Volkswagen Details EV Plans for Spain
March 23 2022 - 6:08AM
Dow Jones News
By Kim Richters
Volkswagen AG on Wednesday revealed more details about its
electrification plans for Spain, which include a possible
battery-cell factory in Valencia and investments of more than 7
billion euros ($7.72 billion), together with partners.
The German car maker, whose portfolio includes Spanish auto
brand Seat, said the factory would create more than 3,000 jobs and
have a production capacity of 40 gigawatt hours annually.
The plant in Valencia would be Volkswagen's second large-scale
battery factory after the one in Salzgitter and the first one
planned outside of Germany, it said. Volkswagen wants to build six
so-called gigafactories in Europe with partners.
Volkswagen said it will submit its plans to the Spanish
government and that all plans are subject to approvals.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
March 23, 2022 05:53 ET (09:53 GMT)
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