(CercleFinance.com) – The Volkswagen group and SEAT today announced an investment of 10 billion euros in favor of e-mobility in Spain, ‘the largest industrial investment ever made in Spain’, according to Herbert Diess, director CEO of the Volkswagen Group.
This investment of 10 billion euros will make it possible to electrify the second Spanish and European car manufacturer, via the creation of a Gigafactory of batteries in Sagunto. This will allow the production of electric vehicles in the factories of Martorell and Pamplona and the creation of a complete ecosystem of suppliers’, assures the manager.
The Gigafactory will have an annual production capacity of 40 GWh, employ more than 3,000 people by 2030 and occupy an area of 200 hectares. Construction of the site will begin in the first quarter of 2023 with production expected in 2026.
The construction of this battery factory is part of the ‘Future: Fast Forward’ program, which brings together 62 national and international reference companies. These companies also come together around the so-called ‘PERTE’ project, a strategic project for economic recovery and transformation around the electric and connected vehicle in Spain.
Finally, the Volkswagen group and the Iberdrola group have signed a strategic agreement that will allow the construction of a photovoltaic power plant in Sagunto in order to supply the Gigafactory with green energy.
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