Volkswagen to spend $7.1 billion to expand its electric vehicle lineup in North America

Volkswagen says it’ll invest $7.1 billion to produce electric vehicles in North America. That it’ll offer 25 new electric vehicles models to customers in the U.S., Mexico, and Canada by 2030.

The company’s goal is for 55% of its vehicles to run on electricity by the beginning of the next decade.

Volkswagen currently has a U.S. assembly plant in Chattanooga, Tennessee, another in Puebla, Mexico, and a components factory in Silao.

The new investment will go to converting those factories to electric vehicle production. Volkswagen also plans to construct a battery factory in the U.S. in an as-yet-unnamed location.

“American ingenuity and manufacturing know-how are at the heart of our strategy for growth, and thousands of men and women are working hard every day throughout North America to bring the Volkswagen brand to life for consumers,” said Scott Keogh, President and CEO, Volkswagen Group of America, Inc.

Excerpt from SUN DAY Campaign‘s March 23, 2022 issue.

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