Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Volvo Cars Slovakia has begun large-scale recruitment for its new electric vehicle plant near Košice, with the first wave set to employ around 1,000 people. In the long term, the company plans to create more than 3,300 jobs, making it one of the largest industrial employers in eastern Slovakia.
According to plant director Marc Gombeer, Volvo is confident in reaching its hiring targets and is prioritizing Slovak applicants across production, technical, and administrative positions. Average monthly pay for production operators has been set at €1,280, including variable bonuses and a 13th salary.
The Košice factory, located in Valaliky Industrial Park, is currently in the construction and installation phase. Pre-series production is expected to begin in mid-2026, with full production officially starting at the beginning of 2027.
The plant will specialize in the next generation of fully electric vehicles. The first model to be assembled will be a small electric SUV, followed in 2028 by the Polestar 7 SUV. Volvo has already unveiled new foundry and press shop lines as part of the project’s technological rollout.
Company representatives highlight that the investment not only strengthens Volvo’s global electrification strategy but also represents a major boost for the Košice region. The project is expected to bring significant economic benefits through job creation, supplier opportunities, and long-term industrial development in eastern Slovakia
Eurofound (2025), Volvo Cars, Business expansion in Slovakia, factsheet number 201456, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201456.