VW Approves $2B Facility for EV Production
March 8, 2022—Volkswagen late last week announced it approved a new $2.16 billion facility near its primary manufacturing plant for its new Trinity electric vehicle.
Construction of the new facility is set to begin as early as next year with a target to get cars in production by 2026. According to a news release from the company, the facility will "meet high environmental standards," and the Trinity vehicle it produces aims to be carbon neutral.
"We are setting benchmarks in the automotive industry with Trinity and the new factory and turning Wolfsburg into the global lighthouse for cutting-edge and efficient vehicle production," Volkswagen CEO Ralf Brandstätter said in a statement. "This reaffirms that the economic transformation of Germany as a center of industry can be achieved.”