Volkswagen announces €460 million investment to convert Wolfsburg plant
Volkswagen CEO Thomas Schäfer has announced a €460 million investment to transform the Wolfsburg site into “a highly productive electric mobility factory”. This is the Group’s main factory and headquarters, where the initial investment is planned for the beginning of 2025.
Most of the investment amount will go towards production preparations for the new Volkswagen ID.3, which is scheduled for initial production at the Wolfsburg site from 2023, reaching full production capacity by 2024.
It will be followed by another all-electric model in the SUV segment, which will be based on the updated MEB+ platform, enabling faster charging speeds and greater range, thanks to the new cell manufactured at the Group’s own cell factory in Salzgitter. Schäfer had this to say about the new electric vehicle:
“That is the largest vehicle segment in the world, it is the home of our popular Tiguan. The new model would ideally complement our best-selling ID.4 and ID.5. This is how we intend to further expand our market position and offer our customers the high-quality vehicles they expect from us.”
These vehicles will be followed by the mysterious electric vehicle born of the much-talked-about ‘Project Trinity’. The vehicle will be based on the Group’s SSP platform. The brand says: “No decision has yet been made on where the vehicle will be built in Wolfsburg . That iswhy Volkswagen is keeping open the option of building a new plant in Warmenau.
As an ultimate goal, Volkswagen is committed to producing only electric vehicles in Wolfsburg by 2033 at the latest, as well as in its other European plants, as part of its ‘Accelerate’ strategy.
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