2023-03-13 12:11:51 ET
- For strengthening its position in the battery EVs market, Volkswagen ( OTCPK:VWAGY ) announced that it is ramping up its activities in North America by selecting St. Thomas in Ontario, Canada to establish its first overseas giga-factory for cell manufacturing.
- Through its battery company, PowerCo, the factory will produce sustainable unified cells, start of production is planned for 2027.
- "Our North American strategy is a key priority in our 10-point-plan that we’ve laid out last year. With the decisions for cell production in Canada and a Scout site in South Carolina we’re fast-forwarding the execution of our North American strategy," CEO Volkswagen Group Oliver Blume commented.
- After Salzgitter and Valencia, this will be the third Group-owned plant worldwide and PowerCo's first cell factory in North America.
- The Volkswagen Group brands plan to introduce more than 25 new BEV models through 2030.
For further details see:
Volkswagen sets up first international giga-factory in Canada through battery company, PowerCo