9 Nov 22

VW and SEAT to invest €10 billion in EVs in Spain

SEAT will lead the development of the Volkswagen Group’s Small BEV electric car platform, following the announcement of a €10 billion investment by the car maker.

The investment will see the Volkswagen Group electrify its Martorell and Pamplona factories and build Spain’s first Gigafactory battery plant in Sagunto (Valencia), via PowerCo, which oversees the group’s global battery activities.

The programme, in which 60 other Volkswagen Group-connected companies will participate, has received €367.37 million in Spanish Government support from the Strategic Project for Economic Recovery and Transformation program for the Electric and Connected Vehicle (known as PERTE VEC).

Wayne Griffiths, President of SEAT (pictured above), said: “This industrial plan will boost the transformation of the Spanish automotive industry and will help create thousands of new jobs and maintain the country's competitiveness. This is a first step and now we will continue to look for solutions to develop our ambitious electrification plan.”

Image: SEAT

Authored by: Jonathan Manning