Energy Efficiency, Industrial - January 14, 2019
Volkswagen commits $800 million to build EVs in TN
Volkswagen AG announced it will invest $800 million in its Chattanooga, Tennessee facility to develop and build new electric vehicles. EV production at the site will begin in 2022.
Chattanooga will be the first dedicated location in North America for production of a vehicle using Volkswagen’s modular electric toolkit chassis, or MEB. In addition to Chattanooga, Volkswagen is building the first dedicated EV production facility in Zwickau, Germany, starting MEB production by the end of 2019. Volkswagen will also add EV-production at facilities in Anting and Foshan, in China, in 2020, and in the German cities of Emden and Hanover by 2022. Volkswagen of America will offer the first EV based on the MEB platform to customers in 2020.
“The US is one of the most important locations for us and producing electric cars in Chattanooga is a key part of our growth strategy in North America,” said Dr. Herbert Diess, CEO of Volkswagen AG, in a report from Reuters. Together with our ongoing investments and this increase in local production, we are strengthening the foundation for sustainable growth of the Volkswagen brand in the US."
Globally, Volkswagen Group plans to commit almost $50 billion through 2023 toward the development and production of electric vehicles and digital services. According to the report from Reuters, the Volkswagen brand alone has forecasted selling 150,000 EVs by 2020 worldwide, increasing that number to 1 million by 2025.
“The shift toward electric vehicles is a trend that can be seen worldwide, and Volkswagen’s decision to locate its first North American EV manufacturing facility in Chattanooga underscores Tennessee’s manufacturing strength and highly-skilled workforce,” Tennessee Governor Bill Haslam said.
- A Guide to IFRS Accounting for VPPAs
- Insights from the 2020 Renewable Energy Sourcing Forum - Winter Edition
- Iron Mountain Data Centers aces the Better Buildings Challenge
- Challenging Channels: Creativity and Competition
- SED Pulse Survey: COVID-19's Impact on Sustainability Goals and Workplace Restart