The auto industry, which is responsible for a significant proportion of CO2 emissions, continues to focus on producing electric cars to create a more sustainable future. In recent days, we shared with you that the battery factory that Ford will open in Turkey has been announced. In addition, Honda announced that it will invest $522 million in the new electric vehicle facility.

As you can see, many auto giants are already starting to reduce the production of vehicles with traditional combustion engines and are switching to electric cars. The current statements are based in Sweden, which is known for producing robust vehicles and aims to produce only electric cars by 2030. Volvos It shows that he will make a big step in this.

A $1.25 billion factory is being established to produce 250,000 vehicles per year

Luxury vehicle manufacturer Volvo Cars from Slovakia plans to establish a new European branch in the east. According to the statements of the economy minister of Slovakia, the company will establish the third largest electric car factory in the city of Kosice in the country. In addition, the total investment for the facility $1.25 billion (about TL 21 billion) will be; It was stated that 20% of this amount will be covered by the state.

The facility, expected to begin production in 2026, has approximately 250,000 electric cars and about 3,300 new jobs expected to be created. In addition, it is indicated that construction of the factory will start next year.

Slovakia, which has a population of 5.5 million, also has large factories of the world’s largest car brands such as Volkswagen, PSA Group, Kia, Jaguar and Land Rover. Volvo also wants to get one step closer to its electric vehicle targets by including these names.