SEAT has announced it will invest 3 billion Euros ($3.2 billion dollars) to convert its Matorell facility (20 miles outside of Barcelona, Spain) from ICE (Internal Combustion Engine) to electric. The transition will span all operations including R&D, production & logistics, commercial & people and organization. The site is expected to begin production of fully-electric vehicles for multiple Volkswagen Group brands by 2025.
This shift to BEV production reflects VW Group’s continued commitment towards vehicle electrification. Last year VW announced investment of $20 billion to create a new company, Power Co which will build EV batteries. This allows VW to control the supply chain for its EV production with localised resource. This is part of a wider $100 billion of investment VW is expected to have spent on electrification efforts by the end of 2026. VW’s subsidiary Electrify America also announced last year that it had raised $450 million to accelerate rollout of ultra-fast charging stations in the US and Canada.