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VW investing $800M in Tennessee factory to make next-generation electric vehicles
Volkswagen will spend $800 million to expand a U.S. factory that will produce the automaker’s next generation of electric vehicles.
The factory in Chattanooga, Tenn. will be the company’s North American base for manufacturing electric vehicles, VW CEO Dr. Herbert Diess said during a presentation at the Detroit Auto Show on Monday. The expansion is expected to create 1,000 jobs at the plant.
VW’s Chattanooga expansion is just a piece of the automaker’s broader plan to move away from diesel in the wake of the emissions cheating scandal that erupted in 2015. Globally, VW Group plans to commit almost $50 billion through 2023 toward the development and production of electric vehicles and digital services. The Volkswagen brand (so not including its Audi or Porsche brands) alone has forecasted selling 150,000 EVs by 2020 worldwide, increasing that number to 1 million by 2025.
Read more on techcrunch.com