March 30, 2015 — Volvo Cars announced that it is planning to build its first assembly plant in the U.S. Volvo CEO Håkan Samuelsson said the decision to open a U.S. plant signals Volvo's long-term commitment to the U.S. market.
"Volvo Cars cannot claim to be a true global car maker without an industrial presence in the U.S.," he said in a statement.

The Swedish automaker has been owned by Chinese Geely Holding since 2010 and has two plants in Europe and two in China, with a short list of possible locations in the U.S. Though the site of the $500 million plant won’t be announced for another couple months, it is known that the first car to roll out of the new factory is scheduled for mid-2018. Although Geely owns Volvo, the plant isn’t expected to build Geely-branded cars for the U.S. "A Volvo plant would produce Volvo products," said a company representative.

There are several reasons for building a factory in the United States, one of which is to sell medium-sized and small cars that consumers want produced in the U.S. Americans want cars made in America, though exactly which models will be built at the new plant is unclear.