Volvo Group executives said Volvo Trucks North America (VTNA) will invest nearly $400 million over the next six years to upgrade the New River Valley VA plant that produces all Volvo trucks sold in North America. They offered updates on the project during a recent press event at the VTNA facility.
The upgrades include expansion of the industrial footprint and installation of a variety of state-of-the-art equipment that will improve plant efficiency and deliver even higher product quality for customers.
“The outstanding product line currently produced at NRV has strongly positioned Volvo Trucks for the future,” said Peter Voorhoeve, president of Volvo Trucks North America. “This investment is another sign of our confidence in that future and will help us prepare for even more exciting products--powered by both diesel and electric drivetrains--in the coming years.”
The expansion will be eligible for a Virginia Major Employment and Investment grant of up to $16.5 million and other incentives. Virginia’s Pulaski County will support the project by granting Volvo 222 acres of adjacent property to expand the campus, and providing $500,000 toward site improvements.
In addition to its financial investment, Volvo announced plans to create 777 new jobs at the facility over the next six years.
Major components of the investment include a new 350,000-square-foot building that will ultimately house truck cab welding operations; an expansion of the existing plant to allow for
further improvements to the facility’s paint operations and overall material/production flow; and a variety of equipment upgrades, including installation of several state-of-the-art dynamometers for vehicle testing.