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18/07/2024
Mining News

Volkswagen Announces Gigafactory Construction in Sagunt, Spai

Volkswagen plans to build a battery factory in Sagunt, Spain, with an initial investment of more than €3 billion, which could rise to up to €4.5 billion in a second phase.

Start of production in 2026

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This investment is part of VW’s “Future: fast forward” project, which plans to invest €10 billion in Spain. The aim is to advance the electrification of the VW plants in Landaben (Navarra) and Martorell (Barcelona). The planned Gigafactory in Sagunt is expected to reach an annual production capacity of 40 GWh, producing batteries for 800,000 electric vehicles per year. Initial production is expected to begin as early as 2026.

The battery factory is expected to create around 3,300 direct jobs and a further 10,000 indirect jobs once construction is completed and battery production begins.

VW is working closely with Iberdrola, one of Spain’s largest energy providers, to power the Gigafactory. Iberdrola plans to build a mega solar plant that will provide 30 percent of the battery factory’s energy needs.

 

Source: Battery News

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