Volkswagen plans to invest more than $750 million to produce electric cars in Mexico
CTOnews.com, Nov. 15 (Xinhua) Volkswagen is pushing ahead with plans to produce electric cars in Mexico.
Holger Nestler, president and CEO of Volkswagen Mexico, said in an interview with Forbes Mexico that Volkswagen will offer two investment options to boost the production of electric vehicles. The goal, he says, is not only to produce electric cars, but also to make them more sustainable.
Volkswagen will invest US $750 million in the first phase (CTOnews.com Note: currently about 5.452 billion yuan) to renovate its plant in Puebla. The Volkswagen Puebla plant is one of the largest car factories in Mexico and one of the largest in the world. The factory currently produces models such as Jetta, Beatles, Golf and Tuguan long Edition.
Volkswagen plans to produce electric cars in Mexico, Nestler explained in an interview. He added: "but first we have to start with the transformation of the industry."
The head of Volkswagen in Mexico said the carmaker was upgrading its plant to include "state-of-the-art technology". According to Nestler, "massive investment" will be made in the next one to three years to develop new electric models.
The second investment plan, which will be announced in early 2024, involves electric vehicles to be produced in Mexico. Nestler said the plan would include a lot of money, but gave no details.
The president of Volkswagen Mexico said the new models produced by the plant will be launched in the next 12 to 15 months. Nestler also mentioned that the electric car will be produced in Mexico, the United States and Canada.
