The scarcity mainly affects the production of fully electric and plug-in hybrid models, says Volvo. But the situation is clearly improving. In June, the number of cars produced was the highest of the year. Still, Volvo expects an impact in the third quarter.
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In Europe, Volvo has factories in Gothenburg and Ghent. Last week, the company announced the construction of a third European factory in Slovakia. This is necessary because Volvo wants to sell more cars in the future. The brand aims for at least 1.2 million cars per year after 2025.
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