On March 23, Volkswagen Group said it planned to invest more than 7 billion euros ($7.7 billion) in an electric vehicle center in Spain to create an electric vehicle supply chain in Spain.
The Volkswagen Spain EV Centre includes not only a Valencia battery plant, but also revamped Pamplona and Martorell electric vehicle plants.
The Volkswagen Valencia battery plant, which will start production in 2026, will have a capacity of 40 GWh and will employ 3,000 people. Volkswagen plans to build six battery factories in Europe, the second in its plans. Volkswagen has also previously stated that it is open to the listing of its battery business.
Volkswagen currently produces the Volkswagen Polo, T-Cross and Taigo at its plant in Pamplona, Spain, with about 4,600 employees and more than 220,000 vehicles in 2021. Volkswagen’s Martorell plant in Spain produces about 500,000 Seat-branded vehicles a year and employs 11,000 people. Volkswagen plans to revamp the two factories and retrain local workers to get them up and running assembling electric cars as quickly as possible.
“This is a huge challenge,” Thomas Schmall, Volkswagen Group chief technology officer and head of the Seat brand, said in a statement. “We must now increase the productivity of electric vehicles in Spain to be competitive in the global electrification transition”
Volkswagen plans to invest around 52 billion euros over the next five years in the development and production of new electric vehicles, one of the biggest investment moves in the auto industry.
Earlier this week, Volkswagen also announced that it had reached an agreement with two Chinese companies to form a joint venture that will produce and refine nickel and cobalt, key raw materials for batteries.
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Post time: Mar-25-2022