<p>Swedish carmaker Volvo Cars said Tuesday that it will invest nearly a billion euros in its historic Gothenburg plant in Sweden to switch its production to electric cars.</p>.<p>The Swedish subsidiary of China's Geely, which announced last March that it will move to a 100-per cent-electric range by 2030, will make this investment in the Torslanda plant "in coming years, in preparation for the production of that next generation of fully electric cars."</p>.<p>The factory, which opened in 1964, is the oldest and largest of the Gothenburg-based carmaker, with nearly 6,500 employees, producing 1,250 vehicles per day.</p>.<p>This investment comes on the heels of another major project in Volvo's electrification strategy, the announcement of the construction of a joint factory with Swedish battery maker Northvolt, also near Gothenburg.</p>.<p>Part of a research and development centre, the battery factory will eventually employ 3,000 people and is part of an investment of around 3 billion euros.</p>.<p>From 2019, Volvo Cars has limited itself to only selling hybrid or all-electric models, and is one of the most advanced manufacturers of electric vehicles.</p>.<p>But car manufacturers worldwide are rapidly moving towards electric vehicles and are increasing the number of factory conversions to move away from the combustion engine.</p>.<p>French company Renault is investing in its Douai site in northern France, as is Volkswagen in Zwickau in Germany and the Japanese company Nissan in Sunderland in England.</p>.<p><strong>Watch latest videos by DH here:</strong></p>
<p>Swedish carmaker Volvo Cars said Tuesday that it will invest nearly a billion euros in its historic Gothenburg plant in Sweden to switch its production to electric cars.</p>.<p>The Swedish subsidiary of China's Geely, which announced last March that it will move to a 100-per cent-electric range by 2030, will make this investment in the Torslanda plant "in coming years, in preparation for the production of that next generation of fully electric cars."</p>.<p>The factory, which opened in 1964, is the oldest and largest of the Gothenburg-based carmaker, with nearly 6,500 employees, producing 1,250 vehicles per day.</p>.<p>This investment comes on the heels of another major project in Volvo's electrification strategy, the announcement of the construction of a joint factory with Swedish battery maker Northvolt, also near Gothenburg.</p>.<p>Part of a research and development centre, the battery factory will eventually employ 3,000 people and is part of an investment of around 3 billion euros.</p>.<p>From 2019, Volvo Cars has limited itself to only selling hybrid or all-electric models, and is one of the most advanced manufacturers of electric vehicles.</p>.<p>But car manufacturers worldwide are rapidly moving towards electric vehicles and are increasing the number of factory conversions to move away from the combustion engine.</p>.<p>French company Renault is investing in its Douai site in northern France, as is Volkswagen in Zwickau in Germany and the Japanese company Nissan in Sunderland in England.</p>.<p><strong>Watch latest videos by DH here:</strong></p>