Volvo Advances $700 Million Mexico Truck Factory Plan Amid US Tariff Concerns - PRESS AI WORLD
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Volvo Advances $700 Million Mexico Truck Factory Plan Amid US Tariff Concerns

share-iconThursday, January 09 comment-icon1 week ago 7 views
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reutersREUTERS
Volvo Advances $700 Million Mexico Truck Factory Plan Amid US Tariff Concerns

Credited from: REUTERS

  • Volvo Group is proceeding with its planned $700 million heavy-truck factory in Monterrey, Mexico, according to CEO Martin Lundstedt.
  • The factory aims to boost North American growth, which constitutes about 30% of the company's revenue, and is set to open in 2026.
  • President-elect Donald Trump has threatened a 25% tariff on imports from Mexico, impacting companies like Volvo.
  • The project is currently at an early stage, with potential options for sales beyond the US market.
  • Lundstedt also mentioned a delay in a planned battery plant in Sweden, indicating adjustments to market factors for green investments.

Read more about the developments here.

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Author:

Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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