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Swedish luxury vehicle maker Volvo Cars plans to build a new European plant in eastern Slovakia, the country’s economy minister said Friday. Volvo’s third European plant will be located in Kosice, Slovakia’s second-largest city, Economy Minister Richard Sulik said. Volvo will receive about 20% of the 1.2 billion euros ($1.25 billion) needed for the project…

The number of bears might increase.

Volvo is to build a new electric car plant in Slovakia. The new production facility near Kosice will be designed to manufacture up to 250,000 all-electric vehicles per year. Construction is scheduled to begin in 2023, with series production starting in 2026. The Geely-owned Sweedish manufacturer

The new 250,000 cars per annum, state-of-the-art plant will build only electric cars, underpinning Volvo’s ambition to become fully electric by 2030 and climate neutral by 2040.

BRATISLAVA, Slovakia — Swedish luxury vehicle maker Volvo Cars plans to build a new European plant in eastern Slovakia, the country’s economy minister said