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Volkswagen battery company creates 20,000 jobs

Volkswagen battery company creates 20,000 jobs

The Volkswagen group wants to employ up to 20,000 people in the newly founded battery company in Europe in the medium term, and is also considering setting up its own cell factories in North America. The company, called PowerCo, should generate sales of more than 20 billion euros annually by 2030, Volkswagen announced Thursday in Salzgitter at the start of construction of the group’s first in-house factory for electric car battery cells in Germany.

The same amount is planned for the total investments. According to the Labor Council, there should be 5,000 new jobs in the city in Lower Saxony, and there are currently nearly 7,000 employed at the existing engine plant. German Chancellor Olaf Schulz and Prime Minister Stefan Weil (both Social Democrats) attended the groundbreaking of the new halls.