Volvo is mulling a U.S. factory to offset some of its exposure to fluctuations in the dollar. One thing the automaker definitely will be doing is expanding its presence in the U.S., and a manufacturing facility would certainly make that way easier.

A U.S. Volvo plant would join factories in Sweden, Belgium and two plants in China. Volvo has been making a push on the Chinese market after Ford sold the Swedish company to Geely last year.

This manufacturing push is part of the company's initiative to double sales to 800,000 cars per year worldwide. The company also intends to invest $11 billion over the next five years, with the crosshairs squarely on the Chinese market.

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