Volvo Car USA LLC will invest an extra $118 million in its Ridgeville, S.C., plant to build its Polestar 3 electric vehicle.

Volvo altogether is investing $1.2 billion in the plant, which also produces the Volvo S60 luxury sedan for the United States and export markets.

"Our South Carolina plant has done a remarkable job producing the award-winning S60 and readying the plant for the next generation of electrified Volvo cars," says Javier Varela, senior vice president, industrial operations and quality, Volvo Car Group.