Volvo is not leaving Mexico and bets on the U.S. markets
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Volvo announced that it will maintain its presence in Mexico. Additionally, Volvo's spokesperson remarked that, comparing production costs in Mexico to those anywhere in the U.S., it is clear that there is not a large financial difference among both. The assembler had already selected North Carolina as the place to establish its new factory, considering that the U.S. is a larger market. Hakan Samuelsson, Volvo President, commented recently that the Charleston factory has a “global” ambition. “It will produce for the U.S. market, but almost half of the production will go to export”, he expressed. He affirms that Mexico is very attractive, but pointed out that the key difference is that U.S. is the largest market, and Mexico is not.