvo group has posted a profit of 6,764 million Swedish kronor (about $970 million) before tax in the second quarter this year, which is better than expected.

Profit of Volvo group in the second quarter was earlier estimated to be 6,102 million Swedish kronor ($876 million) while the profit in the same period last year was 7,249 million Swedish kronor ($1,040 million), reported the company.

Volvo planning to invest Rs.400 crore in India

Volvo planning to invest Rs.400 crore in India World's second-largest bus maker, Volvo Bus Corp has said that it is planning to invest Rs. 400 crore in India. The company is aiming to achieve a target of $1 billion from the Indian market. The company generates about Rs. 1,000 crore from the Indian market and is aiming to increase it five times.

Volvo India to introduce trimmed variants of its luxury models

Volvo India to introduce trimmed variants of its luxury modelsThe Indian division of Swedish automaker Volvo Cars Corp. is mulling over plans to launch trimmed variants of one or more of its luxury models, such as sedans S60 and S80 to prop up volumes in the Indian market.

Announcing the company’s plans, Volvo Auto India’s managing director Tomas Ernberg said that some features would be removed from the luxury models to make their prices more competitive.

Volvo to recall 18,848 vehicles in China

Volvo to recall 18,848 vehicles in ChinaBeijing, Nov 30 - Automobile giant Volvo has said it would recall 18,848 vehicles in China to repair manufacturing defects.

The recall beginning Monday will cover Volvo XC60, C30 2.0, S40 and S80L models in China due to defects in their airbag, engine software, and cooling systems, China's quality watchdog said in a statement.

Xinhua reported that some Volvo XC60 models will be recalled for an airbag assembly issue that could result in the airbag failing to deploy or deploying improperly.

Volvo in a catch-22 spot

volvo-busThe problem of labour unrest is not new to the Indian automobile industry by any means and the latest casualty is the Indian unit of Sweden's Volvo Bus Corp. It is believed that the company has lost money to the tune of Rs 70 million ($1.5 million) in earnings following a work slowdown orchestrated by the local union.

It is to be mentioned here that a company spokesperson recently said that half of the 550-odd staff at Volvo Buses India Pvt Ltd's factory near Bangalore were working with a go-slow approach since April and had gone on a strike close to a week ago.

Volvo Buses Bags Order From Morocco

Online Retailer Amazon Slashes Price Of Kindle E-Book ReaderVolvo Buses has bagged an order for 400 city buses for Casablanca in Morocco.

Morocco had been a key market for Volvo's different companies for many years and the Volvo brand is very strong in the country.

According to a release, both Volvo Buses and Volvo Trucks are presently leading the markets in Morocco.

Eicher Motors to invest Rs. 2.9 billion for expansion

EicherEicher Motors along with Sweden's Volvo announced on Friday that they are going to invest Rs. 2.9 billion for raising their production capacities.

The money will be infused into the Pithampur plant in Madhya Pradesh. The unit currently has a huge line of engineers which is going to be used for producing 85,000 engines per year after this investment. It now produces 40,000 engines every year.

Eicher makes VE commercial vehicles. The plans are also that the unit would be used as the global manufacturing hub for Volvo.

Ford agrees to sell Volvo Cars to Geely

Ford agrees to sell Volvo Cars to GeelyIt has agreed to sell Volvo Cars to Chinese automaker Geely for $1.8 billion, Ford Motor Co. said on Sunday.

Geely Chairman Li Shufu, Volvo Cars President and Chief Executive Officer Stephen Odell and Ford Chief Financial Officer Lewis Booth made the announcement, the Detroit Free Press reported.

The newspaper also reported that the news came at an event at Volvo's headquarters in Gothenburg, Sweden.

Chinese firm buys Volvo's car plant for $1.8 bn

Chinese firm buys Volvo's car plant for $1.8 bnGoteborg (Sweden), March 29 - China's Geely Holding Group has signed a deal worth $1.8 billion with Ford Motor Co. to acquire the US auto giant's Volvo car manufacturing unit in Sweden.

Under the definitive stock purchase deal, Geely will own 100 percent of Volvo Cars and its related assets.

The agreement was inked Sundya by Li Shufu, founder and chairman of Geely, and Lewis Booth, chief financial officer of Ford, at Volvo headquarters in Goteborg, Xinhua reported.

Volvo Luxury buses back in vogue…

Volvo Luxury buses back in vogue…The low-floor, air-conditioned luxury buses from Volvo are again back in vogue after a gap of almost three years in the Indian market. However, the first boost is sales was provided by the state governments but this time, it is the private transport companies which are taking the lead.

Volvo Buses, a 70:30 joint venture between Sweden’s Volvo Bus Corp. and Jaico Automobile Engineering Co. Pvt. Ltd which sold a good 70% to state and city transport corporations in 2009  believes that the figure will move to 55-60% coming from private transport companies in 2010.

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