Volvo Cars is exploring options to increase its US production, including expanding its South Carolina factory or opening a second American site, its chief executive said.
The Swedish carmaker wants to take advantage of funds available from US president Joe Biden’s Inflation Reduction Act, which offers $370bn in green subsidies that have led to a flurry of car and battery investments from across the world.
The act has put a potential US expansion “top of mind for us right now,” Volvo Cars CEO Jim Rowan told the FT.
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