The Volvo Group said it will invest about $400 million over six years to upgrade its manufacturing plant in New River Valley, VA. The plant produces all Volvo trucks sold in North America.
“The outstanding product line currently produced at NRV has strongly positioned Volvo Trucks for the future,” said Peter Voorhoeve, president of Volvo Trucks North America. “This investment is another sign of our confidence in that future, and will help us prepare for even more exciting products – powered by both diesel and electric drivetrains – in the coming years.”
Among the upgrades will be a new 350,000-square-foot building that will house truck cab welding operations, improvements to paint operations and the installation of several state-of-the-art dynamometers for vehicle testing.
Virginia Gov. Ralph Northam attended an event where the plans were announced. The project will be eligible for a grant of up to $16.5 million and other incentives. Volvo expects to create 777 new jobs at the facility over the next six years.
“This investment will give our employees the tools they need to continue providing our customers the highest quality products,” said Franky Marchand, vice president and general manager of the NRV plant.