Volvo will start by testing steel made from hydrogen-reduced iron, with the aim of using it in a concept car within the coming years and eventually becoming the first automaker to build vehicles with fossil-free steel.
Janet Barnard, executive vice president and the current chief people officer, will retire at the end of the month.
The automaker will increase global spending on electric and autonomous vehicles to $35 billion through 2025, a 30 percent jump over its most recent forecast, Reuters reported.
The plant makes rust prevention and grease products for the automotive and other industries.
The funds will finance its purchase of self-driving Origin vehicles starting in early 2023.