Volvo Car Group said it will continue to invest in its US car plant in Ridgeville outside Charleston, South Carolina. Before 2030, Volvo Cars plans to add a new hybrid model to the production line of the Ridgeville plant. This new model is designed to meet the specific demands of the US market.
Volvo Cars has already invested $1.3 billion in the plant in the last decade. The Ridgeville plant currently has an installed production capacity of 150,000 cars per year.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.