Salzgitter, Germany — Volkswagen said on Thursday it would invest more than €20bn in a battery cell business jointly with partners, creating 20,000 jobs and reaching annual sales above €20bn by 2030 as it seeks leadership in the growing market.
“Today is a good day for the automotive industry in Germany,” Chancellor Olaf Scholz said in a statement ahead of his speech at the ceremony. This includes six plants in Europe, of which Salzgitter is the “blueprint” for VW’s future standardised production facilities, and two in North America.
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