Volkswagen planning to invest EUR4.8bn in Canadian cell gigafactory
By Bradley Osborne - 5th May 2023
Artist's impression of planned cell gigafactory in St Thomas, Ontario
Germany / Canada - Volkswagen AG, an automotive corporation and parent of Traton Group based in Wolfsburg, Lower Saxony, Germany, announced further details regarding the proposed battery cell factory in Canada, which will be built by its subsidiary PowerCo SE of Salzgitter, Lower Saxony.
The prospective gigafactory in St Thomas, Ontario, Canada will reportedly be PowerCo’s largest yet. The site chosen for the facility is around 370 acres, in an industrial park located only 30 km south of London (Ontario) and close by to Toronto and Detroit over the border. It will target an annual production capacity of 90 GWh. The building will be constructed and expanded in phases up to 2030, representing a planned investment of up to EUR4.8bn, or CAD7bn. Volkswagen claims that up to 3,000 highly skilled jobs will be created as a result.
