Volvo Group Invests $41 Million in North Carolina
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The Volvo Group announced a $41 million investment in North Carolina’s Piedmont Triad region to purchase and expand the building housing its U.S. Uptime Center, which will now also serve as the global headquarters for Volvo Financial Services (VFS).
“The Uptime Center is a strategic site for Volvo Group North America, playing a critical role in keeping our customers and their vehicles on the road, delivering goods, transporting people and servicing communities throughout the year,” Martin Weissburg, chairman of Volvo Group North America and president of Mack Trucks, said in a release. “Our purchase and expansion of this facility reinforces our commitment to the great communities and residents of the Piedmont Triad, and we look forward to welcoming Volvo Financial Services to our campus.”
Volvo Group’s investment includes the acquisition of the Uptime Center building, which opened in 2014 and was previously leased by the company, as well as a 62,000-square-foot expansion of the Uptime Center to house Volvo Financial Services’ global headquarters.
VFS is the captive finance arm of the Volvo Group, providing financial services for customers of Mack Trucks, Volvo Trucks, Volvo Construction Equipment, Nova buses, Prevost coaches and Volvo buses here in North America, as well as other Volvo Group brands around the world. VFS operates in 50 countries around the globe with approximately 1,700 colleagues worldwide. — Transport Topics
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