The Volkswagen Group plans to invest around 52 billion euros in the development and production of electric vehicles over the next five years. Volkswagen Group is considering building more batteries at a new U.S. battery plant to challenge Tesla's position in an effort to boost electric vehicle production in the U.S.
It is reported that Volkswagen's Chattanooga plant in Tennessee, USA, will be completed later this year. After completion and production, it will become Volkswagen's North American pure electric vehicle assembly base based on the MEB platform, and will produce the ID.4 model. Not long ago, VW purchasing chief Murat Aksel said in an interview, "We will most likely need to build a battery factory in the U.S., and we are investing in the U.S."
Volkswagen plans to build six battery factories in Europe with a total capacity of 240GWh, and will spend more than 7 billion euros to build an electric vehicle supply chain in Spain, including a battery factory. Volkswagen's battery factory in Spain is its third battery factory in Europe, after the first two factories are located in Sweden and Germany. Aksel has traveled to the United States to meet with battery manufacturers and other suppliers, and during his visit to investigate possible sites for the factory.
