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.
