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Volkswagen Buys Land for its Battery Giga-Factory in Parc Sagunt II for €63 Million

The land acquired by Volkswagen spans around 1.3 million square metres and the price of the operation amounts to 63.66 million euros.

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The President of the Generalitat, Ximo Puig, has announced the sale of a plot of land in Parc Sagunt II to PowerCo, the battery company owned by the Volkswagen Group, on which the German OEM is going to build a giga-factory for battery cells. The plant will be the benchmark in Southern Europe and will place Spain at the forefront of the electric mobility industry.

The operation was closed on Monday after approval was granted by the Board of Directors of Espais Econòmics i Empresarials (EEE), a public company owned 50% by the Generalitat and 50% by Sepides, and the subsequent signing of the deed of sale between the management company of Parc Sagunt and PowerCo.

Read the full article in Spanish.

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