- Volkswagen and SEAT will invest 10 billion euros in Spain's electrification.
- The Gigafactory in Valencia will have a 40 GWh capacity and employ over 3,000 people by 2030.
- Construction starts in Q1 2023, with production beginning in 2026.
- A photovoltaic plant will supply 20% of the Gigafactory's energy.
Investment and Project Overview
The Volkswagen Group and SEAT S.A. will invest 10 billion euros to electrify Spain, contingent on a positive outcome of the PERTE VEC. This initiative, part of the Future: Fast Forward project, was announced by Herbert Diess, CEO of the Volkswagen Group, during a visit to the Parc Sagunt II site.
Gigafactory in Valencia
The investment includes the construction of Spain's first battery Gigafactory in Sagunto, Valencia. The Gigafactory will have an annual production capacity of 40 GWh, supplying cells to the Martorell and Pamplona plants. It will employ over 3,000 people by 2030 and occupy 200 hectares. Construction is set to begin in the first quarter of 2023, with production starting in 2026.
Strategic Vision
The Volkswagen Group, SEAT S.A., and the Spanish Government aim to make Spain a European hub for electric mobility. The PERTE program is seen as a model for transforming traditional industrial structures. The Gigafactory will focus on sustainability, using 100% renewable energy and incorporating a closed value chain loop.
Photovoltaic Plant Agreement
As part of the event, Volkswagen and Iberdrola Group signed an agreement to build a photovoltaic plant in Sagunto. This solar plant will cover 250 hectares and be located less than 10 kilometers from the Gigafactory. In its first phase, it will provide 20% of the Gigafactory’s total energy needs.
