Volvo has announced a new multi-billion dollar investment in Sweden for next-generation vehicle architecture and engines.
The investment officially goes in SPA (Scalable Product Architecture) and VEA (Volvo Engine Architecture). The main part of the two projects will be carried out in Sweden, constituting one of Sweden’s largest ever industrial investments.
SPA (Scalable Product Architecture) is a new flexible, scalable product architecture that covers most of Volvo’s future car models. Volvo is also developing an all-new four-cylinder fuel-efficient engine family known as VEA (Volvo Engine Architecture).
“Almost half of the approximately 11 billion USD investments covering the years 2011 to 2015 will be spent in Sweden in the form of infrastructure for the new vehicle architecture and engine family. This is a proof of Volvo Car Group’s determination to strengthen the company’s position as a Swedish car maker with a unique attractiveness on the global market,” says Håkan Samuelsson, President and CEO of Volvo Car Group.
The first car model based on the new Scalable Product Architecture is the next-generation Volvo XC90, which will be launched at the end of 2014. That means we should see the prototypes in the near future. Stay tuned!