VW breaks ground on new battery factory, will invest €20b into “PowerCo” spinoff
VW has announced another big battery investment, this time committing €20 billion to battery production through 2030 with a new battery production spinoff named “PowerCo.”
The announcement was made at the groundbreaking ceremony for its new battery factory in Salzgitter, Germany, the first of six plants in Europe as unveiled at VW’s “Power Day” event last March.
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