Volvo Cars to invest $1.25 bil to establish third European EV plant in Slovakia

Automaker has decided to invest around Eur1.2 billion ($1.25 billion) to establish a third electric vehicle manufacturing plant in Europe near Kosice, Slovakia, it said July 1. The plant, which will be Volvo’s first new European manufacturing site for almost 60 years, is planned to be climate neutral, be able to produce 250,000 vehicles/year and only manufacture EVs. Construction of…