PowerCo SE plans to build three battery factories around the world

PowerCo SE is a subsidiary of Volkswagen AG, which was established in 2022. Volkswagen plans to turn it into a global battery supplier. PowerCo SE has announced three battery factories, located in Salzgitter, Germany, Valencia, Spain, and Ontario, Canada. These factories will start operations in 2025, 2026, and 2027, respectively, with a total cumulative production capacity of 200GWh/year. Among them, the super factory in Ontario, Canada has a maximum annual production capacity of 90GWh, and plans to invest up to 4.8 billion euros by 2030.