Volkswagen to Build 2 Billion EV Plant
VW has announced plans to construct a major new production facility for electric vehicles near its main plant in Wolfsburg. Work on the project, which will cost EUR 2 billlion, could begin as early as spring 2023, with the carmaker’s Trinity model to start rolling off production lines by 2026.
Production at the new facility, says VW, will be CO2 neutral.
“With this decision we are strengthening and sustaining the competitiveness of the main plant and giving the workforce a robust long-term perspective,” said Volkswagen CEO Ralf Brandstätter in a company statement. “We are setting benchmarks in the automotive industry with Trinity and the new factory, and turning Wolfsburg into the global lighthouse for cutting-edge and efficient vehicle production. This reaffirms that the economic transformation of Germany as a center of industry can be achieved.”
Record number of EVs were registered in Germany last year, with the state offering subsidies of up to EUR 9000 for the purchase of new vehicles.