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Volvo Cars Doubles U.S. Plant Investment to $1 Billion

  • Expansion planned for factory that’s still under construction
  • Investment is said to add 1,900 more jobs to original 2,000
Attendees view the Volvo AG XC 60 vehicle on display during the 2017 New York International Auto Show (NYIAS) in New York, U.S., on Wednesday, April 12, 2017.
Photographer: Mark Kauzlarich/Bloomberg
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Volvo Cars is so eager for growth, it’s planning to expand its first U.S. factory -- and it hasn’t even finished building it yet.

The Chinese-owned Swedish automaker is set to double the investment in its assembly plant near Charleston, South Carolina, to a total of $1 billion, said a person familiar with the plans. The added spending will support an additional 1,900 jobs in addition to the 2,000 originally planned, said the person, who asked not to be identified because the plans are private.