Indicator - Economy - Volkswagen expands production of electric cars with investments of 10 billion euros

Indicator – Economy – Volkswagen expands production of electric cars with investments of 10 billion euros

Volkswagen announced in March that it would spend 7 billion euros on building a battery plant and manufacturing electric cars at its existing plants in Spain.

This amount has now increased to $10 billion with the participation of new partners

Volkswagen CEO Herbert Diess said.

The CEO said that Spain was the second largest car maker in Europe after Spain By building a new giant battery factory and redesigning existing Volkswagen plants Fitted for electric cars. Then he added it

We create a complete supplier ecosystem, from lithium extraction to battery assembly.

It is important to know that in April, Spain launched an application for about 3 billion euros in loans and grants to boost the production of electric cars. Volkswagen and its Spanish interests, Seat, made a bid. The winners will be selected from the European Union’s Epidemic Control Fund, or the so-called PERTE Fund, this year.

Volkswagen Group plans to invest 3 billion euros in its plant in Sagunto, another 3 billion euros in four SEAT plants, including Martorell near Barcelona, ​​and 1 billion euros in Pamplona.

It was also announced that a partnership agreement had been signed with Spain’s largest electricity supplier, Iberdrola, to create a solar park to partially supply the company’s battery plant in Sagunto, near Valencia.

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