In the morning news on May 6, Beijing time, it is reported that Volkswagen and partners are preparingInvest 10 billion euros (about 70 billion yuan) to produce electric vehicles and batteries in Spain3 billion euros more than previously committed.
Volkswagen has partnered with Spain’s largest power company, Iberdrola,A battery factory will be built in Sagunto, near Valencia, Iberdrola will build a solar power plant to provide part of the power for the battery plant. Iberdrola CEO Ignacio Sanchez Galan told reporters that the company will invest 500 million euros (about 3.5 billion yuan) in this plan.
In March this year, Volkswagen said it would invest 7 billion euros (about 49 billion yuan) to build a battery plant in Spain, and it has two electric vehicle plants in Spain. Later, thanks to new partners, the investment was increased to 10 billion euros.
VW CEO Herbert Diess said: “Spain is the second largest carmaker base in Europe, where we will be electrifying, we will build a new battery plant there, and we will have two plants producing electric power. Cars.” He said VW’s plan was to create a complete ecosystem of suppliers, from lithium extraction to battery component production.
According to Volkswagen’s plan, the battery factory will start construction in the first quarter of 2023.Scale of 40GWh, mass production to begin in 2026. The battery factory will employ more than 3,000 employees by 2030.
Spain, the second-largest European car manufacturing base after Germany, launched a tender process last month to provide 3 billion euros in loans and grants to spur electric vehicle production. Volkswagen and its Spanish subsidiary SEAT bid.
In order to stimulate economic development and alleviate the impact of the epidemic, the EU has established a project called the “Strategic Plan for Economic Transformation and Recovery” (PERTE). Much of Spain’s electric vehicle stimulus is part of the project, which will select the winner of the tender this year.
Volkswagen plans to invest 3 billion euros in the Sagunto plant, 3 billion euros in four other SEAT plants and 1 billion euros in Pamplona.
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