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  Volvo Car Group will invest 1.2 billion euros ($1.25 billion) to build a new manufacturing plant in Slovakia as part of its expansion plans, the Sweden-based automaker said on Friday. The new plant, Volvo Cars' third in Europe, will build electric vehicles (EV) only, in line with the company's ambition to produce EVs exclusively by the end of this decade. 
  The facility in Kosice in eastern Slovakia is designed to produce up to 250,000 cars per year and is expected to provide thousands of jobs in the region, The site also allows for future expansion, the company said in a statement.
  "Volvo Cars has an ambition to move towards annual sales of 1.2 million cars by mid-decade, which it aims to meet with a global manufacturing footprint spanning Europe, the United States and Asia," it said. 
  Volvo Cars' output last year rose by 5.6% to almost 700,000 automobiles, of which 27% were either fully electric or plug-in hybrids. The company's other European plants are in Sweden and Belgium.
(DE.VOL1) (SE.VOLCAR)
Volvo Trucks (SE.VOLCAR) said Monday that it had begun to test vehicles that use âfuel cells powered by hydrogen,â with the Swedish firm claiming their range could extend to as much as 1,000 kilometers, or a little over 621 miles.
In a statement, Gothenburg-headquartered Volvo Trucks said refueling of the vehicles would take under 15 minutes. Customer pilots are set to begin in the next few years, with commercialization âplanned for the latter part of this decade.â
Fuel cells for the vehicles will be provided by cellcentric, a joint venture with Daimler Truck (DE.DTG) that was established in March 2021.
volvo has started testing trucks with fuel cells powered by hydrogen 2022
Volvo Cars will establish a tech hub in the Swedish capital of Stockholm it said on Friday, as it seeks to reach its goal to sell at least half of its cars online. The Gothenburg-based automaker said over 700 employees skilled in areas such as software engineering, data science and analytics, would be located at the new hub. "The expansion will support Volvo Cars' strong growth, as well as its mid-decade ambitions to sell at least half of all its cars online and to develop at least half of all software in-house," it said in a statement.
volvo cars set tech hub 30677 0848
Gothenburg, oraÈul în care se aflÄ uzina principalÄ a mÄrcii suedeze Volvo, va gÄzdui o uzinÄ de baterii pe care constructorul de automobile o va dezvolta împreunÄ cu Northvolt, cel mai cunoscut startup european în domeniul bateriilor.
Constructorul auto Volvo, deÈinut de chinezii de la Geely, Èi startup-ul Northvolt, care a reuÈit sÄ atragÄ investitori importanÈi din industria auto, vor construi o uzinÄ de baterii în Gothenborg, Suedia, în care vor lucra aproximativ 3000 de persoane, dupÄ cum anunÈÄ cele douÄ companii.