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Tags: EU | Germany | Volkswagen

Volkswagen to Invest 1bn Euros in Battery Production Plant

Volkswagen to Invest 1bn Euros in Battery Production Plant

Tuesday, 14 May 2019 07:39 AM EDT

BERLIN (AP) — Automaker Volkswagen AG says it is investing 1 billion euros ($1.12 billion) to set up a battery production plant in Germany.

Chief executive Herbert Diess said Tuesday that the factory is part of the company's effort to electrify its vehicles.

He said the plant will be built in the northern city of Salzgitter, which has ready access to vast wind power plants in the region.

Volkswagen is trying to move on from the diesel emissions scandal, which has so far cost the company 30 billion euros.

The announcement comes after rival Daimler announced Monday that it aims to make all of its passenger cars carbon-neutral by 2039.

Emissions in Germany's transport sector have stagnated since 1990, putting a drag on the country's efforts to reduce greenhouse gas emissions.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


GlobalTalk
Automaker Volkswagen AG says it is investing 1 billion euros ($1.12 billion) to set up a battery production plant in Germany.Chief executive Herbert Diess said Tuesday that the factory is part of the company's effort to electrify its vehicles.He said the plant will be built...
EU,Germany,Volkswagen
130
2019-39-14
Tuesday, 14 May 2019 07:39 AM
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