The automotive giant has announced that a new factory will be built in Ontario, Canada. The new gigafactory plant would be Volkswagen’s first North American plant.
The new battery plant will be a joint venture between VW and Power Co. Production from new gigafactory is all set to kick off from 2027. The move is seen as Volkswagen’s focus to expand in the US market.
“We now have the unique opportunity to grow profitably in North America and play a key role in driving the transition to electric mobility there,” Arno Antlitz, Volkswagen chief financial officer said in a statement.
“We will be able to address an even broader range of customers. Volkswagen has the right strategy, products and scale to take a strong position in the North American market.”
With respect to investment we are not sure about the exact number but Canada does seem to attract automakers. Earlier Ford said that it will use its assembly plant to build battery electric vehicles. Stellantis and General Motors had previously announced opening new manufacturing plants in the country. The race to EV is not only limited to automobiles but also countries. It remains to be seen which countries attract most EV manufacturing investments.
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