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Volkswagen to Build New Battery Factory in Spain Worth EUR 10 Billion
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The new cell factory will also supply Seat’s vehicle factory in Pamplona. The sector of VW batteries PowerCo has now opened a branch office in the center of Valencia, from which it will coordinate its activities in Spain, Seebiz reports.
The project was announced last spring in principle, but Volkswagen wanted to assess the level of political support before making the final decision.
It has been announced that around EUR 10 billion (USD 10.9 billion) will be invested in the project on the whole.
When it comes to the production of batteries, VW is aiming at 40 GWh of electrical energy a year.
Sagunto will be powered by renewable energy sources. The group has already started employing qualified workers.
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