HELSINKI (Reuters) -Swedish truckmaker Volvo said on Tuesday it will invest around 2.5 billion Swedish crowns ($260.19 million) to expand its crawler excavator production in Asia, Europe and the
Volvo Expands Crawler Excavator Production Across Key Regions
HELSINKI (Reuters) -Truckmaker Volvo's Construction Equipment unit will expand its crawler excavator production in Asia, Europe and the United States to reduce dependence on long-distance exports, the Swedish company said on Monday.
Volvo CE will invest some 2.5 billion Swedish crowns ($260 million) in South Korea, Sweden and North America to facilitate the expansion, including the establishment of a U.S. excavator assembly line.
"This approach mitigates supply chain risks through localized production, reducing reliance on long-distance logistics, and managing economic and regulatory challenges," the company said in a statement.
($1 = 9.6085 Swedish crowns)
(Reporting by Essi Lehto, editing by Terje Solsvik)
