Volkswagen Group: 10 billion for electric cars and batteries in Spain

We know the Volkswagen Group has an ambitious electrification plan which also includes the production of electric cars and batteries in Spain. SEAT’s “Future: Fast Forward” plan presented in March included an investment of 7 billion euros to achieve these goals on Spanish territory. Now comes an important news. The Volkswagen Group has made it known that the investment it will rise from 7 to 10 billion euros thanks to a number of partners that he managed to involve in this project.

The announcement was made by Herbet DiessCEO of the Volkswagen Group, during a visit to the site near Valencia where the new plants will be built, in which Pedro Sánchez, Spanish Prime Minister and Wayne Griffiths, President of SEAT, were present, among others.

Going into the details of the project, 3 billion euros they will be invested to accomplish a new gigafactory in Sagunto, near Valencia. Once up and running, he will have one production capacity of 40 GWh. The cells produced will be used for the electric cars that will be built in Martorell and Pamplona. This new battery factory it will employ more than 3,000 people by 2030 and will occupy an area of ​​200 hectares. Construction of the gigafactory will begin in the first quarter of 2023 and production will start in 2026.

The Volkswagen Group then announced a major agreement with the Iberdrola Group for the construction of a photovoltaic system which will be used to power the new Sagunto factory. The plant will cover an area of ​​250 hectares and will be located less than 10 km from the battery factory. In the first phase it will supply 20% of the total energy of the new gigafactory.

The Volkswagen Group’s goal is to transform Spain into an important hub for electric mobility. This project is also supported by the country’s authorities who will support it with 3 billion euros in subsidies thanks to the resources of the European Union Recovery Fund.

In Spain, we recall, the Volkswagen Group plans to produce the most accessible electric models that will have starting costs around 20-25 thousand euros. Let’s talk, for example, of the series version of the ID.Life concept that will arrive in 2025.

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