A Volvo XC40 electric vehicle is shown on, Dec. 13, 2021. Sweden's luxury car maker Volvo Cars will built its new European plant in Slovakia. Slovakia's Economy Minister Richard Sulik said Friday that the plant will be located in eastern Slovakia near the second largest city of Kosice.
The investment is worth some 1.2 billion euros ($1.25 billion) . Volvo will receive about 20% of the investment as support from the Slovak government. The plant will make electric cars only. (AP Photo/Ted S. Warren)