Volvo Factory to Help World-Leading Carmaker Slovakia Shift to EVs

A planned Volvo factory will be a milestone for Slovakia by propelling the nation’s world-leading car industry into the realm of electric vehicles, Economy Minister Richard Sulik said.

Volvo announced last week it will invest 1.2 billion euros ($1.3 billion) in a new site to produce 250,000 electric cars a year from 2026, further boosting output of the nation that pumps out more automobiles per capita than anywhere else in the world.