Volvo AB (VOLVB) is investing more than 100 million euros ($129 million) in a Belgian factory to produce its new V40 model starting May 14, La Libre Belgique reported, citing an interview with Geert Bruyneel, the plant’s managing director.
Volvo’s Ghent factory is running close to its full capacity of 280,000 vehicles a year and plans to produce 27,000 V40 cars this year, which may eventually rise to as many as 100,000 per year, La Libre said. The company spent 55 million euros last year and plans to spend 52 million euros this year to switch the plant’s production away from the S40 and V50 models, Bruyneel was quoted as saying.
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