Following an announcement made in late March, Volvo has disclosed plans to build its first ever factory in South Carolina, United States as part of a $500 million investment.

Following an announcement made in late March, Volvo has disclosed plans to build its first ever factory in South Carolina, United States as part of a $500 million investment.

The assembly plant is going to be built starting this fall in Berkeley County, South Carolina and the first cars will be completed sometime in 2018. Volvo estimates approximately 4,000 people will work at the new factory which will initially be able to produce around 100,000 units each year.

Volvo explains Berkeley County was selected because it offers easy access to international ports and infrastructure and in that area there is a "well-trained labor force" and "attractive investment environment and experience in the high tech manufacturing sector."

This $500 million investment in a brand new factory is part of Volvo's medium-term plan to double global sales, increase market share and boost profits. The new U.S. plant will be Volvo's fifth factory, after two in Europe and another two in China.

Volvo selects South Carolina as location for its first U.S. factory