Volvo To Shift SUV Production To South Carolina Plant As Tariffs Rise, Doubling Workforce To 4,000 By 2030

Benzinga

Volvo will shift XC60 SUV production to its South Carolina plant to counter new U.S. tariffs, doubling its workforce to 4,000 by 2030. The site also builds the EX90 EV, with new hybrids planned to lift U.S. market share.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Volvo Cars will expand production in its $1.3 billion Ridgeville, South Carolina factory,

00:07according to the Wall Street Journal. The company will ship the assembly of its popular XC60 SUV

00:12from Sweden to the U.S. to offset Trump's due 50% tariff on imports. The move is expected to

00:17double the site's 2,000-person workforce and how Volvo reach its long-delayed target of 4,000 jobs

00:23by 2030. The Ridgeville plant currently produces the $81,000 EX90 electric SUV, which has seen

00:29sluggish U.S. sales of 2,500 units this year. A fresh version coming in 2026 will feature faster

00:35charging, parallel parking assistance, and a safety alert for slippery roads. Volvo also plans to launch

00:40a new hybrid aimed at American drivers before 2030, lining with its pledge to make 90% of its U.S.

00:45fleet electrified. Analysts know Volvo's U.S. market share remains around 1%, but the company

00:50owns local production and tariff advantages will boost its competitiveness. For all things money,

00:55visit Benzinga.com.

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