Volvo Cars Secures Financial Support for Ghent Manufacturing Site in Belgium

11:24 AM EDT, 07/15/2026 (MT Newswires) -- Volvo Car AB (VOLCAR-B.ST), d/b/a Volvo Cars, is set to receive a financial package of up to 119 million euros as part of an agreement with Belgium and the regional government of Flanders to bolster the competitiveness of its Ghent manufacturing facility. The sum is part of a memorandum of understanding under which the parties agreed "to work towards support measures," including financing programs, that would allow the Swedish automaker to further invest and develop the facility as a key production site for its cars, according to a Wednesday release. The support also paves the way for the plant to potentially be used for contract assembly of cars made by other brands.