Volvo has become the latest automobile major to place a bet on South Carolina by picking Berkeley County to locate a $500 million assembly plant, having close access to critical shipping ports.
The main aim of the Chinese-owned auto maker is to nearly double the global sales by 2020. Since taking control of Volvo in 2012, Chief Executive Håkan Samuelsson has repeatedly defended the auto maker's decision to continue selling cars in the US regardless of sales decline and red ink in the region.
Earlier this year, Daimler AG's Mercedes-Benz made an announcement of $500 million van factory near Charleston.
According to the SC Automotive Council, BMW AG has been operating a plant in Spartanburg, which buoys a South Carolina automotive industry, employing 46,000 people.