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Volkswagen Group and SEAT have announced plans to invest more than 7 billion euros together with external suppliers along the entire value chain of e-mobility in Spain. Volkswagen also announced Valencia as the dedicated location for a new battery cell factory in Spain.
Gigafactory Valencia would be Volkswagen’s second location after Salzgitter, and the first one outside of Germany.
Volkswagen aims for a production capacity of 40 GWh annually and plans to employ more than 3,000 people in Valencia. It will be ready to start production in 2026, and construction of the plant should begin by the end of 2022.
The announcement is part of VW’s ‘Future Fast Forward’ programme.
Thomas Schmall, member of the Volkswagen AG Board of Management responsible for Technology and chairman of the SEAT S.A. Board of Directors, says: “This project is highly important – for Volkswagen, for Spain, and for the whole of Europe. It’s our ambition to electrify Spain and we are willing to invest more than seven billion euro together with external suppliers for the electrification of our Martorell and Pamplona plants and the localization of the battery value chain in Valencia.”
Wayne Griffith, president of SEAT., adds: “‘Future Fast Forward’ has the potential to transform the Spanish automotive industry and democratize electric mobility across Europe. The more than 7 billion euros Volkswagen Group and SEAT S.A. would mobilize for Future: Fast Forward would represent the largest industrial investment in Spanish history.”
In total, Volkswagen plans to build six Gigafactories in Europe with an annual capacity of 240 GWh together with partners.