EconomyFinancialLAST MINUTE: Volkswagen will invest 763 million dollars to...

LAST MINUTE: Volkswagen will invest 763 million dollars to produce electric vehicles in Puebla

Puebla. Volkswagen will invest 763.5 million dollars in the modernization of the Puebla plant to start the production of electric vehicles after 2024.

The investment, which is equivalent to anchoring a new plant, will include the modernization of the paint warehouse with a technology that the German company will use for the first time in the world, as well as the development of prints.

This investment is part of a regional strategy to expand the production of electric vehicles in North America and comply with the regional content requirements of the T-MEC, in addition to accessing the tax credits that the US government will give to consumers to boost the sale of electric vehicles. electrical.

The Puebla plant, promoted by the Volkswagen CEO in Mexico, Holger Nestler, won the project against other assembly plants of the group globally.

People familiar with the project told Expansión that the German manufacturer began developing suppliers for a new model earlier this year. In August, Volkswagen presented Governor Miguel Barbosa Huerta with its investment projects.

“This investment represents a vote of confidence from one of the largest car factories globally,” said Barbosa during the investment announcement, who defined Volkswagen as “a development engine” for the entity. “We are going to be very attentive with you to contribute from the spheres of government so that things go forward,” he added.

The start of production of electric vehicles in Puebla will allow the German manufacturer to free up space at the plant in Chattanooga, Tennessee, to start production of other electric models before 2025.

The Volkswagen Group increased deliveries of fully electric vehicles by 27% in the first half, compared to the previous year. Despite supply bottlenecks, temporary production halts in Europe and Covid-19-related lockdowns in China, it delivered 217,100 electric vehicles to customers in the first six months of the year, up from 170,900 in the year. same period of the year 2021.

Electric vehicles represented 5.6% of the brand’s total sales made in the first half of the year, compared to 3.4% in the first half of the previous year. Europe remains the largest market, with 128,800 electric vehicles sold in that region in the first six months; followed by China, with 63,500 deliveries (29%). The United States accounted for 8% of the group’s global electric deliveries, with 17,000 vehicles.

“Our industry is facing a vertiginous transformation process. That is why we have to invest in electric vehicles, without neglecting combustion vehicles, in order to face this transition that will take more or less years, depending on the markets. But it is inevitable,” Pablo said. Say Si, President and CEO of Volkswagen Group America and CEO of the North American region of the Volkswagen brand.

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