The Volkswagen Group, which has expanded its electricity transformation with a giant investment, the first details of which were shared a short time ago, made history in Spain.
On the Volkswagen front, which came out with important electricity-focused investment moves in March, which we are getting ready to leave behind, a similar step after Germany was announced as Spain headquarters a short time ago. Within the scope of the project, the first details of which were shared within the scope of Seat’s 2021 evaluation meeting, it was announced that an investment of 7 billion Euros would be made in Spain. This investment, announced as part of the Fast Forward project, will go down in history as the largest industrial investment ever made in Spain at once. The facility in Valencia, which is targeted to have an annual production capacity of 40 GWh, is planned to employ more than 3,000 people. Volkswagen Group expects the plant to be completed by the end of the year, with the aim of starting production in 2026. aims.
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The press conference also gave a preview of one of the new CUPRA models, scheduled to be launched in 2024. The all-new SUV, which will be produced in Hungary, will have mild hybrid and plug-in hybrid versions. The new model is aimed to lead the next generation of PHEVs with an electric range of around 100 km. The new SUV is one of four new models to join the CUPRA lineup soon. The brand is preparing to introduce the CUPRA Tavascan and the new SUV model to the market in 2024. These models will be followed by two new models that will be launched in 2025. The brand also aims to double its sales and sales network at the end of the year, and plans to double its turnover to 5 billion Euros.