SEAT has announced it will invest 3 billion Euros ($3.2 billion dollars) to convert its Matorell facility (20 miles outside of Barcelona, Spain) from ICE (Internal Combustion Engine) to electric. The transition will span all operations including R&D, production & logistics, commercial & people and organization. The site is expected to begin production of fully-electric vehicles for multiple Volkswagen Group brands by 2025.
This shift to BEV production reflects VW Group’s continued commitment towards vehicle electrification. Last year VW announced investment of $20 billion to create a new company, Power Co which will build EV batteries. This allows VW to control the supply chain for its EV production with localised resource. This is part of a wider $100 billion of investment VW is expected to have spent on electrification efforts by the end of 2026. VW’s subsidiary Electrify America also announced last year that it had raised $450 million to accelerate rollout of ultra-fast charging stations in the US and Canada.
SAR Insight & Consulting forecasts the transition from ICE vehicles to BEV in its eMobility Market Tracker and the rollout of EV charging stations in its EV Charging Service.
The original article is here.
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