Volkswagen plans to beat Tesla
The German automaker has chosen Canada as the first country outside of Europe to build a battery plant.
The North American battery plant, located in Ontario, will produce battery cells starting in 2027. The plant is part of VW Group's broader global plan. By 2030, the company plans to invest $20 billion USD to become a global leader in the field of electric vehicles.
PowerCo, a Volkswagen company founded in July 2022, will produce batteries. Construction of other plants has already begun in Germany and Spain. A third plant will be located in Canada. Volkswagen said this approach is proof of its "ambitious growth strategy" in North America.
Minister of Innovation, Science and Industry of Canada Francois-Philippe Champagne said it is "the largest single investment in the auto sector in the history of Canada."
And Canadian Prime Minister Justin Trudeau said on Twitter that this is good news for workers in Canada, the environment, and the economy.
