Volkswagen puts off east European gigafactory amid sluggish EV demand
© Reuters. FILE PHOTO: A Volkswagen logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' Delgado/File Photo) will not make a decision on a fourth battery factory site for now, with demand for electric vehicles in Europe lagging expectations, Chairman Oliver Blume said on Wednesday.
Volkswagen has already selected sites for battery cell production in Salzgitter , Valencia , and St. Thomas , which it said had combined production potential of up to 200 gigawatt-hours per year. Blume had met Czech officials this week as the country has pushed for the investment as it seeks to secure the future of its all-important car sector while the global vehicle industry shifts away from fossil fuels.
Prime Minister Petr Fiala said the country would begin concentrating on other projects."We cannot continue to hold the land for this project," Fiala told a news conference.
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