Volkswagen Group Not Currently Considering New Gigafactory Site, CEO Says

Volkswagen Group has no plans for another battery factory site at the moment, according to CEO Oliver Blume. In a statement provided by Skoda, Blume explained that the decision is based on market conditions, including the slow growth of the electric vehicle (EV) market in Europe. As a result, there is currently no business justification for selecting additional sites. VW Group had been considering a location in eastern Europe for a gigafactory, but no decision has been made. The Czech Republic, which is keen to secure its car sector’s future as the industry shifts away from fossil fuels, has been advocating for the deal. VW Group has already chosen sites in Germany, Spain, and Canada, which have a combined production potential of up to 200 gigawatt hours per year. Despite the lack of plans for a new gigafactory, VW remains committed to e-mobility and is rolling out new electric models, particularly through its subsidiary Skoda, which is the largest exporter in the country.