Volvo to build EVs in US despite Trump's tax change
Part of composite article Israel Launches Largest Strike in Lebanon, Threatening Fragile US-Iran Ceasefire View full article →
Volvo Car will start manufacturing electric vehicles (EVs) in the United States, even after former President Donald Trump reversed a key tax incentive for EV buyers. The Swedish automaker, owned by China's Geely, plans to produce EVs at its plant in South Carolina. The decision shows Volvo’s long-term confidence in American demand for electric cars. The company expects that lower production costs in the US and future policy shifts will offset the loss of the federal tax credit. Volvo aims to begin EV production in the US by 2024.