Volvo Cars has chosen South Carolina as the location for its new $500 million factory, which will have an initial annual production of around 100,000 cars.

The plant, which will be located in Berkeley County, outside of Charleston, will make Volvo models for sale in the United States and for export. Source: VolvoThe plant, which will be located in Berkeley County, outside of Charleston, will make Volvo models for sale in the United States and for export. Source: VolvoThe plant, which will be located in Berkeley County, outside of Charleston, will make Volvo models for sale in the United States and for export. Construction will begin in early autumn 2015, with the first vehicles expected to roll off the assembly line in 2018.

Once completed, Volvo will manufacture cars on three continents. It already operates two plants in Europe and two in China.

Volvo Cars has been doing business in the U.S. since 1955 and has a medium-term target to sell at least 100,000 cars a year.

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