Volkswagen buys the plot for its gigafactory of batteries in Sagunto for 63 million – Spain.
PowerCo , the Volkswagen Group battery company, has bought a 1.3 million square meter plot of land in Parc Sagunt for 63.66 million euros for the construction of its gigafactory of battery cells, which will be the reference plant for the automotive multinational in southern Europe, as reported by the Valencian Generalitat. The company’s plans are to open the factory in 2026.
The operation was closed after the approval by the Board of Directors of Espais Econòmics i Empresarials (EEE), a public company owned 50% by the Generalitat and 50% by Sepides, and the subsequent signing of the deed of sale between the management company of Parc Sagunt and PowerCo.
The plot, the first to be sold in Parc Sagunt II , covers some 1.3 million square meters and the…