Volvo Cars is in the process of opening a new factory in Berkeley County— its first in the U.S. — that will produce an estimated 100,000 cars annually, officials said.
The factory will be the site where the new S60 Sedan will be made. The model is currently being developed at Volvo Car Group headquarters in Gothenburg, Sweden. Once in production, the American-made Volvos will be exported around the world through the Port of Charleston.
The new plant should be fully operational by the end of 2018, said Stephanie Mangini, corporate communications manager for Volvo. Over the next 10 years, Volvo plans to hire up to 2,000 people.
Frank Hefner, professor of economics at the College of Charleston, compiled an economic impact analysis of the plant and said more than 8,000 jobs would be created as a result of the initial 2,000 direct jobs.
The annual economic output is estimated at $4.8 billion, Mangini said.