Volkswagen to invest 10 billion euros to make electric vehicles in Spain

div classBodysc17zpet90 cdBBJodivpSAGUNTO, Spain Reuters – German car maker Volkswagen AG plans to invest 10 billion euros 10.59 billion to make electric vehicles and batteries in Spain, its Chief Executive Herbert Diess said on Thursday.p

p“We will electrify the secondlargest car producer in Europe with a new gigafactory of batteries and the production of electric cars in two plants and the creation of a full ecosystem of suppliers from lithium extraction to the assembly of batteries,” Diess told an event in Sagunto near Valencia.pdivdivdiv classBodysc17zpet90 cdBBJodiv

pThe company will also set up a solar park with Spains power utility Iberdrola to partly power its factory in Sagunto.p

p1 0.9446 eurosp

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pp Reporting by Emma Pinedo, editing by Inti Landaurop

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