Volkswagen, German automobile company and the company’s subsidiary ‘SEAT’ in Spain have announced the plans for building a battery factory of 10 billion euros in the region of Valencia, Spain.
The factory, which is a 2 square kilometre factory is going to be occupying a site in Sagunto, which is around 30 kilometre of the city of Valencia in Spain. The factory is also going to have an annual production capacity of 40 GWh and the factory is also going to be providing the batteries for the factories of the company in the regions of Martorell and Pamplona.
Herbert Diess, chief executive of Volkswagen Group and the prime minister of Spain ‘Pedro Sanchez’ has also visited the site of the factory in the past week. The chief executive of the company said that, this investment of 10 billion euros is going to be electrifying Spain and the second-largest automobile manufacturer across Europe and is also building up a comprehensive supplier of the ecosystem, and this has been biggest industrial investment ever made in the country of Spain.
He also said that, Volkswagen, SEAT and the Spanish government have been sharing a vision for the purpose of making Spain a hub for the electric mobility of Europe and they are ready for initiating this transformation. The construction of the site has been due to start in the first quarter of 2023 along with the battery production is set to start in the year 2026 and the site is also going to employ over 3,000 people by 2030.
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