Mexico's Economy Minister, Marcelo Ebrard, announced that Sweden's AB Volvo will be increasing its investment in the truck factory being constructed in the northern Mexican state of Nuevo Leon to $1 billion. This decision comes after Volvo had previously selected a location near Monterrey in northern Mexico for its new North American heavy-duty truck factory, with an initial investment estimate of $700 million. Ebrard shared the news of the increased investment amount in a post on social media, mentioning that he was informed by Volvo's headquarters in Sweden. The factory is scheduled to commence production in 2026. At the time of reporting, Volvo had not yet responded to queries made outside regular business hours.