Volvo will build a new electric car factory in Slovakia to support its dramatic plans to ditch combustion by 2030 and go climate-neutral by 2040.
It will be the company's third European production site – alongside its original plant in Torslanda, Sweden, and the busier factory in Ghent, Belgium.
Volvo says it chose Slovakia for the new location to create "a European triangle covering its largest sales region".
The firm will invest around €1.2 billion (£1.04bn) in the new plant – its first in Europe since 1965 – which will be located in the east of Slovakia, near the city of Kosice, and have an annual production capacity of 250,000 units.
