The Volvo Group has invested $400 million in upgrades over the next six years to its New River Valley plant in Virginia where all of its commercial vehicles sold in North America are produced.
It will include installations of state-of-the-art equipment geared at improving factory efficiencies to ultimately produce higher product quality for its customers.
The development, spearheaded by Peter Voorhoeve, President Volvo Trucks North America, will create an additional 777 new jobs.
Voorhoeve, the former boss of Volvo Group Australia, oversaw the $30 million development of its brand new facilities and head office in Brisbane last year before accepting his current position in the United States.
“The outstanding product line currently produced at NRV has strongly positioned Volvo Trucks for the future,” he said.
“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.”
The expansion, it has been reported, will be eligible for a Virginia Major Employment and Investment grant of up to $16.5 million and other incentives.
Pulaski County has indicated it will support the project by granting Volvo 222 acres of adjacent property to expand the site, with an additional $500,000 granted for improvements.