First gigafactory in NA The Volkswagen Group announced that the group will build its first gigafactory in North America. It will be located in the city of St. Thomas in […]
The Volkswagen Group announced that the group will build its first gigafactory in North America. It will be located in the city of St. Thomas in the Canadian province of Ontario. There are several reasons behind this decision. Of course, one of them is that the Volkswagen Group hopes to meet a major requirement of Inflation Reduction Act (IRA). If it can do, its EVs will be eligible for the US federal tax credit of 7,500USD.
The St. Thomas factory will be a joint venture between Volkswagen and PowerCo. It is a new independent company created by Volkswagen. They will invest 20 billion USD in battery initiatives. Production at the St. Thomas factory will start in 2027.
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