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Volkswagen to invest EUR1B in battery production plant in Lower Saxony.

The company said, "The Supervisory Board and Board of Management of Volkswagen AG took important decisions for the future of the Volkswagen Group. As part of its electrification offensive the Volkswagen Group is to move forward with setting up a battery cell production facility in Europe under a partnership. To that end, the Supervisory Board approved investments of just under one billion euros at today's meeting. It is planned to locate a battery cell production facility in Lower Saxony. It was also decided to begin concrete negotiations on the planned new multibrand plant in Europe with the remaining potential locations."[Reference Link]:[https://uploads.volkswagen-newsroom.com/system/production/uploaded_files/14540/file/40052ae67cd4587f3e233f777402509f21bec275/Background_Volkswagen_Group_s_battery_strategy.pdf?1557764653]

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Publication:The Fly
Date:May 14, 2019
Words:121
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