Volvo plans $500 million U.S. assembly plant


Volvo plans to spend around $500 million to build its first assembly plant in the U.S. as part of an ambitious plan to regenerate lagging sales.

The company, now owned by Chinese giant Geely Holdings, said it has identified potential locations for the factory but that the site selected and size of the final investment will be disclosed at a later date.

No more details were provided.