Canada. Battery company PowerCo SE and Volkswagen aim to build their largest gigafactory to date in Ontario, Canada.
According to the German multinational, it will have an annual production capacity of up to 90 GWh in the final phase of expansion.
The planned investment is €4.8 billion by 2030 and has the potential to create up to 3,000 highly skilled jobs at the factory.
Thomas Schmall, member of the Volkswagen Group Technology Board, commented that North America plays a key role in the global battery strategy. The region will become PowerCo SE's second pillar alongside Europe, with battery cells manufactured in North America.
"Gigafactory St. Thomas opens the door to a key market for electric mobility and battery cell production. Our goal is to make PowerCo a global player in the battery business and pave the way for clean and sustainable mobility. Gigafactory St. Thomas is an important milestone in our roadmap."
Gigafactory St. Thomas is the company's first overseas gigafactory for cell manufacturing and will equip the BEVs of the Group's brands in the North American region with state-of-the-art unified cells, an entirely new cell technology designed for volume production.
The inauguration is planned for 2024 and production is anticipated to begin in 2027.
The decision to expand PowerCo SE's cell production network to Canada is further evidence of the Volkswagen Group's ambitious growth strategy in North America.
This includes the introduction of the broadest portfolio of all-electric vehicles in the United States and Canada by 2030, the expansion of Electrify America's coast-to-coast charging network in these two countries, as well as the announcement of the iconic Scout brand to deliver its first all-electric vehicles in 2026.
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