Yesterday, Volvo announced that they will be adding 1,300 jobs and boosting production at a plant in Sweden in anticipation of soaring demands for their new XC90 SUV. The added jobs will increase the factory’s overall workforce by an astonishing 40 percent!
Volvo says, “[The XC90] is expected to further grow the company’s sales volumes during 2015, creating a need for increased output from the Torslanda plant in Sweden where the new car is to be produced.”
This move is right in line with Volvo’s amped up efforts and $11 billion investment plan to expand operations. Recently, the 87-year old company has also installed a new body shop at the factory, which helped spur its total annual production capacity to 300,000 units.
These moves, of course, are a welcome surprise to the company. It was just 6 years ago that Ford had severed all ties with the company (due to declining revenue intake), selling its shares of Volvo to Chinese motor manufacturer Geely Automobile. Now, Volvo appears to be back in full swing.
Automotive News reports, “Volvo’s global deliveries rose 9 percent in the first nine months to 339,220. The company expects to sell about 470,000 cars for the whole year, representing a 10 percent increase over 2013 and an all-time sales record for the company.”
“Volvo aims to sell 800,000 cars by 2020 and make inroads into a premium market dominated by Mercedes-Benz, BMW, and Audi.”