Volkswagen and SEAT SA will raise 10 billion euros for electricity distribution in Spain

Volkswagen and SEAT SA will raise 10 billion euros for electricity distribution in Spain

Volkswagen and SEAT SA will raise 10 billion euros with their partners in the Future Project: Forward, if the PERTE VEC program request is approved. This was announced today by Herbert Diess, CEO of Volkswagen Group, during his visit to the Sagunt II Park website, along with Pedro Sánchez, Spanish Prime Minister Ximo Puig, President of the Valencia Generalitat, Wayne Griffiths, SEAT Chairman SA. , by Thomas Schmall, Member of the Board of Directors of Volkswagen AG, Chief Technology Officer and Chairman of the Board of Directors of SEAT SA

The meeting was held at Parc Sagunt II (Valencia), where Volkswagen Group will launch the first Gigafactory in the country. The construction of this battery factory is one of the main projects highlighted in the Future: Fast Forward. 62 national and international companies, as well as the reference companies that make up the project, have submitted applications for the Strategic Recovery and Transformation Project (PERTE in Spanish) for electric and connected vehicles (VEC in Spanish).

Gigafactory will have an annual production capacity of 40 GWh. It will distribute all the cells that will be used in Martorell and Pamplona. It will employ more than 3,000 people by 2030 and cover an area of ​​200 hectares. Construction of the Giga Factory will begin in the first quarter of 2023, and production will begin in 2026.

Agreement with Iberdrola for the construction of a photovoltaic plant

Within the framework of the event organized today, Volkswagen Group and Iberdrola Group have signed a strategic agreement that will allow the construction of a photovoltaic power plant in Sagunto. The latter will supply Gigafactory with green energy.

The solar power plant will cover 250 hectares and will be located less than 10 km from the battery factory. During the first phase, it will provide 20% of Gigafactory total energy.

SEAT SA is the only company that creates, develops, manufactures and sells cars in Spain. Part of Volkswagen Group, an international organization based in Martorell (Barcelona), sells cars under the SEAT and CUPRA brands, while SEAT MÓ is responsible for urban mobility products and services.

SEAT SA exports more than 80% of its vehicles, and is located in 75 countries. The company employs more than 15,000 professionals and has three production centers – Barcelona, ​​El Prat de Llobregat and Martorell, with SEAT Ibiza, SEAT Arona , the Leon family (SEAT and CUPRA) and CUPRA Formentor are manufactured. In addition, the company produces Ateca in the Czech Republic, SEAT Tarraco in Germany, SEAT Alhambra in Portugal. In addition to these factories, SEAT: CODE, a software development center based in Barcelona.

SEAT SA will invest 5 billion euros by 2025 to develop new designs for the two brands, SEAT and CUPRA, and distribute its electronic formats. The company aims to play a key role in the electrification of urban vehicles, with a particular focus on the transformation of the Spanish automotive industry.

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